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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ldo79 who wrote (52337)	10/4/1999 9:36:00 AM
From: inchingup	Read Replies (1) \| Respond to of 95453

Is anyone familiar with... the following company? PHOENIX--(BUSINESS WIRE)--Oct. 4, 1999--Pacific & Texas Pipeline and Transport Company announced today that they have entered a joint venture agreement with Pan Kai Development USA Inc. to jointly build, construct and operate the Crude Oil pipeline and Fibre Optic System pipeline from the Port of Los Angeles to Midland, Texas. Construction of a 42 inch underground pipeline of over 1,000 miles to Midland, Texas with the fibre optic system installed in the same trench has been budgeted at $3.5 billion with an estimated 30 month construction schedule. Bethlehem Steel, Westinghouse and Ingersol Rand will be involved in the construction of the Crude Oil pipeline. AT&T will provide the technology and design for the fibre optic pipeline. AT&T has also proposed to construct the fibre optic pipeline for Pacific Texas Pipeline and will become one of the users of the fibre optic pipeline after its completion. Pacific & Texas Pipeline & Transport Company has secured the rights of way and all the necessary permits to build and construct the pipelines from the Port of Los Angeles to Midland, Texas. A joint venture company will be formed between Pacific & Texas Pipeline and Transport Company and Pan Kai Development USA Inc. All the rights of way and permits for the building and construction of the pipelines will be assigned to the joint venture company. --30--mr/sf* lmm/sf CONTACT: Pacific & Texas and Transport Company M.L. "Matt" Matlock, 972/458-0334 Looks on paper to be a significant deal, however PKDV one of the JV's has no verifiable assets. Any help would be appreciated. What REAL companies in the sector would benefit. TIA --GARY--