NEWS OUT!
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Monday June 15, 10:31 am Eastern Time
Company Press Release
Energy Drilling Industries Inc. Wholly Owned Subsidiaries,
Brenham Oil & Gas Inc. and Texas Real Estate Enterprises Inc.
Acquire Properties and Minerals
KEMAH, Texas--(BUSINESS WIRE)--June 15, 1998--Energy Drilling Industries Inc. (OTCBB:EDII - news)
announced today its wholly owned subsidiary, Brenham Oil & Gas Inc. signed an agreement to acquire more oil and
gas royalties in the Eberle Field in Brenham, Texas. The mineral royalties are being purchased with restricted shares of
EDII common stock. The royalties are free and clear of any encumbrances.
Also, its wholly owned subsidiary, Texas Real Estate Enterprises Inc. acquired two properties; (1) approximately 740
acres in Chambers County and (2) approximately 25 acres in Harris County, Texas. Both properties were acquired
for restricted shares of EDII common stock and cash. Both are free and clear of any encumbrances.
The company's previously announced acquisitions are being finalized.
Energy Drilling Industries Inc. has five divisions: industrial, financial, oil and gas, real estate and entertainment. Energy
Drilling Industries Inc. assists its subsidiaries vertically, to build each division in its own field.
Contact:
Investors Relations
Growth International, 718/951-0260 |
