Our scam company just put out a press release. Again, the stripper well technology, which is easily verifiable, (though not NTAH's part in it) appears to be alive and well. Here's the news:
Wednesday December 9, 9:04 am Eastern Time
Company Press Release
Nevtah Capital Management Corp.
Announces an Update on the
Nevtah/Pamco Joint Venture
PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Dec. 9, 1998--Nevtah Capital
Management Corp. (NASD OTC:NTAH) formed a partnership with the Petroleum Asset
Management Co. (PAMCO), a private company, to jointly commercialize a patented technology
partly funded by the US Department of Energy that radically cuts the cost of producing oil from
low-volume wells (comprising 75% of the US total).
This technology also applies to stripper gas wells with the same benefits.
Due to current low oil prices the joint venture has focused its main effort on finalizing the
development of its satellite control technology for stripper gas wells. This program is being carried
out as a joint development program with a major US oil and gas company that is actively involved
with stripper gas wells. Pamco has a meeting scheduled with a large satellite communications
company on Dec. 15, 1998 to link our management and monitoring system with their satellites. They
currently have full coverage in the United States as well as another 115 countries. According to their
engineers and Pamco's staff, the Pamco technology is up to date and will easily adapt to their
system. This will enable the stripper gas well companies to control and monitor their gas collection
operations while utilizing Pamco's patented pump system. There are another three major oil and gas
companies waiting for us to develop the complete stripper gas well package for their use.
There are currently in excess of 180,000 producing stripper gas wells in the US with thousands
more being drilled each year. This will provide the Nevtah/Pamco joint venture with significant
revenues starting early next year.
As time and weather permits, the joint venture is also installing its stripper oil well technology on its
leases in Corsicana, Texas. The installed wells in Corsicana and Kentucky are working excellently
without any down hole problems and very little maintenance. The 5 wells in Kentucky utilizing the
Pamco system have been in operation over 20 months with no operating or maintenance problems
and with a 25 - 100% increase in production over the former pump jack system. The joint venture
has also sold 176 barrels of oil last week from its Corsicana leases.
On behalf of the Board of Directors Per: Daniel P. Kesonen, President
Contact:
Nevtah Capital Management Corp., Palm Beach Gardens
Daniel P. Kesonen
561-626-9901
More Quotes and News:
Nevtah Capital Management Corp (OTC BB:NTAH - news)
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