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Microcap & Penny Stocks : NuTek, Oil Company, currently at 1
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To: Larry Sallee who wrote (30)10/8/1996 2:56:00 PM
From: James McKillop   of 95
 
These couple of weeks have been kind of hectic and I hadn't had the
chance to post about new developments. I just got of the phone
with Britt Brooks and here's what he said. NuTek just received
additional financing commitments for lease purchases from America
Capital Resources, Inc. This will facilitate acquisitions of new
wells, especially in the current climate of increased oil prices.
In fact, NuTek is eyeing another two small lease acquisitions of
wells, that can be facilitated through the newly acquired financing
possibilities. As of today, NuTek has around 200 oil wells.
Of this number, 90 are 100% owned by NuTek, the remainder belongs to
NuTek and their JV partner. Also, Britt mentioned that 5 new
bailer pumps are about to be installed this week.

Well, that's all the news I have.
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