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Microcap & Penny Stocks : Adair Intl. Oil and Gas (AIGI) -- Ignore unavailable to you. Want to Upgrade?

To: PHarris who wrote (764)	5/9/2001 8:57:46 PM
From: Bill Kinkade	Read Replies (1) \| Respond to of 769

Wednesday May 9, 8:58 am Eastern Time Press Release SOURCE: ADAIR INTERNATIONAL OIL & GAS, INC. ADAIR INTERNATIONAL OIL & GAS, INC. Engages Financial Consultant For Acquisition Capital HOUSTON, May 9 /PRNewswire/ -- John W. Adair, Chairman announced today that ADAIR INTERNATIONAL OIL & GAS, INC. (OTC Bulletin Board: AIGI - news) has engaged the services of the firm WORLD OF INVESTMENTS to raise capital in the amount of up to $100 million USD in order to acquire cash producing oil and gas properties within the Continental United States. The targets for acquisitions are approximately 75% proven, developed and producing within field drilling of proven undeveloped reserves making up the balance. ADAIR and its subsidiaries of Adair Power, LLC, Superior Geophysical and Adair Exploration have major projects and exploration acreage under development with projected future revenue exceeding $450 million at this time. ``The acquisition capital will fill the void the company needs to complete the cycle of establishing ADAIR as a substantial growing energy company,'' stated Mr. Jalal Alghani, Chief Financial Officer. ADAIR currently is shooting 3-D seismic on its 500,000 acre exploration Block 20 in Yemen where ADAIR is the operator during the exploration phase with Occidental and expects to drill its first well during the fourth quarter. ADAIR projects 360 million barrels of recoverable reserves based on seismic interpretation. ADAIR also has a number of natural gas fired power plants underdevelopment, which includes the 600 MW plant in Southern California with Calpine. ADAIR is also listed on the Frankfurt and Hamburg exchanges in Germany. This news release contains forward-looking statements within the meaning of Securities Litigation Reform Act that involves risk and uncertainties, including exploration, development, operational and marketing and implementation risks, and other facts described from time to time in the company's public available SEC reports which could cause results to differ materially. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE: ADAIR INTERNATIONAL OIL & GAS, INC. Email this story - Most-emailed articles - Most-viewed articles -------------------------------------------------------------------------------- More Quotes and News: Adair International Oil and Gas Inc (OTC BB:AIGI.OB - news) Related News Categories: oil/energy, real estate