Monday March 30, 7:07 am Eastern Time
Company Press Release
Nerox Energy Corp. Files 1997 10 Ks
IRVINE, Calif.--(BUSINESS WIRE)--March 30, 1998--Nerox Energy Corp. (OTCBB:NROX - news) announced today that it has filed its 1997 10 K.
In making this announcement, Jack Utter, president and chairman of Nerox, stated, ''By bringing our filings current, we are now in a position to take advantage of the huge potential the Jonesville Coal Mine provides. We are currently discussing several joint venture possibilities and arranging for the financing needed to begin mining at Jonesville. The recent purchase of Atlantic Richfield Co's (NYSE:ARC - news; NYSE:ACR - news) U.S. mining operations by Arch Coal (NYSE:ACI - news) for $1.14 billion, shows the enormous interest and profitability in coal production.''
Arch Chief Executive Officer, Steven Leer, was quoted, ''Coal generates about 56% of U.S. electricity, and utilities, looking to cut cost in a deregulated market, will turn to the mineral for generation.''
Nerox Energy Corp. is an emerging growth, fully integrated energy company with interests in oil and natural gas, coal and power plant development. The company's current primary focus is targeted on the development and marketing of the largest accessible high grade bituminous coal reserve in Alaska. The company's Jonesville Coal Mine is strategically located, offering ready access to both Pacific Rim and domestic market.
Financial Statements in this press release other than historical facts are ''forward-looking'' statements with the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995.
The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
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Contact:
Nerox Energy Corporation
Jack Utter, 714/955-9136
or
M&A West, Inc.
Scott Kelly, 650/588-2678 |
