My comments are below the release(sorry new at cut and paste)!
Click here for more information
ARXA International Energy, Inc. Announces Major Acquisition
PR Newswire - May 21, 1998 07:16
ARXA %OIL %TNM V%PRN P%PRN
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HOUSTON, May 21 /PRNewswire/ -- ARXA International Energy, Inc. (OTC Bulletin Board: ARXA) announced today that it has entered into a binding letter of intent to acquire for stock and cash certain producing assets of OPMI Operating Company, Inc. and Todd C. Harwell individually. All of the production and prospects being acquired are in the Texas and Louisiana state waters and the Gulf Coast region. ARXA will develop and operate the properties in conjunction with OPMI and Mr. Harwell.
Craig Ford, President and CEO of ARXA, stated that "the production being acquired will double both the asset base and cash flow of the company". Mr. Ford went on to explain that "by the terms of the agreement with OPMI and Mr. Harwell, ARXA will provide capital for numerous reduced-risk exploitation and development opportunities with the potential for adding significant additional value to the company. The OPMI acquisition and exploitation agreement will serve as a blue print for deals in the immediate future to rapidly grow the producing reserve and cash flow base of the company consistent with our short term corporate growth strategy."
In addition to the acquisition announced today, ARXA also announced the opening of discussions with Reserve Guaranty Corporation and Omega Fuels for new production acquisitions and development opportunities under similar terms and conditions as the OPMI agreement.
The private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by ARXA) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the energy industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such result may differ from those expressed in any forward-looking statements made by or on behalf of ARXA. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.
SOURCE ARXA International Energy, Inc.
/CONTACT: Bruce Pollock, Investor Relations of ARXA International Energy,
Inc., 281-216-8726/
(ARXA)
I still feel the good about it. The stock has established a new floor around a dollar (up about 100% from recent all time low!!) and this was on one news release. We have about 4 more to go. I just got home from work and read your posts. You had me worried until I checked the price. I think we are still holding. With more news to come I'm holding on to my shares. Arxa has a history of moving up fast on good news. The next news release as I understand it will quadruple the size of the company. That sounds like another big price move to me. Nothing has changed, our stock is still holding it's new floor and we still have more POSITIVE NEWS TO COME.
The thread is quiet, wait until about a week before the next news release. Speaking of which if someone calls ARXA ask when the next release will be and post the date here please.
Thanks in advance,
FP |
