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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Jan 8 4:00 PM EST
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To: suzy-q who wrote (7142)9/5/1997 4:35:00 PM
From: Ferick   of 13091
 
To all concerned:

I hope you don't perceive this as being in the interest of negativism
but, I'm interested in any opinions you might wish to share in regard to this newswire and its affect on GRE.:

BROUSSARD, La, Sept 4 (Reuter) - Environmental Remediation Holding Corp said Thursday it entered a joint venture to build and operate an oil/tire recycling and electric co-generation plant in Louisiana.

ERHC said it and its partner, Air Group Inc, a private Florida company, plan to start revenues flowing immediately.

Air Group said it estimates the Louisiana plant will be able to process more than four million barrels of waste oil a year and to generate income of more than $400 million annually.

ERHC said profits from the venture will be shared equally.

The companies said ERHC should provide at least three million barrels of waste oil during the first year of operation.

Based on standard industry fees, the joint venture will receive $50 a barrel to remove oil-water or bilge water and $2,500 per barrel for hazardous waste oil.

ERHC said the plant can sell about 80 percent of the recycled oil as highly-refined extender oil or fuel oil for more than $50 a barrel.

Air Group will provide the use of technology it recently acquired from Titan Technologies Inc <TITT.OB> and necessary funding for its 51 percent control of the projects its shares with ERHC.

ERHC will contribute its expertise in oil remediation and hazardous waste cleanup and bring its federal environmental and state licensing requirements.

20:14 09-04-97

Ned
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