Dave - Try searching under MIDL, not MIDLP
Midland Inc. Announces Clarifications & Previous DF-144 Test Results
BusinessWire, Friday, May 29, 1998 at 21:45
HOUSTON--(BUSINESS WIRE)--May 28, 1998--John H. Spriggs, COO of
Midland Inc. (OTC BB:MIDL), today announced their wholly owned
subsidiary Arcon Energy Inc. has tested the DF-144 blend value with
four refinery streams from Coastal Corp.'s 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.
CONTACT: Midland Inc., Houston
John H. Spriggs, 281/493-2722
KEYWORD: TEXAS NEW JERSEY
INDUSTRY KEYWORD: ENERGY OIL/GAS
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Copyright 1998, Business Wire
Companies or Securities discussed in this article:
Symbol
Name
BB:MIDL
Midland Inc |
