Environmental Safeguards, Inc.'s Joint Venture Receives Contract in Excess of $12,000,000
PR Newswire, Monday, March 10, 1997 at 11:41
HOUSTON, March 10 /PRNewswire/ -- Environmental Safeguards, Inc.
(BB: EVSF), announced today that EVSF's 50/50 joint
venture with Parker Drilling Company (NYSE: PKD), OnSite Technology L.L.C.
("OnSite") has received a contract from British Petroleum (Colombia)
Company, Ltd. ("BPXC") which will generate revenues for the next two years
in excess of $12,000,000. The contract from BPXC calls for an additional
Series 6000 Indirect Thermal Desorption Unit ("ITD Unit") to join the
initial ITD Unit which commenced operating in Colombia on November 11,
1996. Effective March 1, 1997, both ITD Units will commence operating
under long-term two year contracts.
EVSF Chairman Jim Percell stated, "This level of revenue from only two
ITD Units will have a tremendous positive impact on future financial
operating results. Obviously, we are extremely pleased with this very
strong indication of confidence from British Petroleum in Colombia. As
our next three additional ITD Units near completion, we will be able to
cite both the operating results of the Series 6000 ITD Unit and our
personnel to other industry participants which have contacted OnSite
regarding our reclamation and remediation services.
Environmental Safeguards, Inc., through its proprietary processes, is
a recycler and remediator of hydrocarbon and hydrocarbon derivative
contaminated soil.
SOURCE Environmental Safeguards, Inc.
-0- 3/10/97
/CONTACT: Michael M. Dunson, Chief Financial Officer of Environmental
Safeguards, Inc., 713-641-3838/ |
