Nerox Energy Corp. Discovers 23.5 Billion Cubic Feet of RecoverableNatural Gas at Jonesville Mine;
In Addition to 30 Million Tons ofBituminous Coal
IRVINE, Calif.--(BUSINESS WIRE)--Feb. 9, 1998--Nerox Energy Corp.(OTC BB:NROX) announced today that, in an estimate provided by LappResources of Anchorage, Alaska, the Jonesville Mine has 47 billioncubic feet (BCF) of gas in place and 23.5 BCF of gas potentiallyrecoverable.
Jack Utter, president and chairman of Nerox commented, "With thelarge volume of coalbed gas it may be feasible to construct a smallpower plant to generate and sell electric power to the local powercompany. The eventual production of the gas would result insignificantly lower costs to produce coal and potential additionalrevenues".
Nerox Energy Corp. is an emerging growth, fully integrated energycompany with interests in oil and natural gas, coal and power plantdevelopment. The company's current primary focus is targeted on thedevelopment and marketing of the largest accessible high gradebituminous coal reserves in Alaska.
The company's Jonesville Coal Mine is strategically located,offering ready access to both Pacific Rim and domestic markets. Financial Statements in this press release other than historicalfacts are "forward-looking" statements within the meaning of section27A of the Securities Act of 1933, Section 21E of the SecuritiesExchange Act of 1934, and as that term is defined in the PrivateSecurities Litigation Reform Act of 1995.
The company intends that such statements about the company'sfuture expectations, including future revenues and earning, and allother forward-looking statements be subject to the safe harborscreated thereby. Since these statements (future operational resultsand sales) involve risks and uncertainties and are subject to changeat any time, the company's actual results could differ materially fromexpected results. SOURCE: Nerox Energy Corporation. |
