NEOM.Waiting for merger.Looking at the last PR says:additional 5,963,748 barrels, more than 13.67 million barrels in all.SO 13.67 million barrels times $30.00 per barrel=$410 million.I doubt that but will see.
(COMTEX) B: NeoMedia Says First Truckload of Oil from Loch Energy 'Sold an
B: NeoMedia Says First Truckload of Oil from Loch Energy 'Sold and Shipped'
FT. MYERS, Fla, and HOUSTON, Jul 29, 2003 (BUSINESS WIRE) -- NeoMedia
Technologies, Inc. (OTCBB: NEOM), said today said that Loch Energy, Inc., which
it plans to acquire, has shipped the first truckload of oil from one of its
leases.
"Loch CEO Patrick E. Ashworth reported that the first truckload of oil from its
R.E. Burt lease left the field via tanker on schedule late last week," said
Charles T. Jensen, NeoMedia's president and acting CEO.
Ashworth said the truckload, 130.66 barrels in all, "was sold and shipped at a
gross price of $30.22 per barrel, which is comparable to the benchmark price of
West Texas Intermediate."
Two weeks ago, Loch announced selling and shipping the oil (see "NeoMedia Says
Loch Energy Has Contract for Sale of First Truckloads of Oil from its R.E. Burt
Lease Well," Business Wire, July 15, 2003. NeoMedia previously announced plans
to acquire and merge with Loch (see "NeoMedia Reaches Agreement in Principal to
Acquire Loch Energy, Inc." Business Wire, March 13, 2003), which owns mineral
and lease rights to five properties totaling approximately 130 acres. That
announcement said evaluation and estimates by oil specialists of Loch's position
show proven reserves of some 7,707,247 barrels, and probable reserves of an
additional 5,963,748 barrels, more than 13.67 million barrels in all.
On Monday, NeoMedia also announced plans to acquire and merge with Secure Source
Technologies of Silver Spring, Maryland (see "NeoMedia Technologies, Inc., Signs
LOI to Acquire Secure Source Technologies, Including Seven Patents with Homeland
Security and Cellular Industry Applications," Business Wire, July 28.)
About NeoMedia Technologies
NeoMedia Technologies, Inc. (www.neom.com), is an innovator and international
leader in print-to-Internet and other technologies which make information faster
and easier to access, with expertise in homeland security and e-authentication
applications.
About Loch Energy, Inc.
Loch Energy, Inc., is a low-cost, environmentally-conscientious and safe
producer of oil and gas properties, and a strong advocate of creating an
environment in which the oil and gas industry, and related businesses, prosper
and grow through responsible development of Texas's natural resources.
This press release contains forward-looking statements within the meaning of
section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. With the exception of historical information contained
herein, the matters discussed in this press release involve risk and
uncertainties. Actual results could differ materially from those expressed in
any forward-looking statement.
SOURCE: NeoMedia Technologies, Inc.
CONTACT: NeoMedia Technologies, Inc.
Charles T. Jensen, 239-337-3434
cjensen@neom.com
or
Loch Energy, Inc.
Patrick E. Ashworth, 281-548-0175
or
The Kaminer Group
David A. Kaminer, 914-684-1934
dkaminer@kamgrp.com
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-0-
KEYWORD: TEXAS FLORIDA
INDUSTRY KEYWORD: E-COMMERCE
INTERNET
HARDWARE
ENERGY
OIL/GAS
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