CNHH-NEWS:
January 06, 1999 08:25
CNHH Announces $1,702,000 Unaudited Gross Revenues for Calendar
Year 1998
KILGORE, Texas--(BUSINESS WIRE)--Jan. 6, 1999--CNH Holdings Company Inc. (OTC BB:CNHH)
announces $1,702,000 unaudited gross revenues for Calendar Year 1998 from its two subsidiaries with
NORM Services & NSG Rentals contributing $1,400,000 and Southport accounting for $302,000.
Since Aug. 1, 1998, NORM Services has operated from their new headquarters in Wallisville, Texas. The
headquarters structure is 15,000 square-foot office and service bay facility, which is conveniently located
near Baytown, Texas on Interstate Highway 10, the main land artery between Houston and New Orleans.
Also, the office is situated only eight miles from NORM Services' Kiva Docks facility on Galveston Bay, a
location that allows barge access by way of the Intercoastal Canal along the entire Gulf Coast.
NORM Services is currently completing the second phase of a drilling mud disposal operation for H. Hunt
Exploration Company in Galveston County, Texas, and has an ongoing disposal subcontract in Austin,
Colorado, and Wharton Counties, Texas with Baroid Drilling Fluids that is projected to continue for a
minimum of six months. Also, at least three offshore drilling rigs are returning to Galveston Bay, and the
Kiva Docks facility is ready to be utilized to accommodate the off-shore drilling activity.
Commencing Jan. 17, NORM Services and NSG Rentals are scheduled to provide vacuum trucks, rental
vacuum units and pumps, confined space equipment, and manpower to Star Refining Company in Port
Arthur, Texas as a subcontract to Ceda, Inc. for a major tank cleaning operation.
Southport has filed for a Texas Railroad Commission permit to re-enter the Elder Brothers No. 2 well in
Gregg County, Texas. The Railroad Commission hearing for the permit application is set for Jan. 8. This
wellbore is located only 250 feet from Southport's No. 1 Elder, which generated nearly $50,000 gross
revenues in 1998.
"Revenue projections for fiscal year 1998 fourth quarter which ends March 31, 1999 appear to be quite
significant," said Jerry Pybas, President. "We are hard at work on new and following up on bids for each
of our subsidiaries and are pleased that the size and scope of these projects are continuing to grow."
CNH is a diversified oil and gas company in the business of oil and gas production/leases (Southport);
supplying rental services (maintenance/manpower/equipment/service) to off-shore oil rigs and on-shore oil
well sites (NORM Services); and waste disposal/cleaning up of NORM (Normally Occurring Radioactive
Materials) and NOW (Non-Hazardous Oil Waste) environments (NSG). For more information, visit the
Company's home page on the World Wide Web: normcleanup.com
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 from time to
time in the company's federal filings, annual report, offering memorandum, or prospectus.
CONTACT: CNH Holdings Company Inc., Kilgore
Gerald Pybas, 903/984-6425 |
