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Microcap & Penny Stocks : DAWC (Welcome CDMD Investors)
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To: Jim B who wrote (57)2/13/1997 2:26:00 PM
From: Trooper   of 177
 
NEW YORK, Feb. 13 /PRNewswire/ -- United Energy Corporation announced today that it has entered into a distribution agreement with Presidio Limited Partners for the marketing of its KH-30 Compound in the Appalachian Basin which includes the states of New York, Pennsylvania, Ohio and West Virginia.

Presidio's management has many years of experience in drilling and operating oil and gas wells in the Appalachian Basin. Presidio began sales of the KH-30 Compound in the first week of January and expects to introduce the product throughout the territory during the first quarter of 1997.

A program for the testing of certain oil wells in New York state was completed in November, 1996 with very favorable results in both enhanced production and lower lease operating expenses. Of the five wells tested, (all with positive results) the Gage No. 1 is highlighted because after treatment with KH-30 Compound, the production of this well increased from 10 barrels of oil a day to as many as 40 barrels, and eventually leveled off at 20 barrels per day. Presidio will use these favorable results to demonstrate the benefits of KH-30 to producers and operators.

UNRG's president, Ronald Wilen, stated "The agreement with Presidio underscores the ability of this safe, biodegradable product to benefit oil and gas wells in producing areas other than Texas and Oklahoma where it was first used."

SOURCE United Energy Corporation

CO: United Energy Corporation; Presidio Limited Partners

ST: New York

IN: OIL

SU:

02/13/97 10:46 EST prnewswire.com
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