Today's news release:
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Friday February 21 9:15 AM EDT
Amalgamated Explorations acquires exploration properties
DENVER--(BUSINESS WIRE)--Feb. 21, 1997--Amalgamated Explorations (NASDAQ/BB:AXPL) is pleased to announce the completion of
substantial acquisitions of major new oil and gas properties.
Leases totaling 9,600 acres were added to the company's holdings.
Five thousand acres flank the well-known Teapot Dome of Natrona County. A U.S. Navy petroleum reserve, Teapot Dome has been productive for
more than 60 years.
An additional 600 acres were added to the company's position on Boone Dome, also located in Natrona County, Wyo.
Finally, 4,000 acres in a Montana "wildcat" project are now part of Amalgamated holdings.
Christian F. Murer, president of Amalgamated Explorations, stated: "Amalgamated is currently in a land acquisition phase of growth. We are
concentrating on identifying, through application of principles of geology aided by electrotelluric survey, those properties we believe will be most
productive. We are currently evaluating other prospects in Wyoming, California, New Mexico, Arizona and Texas."
The electrotelluric survey uses the Earth's natural electromagnetic field to detect oil and gas deposits, disclosing the location of deposits to depths
of 17,000 feet. This new patent pending technology is the latest in oil and gas exploration. This technology can detect the actual hydrocarbon
through anomalies in ultra-low-frequency electromagnetic waves.
The survey can be completed in five minutes, gives instant infield results and is totally non-invasive. Unlike seismic, there is no environmental
damage from the survey.
For the first time, it is possible to determine whether a property is likely to be commercially productive without the time and expense of drilling a
test hole.
For more information about Amalgamated Explorations and the electrotelluric survey, visit the company's Web page at findoil.com .
CONTACT: Amalgamated Explorations Inc.
Jon Vaux, 888/999-8787
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At least the company is trying to get investor attention. This could be worthwhile stuff! |
