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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: LANCE B who wrote (14573)	8/26/1999 10:04:00 AM
From: vagabond	Read Replies (2) \| Respond to of 108040

So are the Pokeys just taking a breather, or was it a one-day frenzy?... Vagabond

To: LANCE B who wrote (14573)	8/26/1999 10:16:00 AM
From: LANCE B	Respond to of 108040

NUTK-ALSO BOUGHT THIS MORNING (BSNS WIRE) Nutek Inc. Announces They Have Struck Oil With Their Most Re Nutek Inc. Announces They Have Struck Oil With Their Most Recent Well Business Editors LAKE FOREST, Calif.--(BUSINESS WIRE)--Aug. 26, 1999--Nutek Inc., (OTC BB:NUTK - news), a holding company, Thursday announced they received news at 4:40 p.m. PST August 24, 1999 that they had struck oil. This well, which was announced in July 20, 1999, has finally started producing oil after pumping water for two weeks. This has now started producing 10% oil and the company anticipates this percentage to rise to 80% to 90% very quickly. Once this occurs, the company will have a very successful well, but more importantly, with the success of this well, the company will be looking to drill several more wells on this lease once it is feasible. According to the company's geologist report, the company has 322,600 barrels of oil and at the current price of $18.75 barrel, the company is looking at just over $6 million in revenues from this lease. Safe Harbor for Forward-looking Statements: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market competition, risks inherent in the company's operations. --30--JV/np* JS/np CONTACT: Nutek Inc., Lake Forest 949/587-9400 Fax: 949/587-9534 E-mail: investors@nutk.com Web site: www.nutk.com KEYWORD: CALIFORNIA