NEWS RELEASE !!
Tuesday June 16, 6:00 am Eastern Time
Company Press Release
Energy Optics Subsidiary to Monitor Oil Lease by Satellite
TAVARES, Fla.--(BUSINESS WIRE)--June 16, 1998---Energy Optics, Inc. (NASDAQ OTC: EOPT - news) announced
today that its subsidiary, American Millennium Corporation, had come to an agreement with Griffin Petroleum of Midland,
Texas, to provide satellite monitoring of conditions on an existing oil lease operated by Griffin Petroleum. American
Millennium currently has a reseller contract with ORBCOMM USA, L.P., a subsidiary of ORBCOMM Global, L.P., a
provider of satellite-based data and messaging communications services. The non-exclusive contract allows American
Millennium to provide data transmission to operators of oil and gas wells, intermodal containers, and refrigerated railcars.
Eric Griffin, vice president of Griffin Petroleum Company, confirmed that American Millennium will install a satellite
transceiver that will send data reports from various sensors to be installed on the well. The data will report the volume of oil
and water being pumped, as well as high and low pressure safety switches. In the future it is planned that the equipment will be
programmed to shut the pump down should the pressures vary from the specifications programmed into the equipment. Also,
according to Griffin, American Millennium will monitor the load cell on the rod string and the down hole pump.
According to Griffin, the oil lease operated by Griffin Petroleum is north of Midland and is adjacent to a lease operated by
Pennzoil which is utilizing water flooding to enhance oil flow from the ground. He stated that there is a possibility of a positive
peripheral effect that could make it necessary to adjust the pump speed to take advantage of the increase in volume.
Steve Watwood, CEO of American Millennium, confirmed that all of the data and adjustment capability that Griffin
Petroleum would require can be accomplished through satellite monitoring. He noted that once the equipment is installed over
the next several weeks, a Web site will be posted that will allow anyone to go on-line and view the conditions and data being
reported to Griffin Petroleum.
The data is provided to American Millennium through the ORBCOMM system. The ORBCOMM satellites download the data
into earth stations operated by ORBCOMM in New York, Arizona, Georgia, and Washington state.
Energy Optics, Inc. and American Millennium Corporation have agreed to merge with Energy Optics, Inc. to be the surviving
corporation. The merger will be ''effective'' upon the acceptance for filing of Articles of Merger by the New Mexico
Corporation Commission and a Certificate of Merger by the Delaware Secretary of State's office. At a Special Meeting of the
shareholders of Energy Optics, Inc. held on May 27, 1998 the stockholders voted to amend Energy Optics, Inc.'s Articles of
Incorporation to, amongst other things, change the name of the company to American Millennium Corporation, Inc. Upon
acceptance for filing of the Amendment to the Articles of Incorporation of Energy Optics, Inc. by the New Mexico
Corporation Commission, notification of the name change will be submitted to the Securities and Exchange Commission and
National Association of Securities Dealers, and a new stock ''ticker'' symbol and CUSIP number applied for.
This press release contains forward-looking statements that involve risk and uncertainties that could cause the Company's
actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking
statements. In particular, Energy Optics' plans may be revised, and its actual results may differ materially from that indicated
by its current plans, in each case as a result of a variety of factors, including: (i) the availability of financing and regulatory
approvals; (ii) the number of potential customers in a target market; (iii) the existence of strategic alliances or relationships;
(iv) technological, regulatory or other developments in the Company's business; (v) changes in the competitive climate in
which the Company operates; and (vi) the emergence of future opportunities.
Contact:
James C. Statham
Energy Optics, Inc.
352-742-5010
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Energy Optics Inc (OTC BB:EOPT - news)
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