Thread, just picked this up off Yahoo:
25 pm Eastern Time
Company Press Release
Midland Inc. Announces Clarifications & Previous DF-144 Test Results
HOUSTON--(BUSINESS WIRE)--May 28, 1998--John H. Spriggs, COO of Midland Inc. (OTC BB:MIDL - news), today
announced their wholly owned subsidiary Arcon Energy Inc. has tested the DF-144 blend value with four refinery streams from
Coastal Corp.'s [NYSE:CGP - news] refinery at Eagle Point, N.J.
Using various concentrations of DF-144 the testing resulted blend values measuring octane indices (r+m/2) of 120 to 168
octane.
Arcon Energy Inc. has also conducted over 200 tests of its patented process for DF-144 using various formulations of feed
stock components always with ethanol. SGS Control Services Inc. and Core Labs are bonded and conducted all testing of the
samples according to ASTM standards. Both highly respected and internationally recognized, these laboratories test and certify
chemicals for major oil and gas and chemical companies world wide.
The tests reported motor octane, research octane PONA and distillation. DF-144 has been tested by Conoco and Glencore
Ltd. both major refiners and gasoline blenders confirmed Arcon's results.
Warrants can be exercised for 1 warrant (MIDLW) plus .50 for one common share (MIDL) either though your broker or the
Transfer Agent: Signature Stock Transfer, 14675 Midway Road, Suite 221, Dallas, TX 75244.
Effective at the close of business on May 29, 1998, the previous announced dividend of the Series ''A'' Preferred will be
implemented as a 3:2 split. Signature Stock Transfer will be notifying the DTC of the terms over the weekend. Midland Inc. has
notified NASDAQ of the 3:2 terms.
As more corporate matters conclude we shall keep our shareholders informed in a timely matter in news releases and on our
website located at arconltd.com which will include all company updates.
Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties including,
without limitation, continued acceptance of the company's products and services, increased levels of competition, new products
and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and
other risks detailed form time to time in the company's federal filings, annual report, offering memorandum or prospectus.
V
PS sorry if i posted old news--the release says the 28th but appears via Yahoo to be sent out today at 9:25PM |
