Environmental Safeguards, Inc.'s Joint Venture Receives Letter of Intent to Increase Services in Colombia
PR Newswire, Thursday, February 20, 1997 at 12:08
HOUSTON, Feb. 20 /PRNewswire/ -- Environmental Safeguards, Inc.
(OTC: EVSF) announced today that based upon the excellent operating results in
Colombia of its initial Series 6000 Indirect Thermal Desorption Unit
("ITD Unit"), OnSite Technology L.L.C. ("OnSite"), EVSF's 50/50 joint venture
with Parker Drilling Company (NYSE: PKD), has received a letter of intent from
British Petroleum (Colombia) Company, Ltd. to substantially increase OnSite's
services in Colombia. The letter of intent calls for an additional Series
6000 ITD Unit on a long term, two year contract. The Company anticipates it
will ship the second ITD Unit to location in Colombia in the near future.
OnSite's first ITD Unit in Colombia has been operating since November 11,
1996.
EVSF Chairman Jim Percell stated, "We are extremely proud of our
performance for British Petroleum in Colombia. This letter of intent is a
very strong vote of confidence by a worldwide industry leader that our
technology successfully addresses their requirements. This will obviously
have a very positive impact on our annual revenues, but more importantly this
will further establish our presence as a leader in our sector of the
industry."
Environmental Safeguards, Inc., through its proprietary processes, is a
recycler and remediator of hydrocarbon and hydrocarbon derivative contaminated
soil.
SOURCE Environmental Safeguards, Inc.
-0- 02/20/97
/CONTACT: Michael M. Dunson, Chief Financial Officer of Environmental
Safeguards, Inc., 713-641-3838/ |
