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Microcap & Penny Stocks : Penn Octane Corp (POCC) -- Ignore unavailable to you. Want to Upgrade?

To: David L. Dennis who wrote (34)	10/22/1997 12:33:00 PM
From: guy spector	Respond to of 45

Dow Jones Newswires -- October 22, 1997 Penn Octane Plans To File For Common Stock Offering REDWOOD CITY, Calif. (Dow Jones)--Penn Octane Corp. (POCC) may file with the Securities and Exchange Commission for a public offering of its common shares, subject to market conditions. In a press release Tuesday, Penn Octane said it will file for the public offering before the end of the fourth quarter, but any adverse changes in market conditions or general econmic factors might result in the delay or abandonment of its plan. The offering would be an underwritten primary and secondary offering. Seperately, the company said it completed a $1.5 million private placement consisting of promissory notes and warrants to purchase 250,000 common shares at the exercise price of $6. Penn Octane, a propane gas and propylene supplier, will use proceeds from the offering and placement to retire debt, make capital improvements and for general corporate purposes, it said.

To: David L. Dennis who wrote (34)	11/4/1997 11:32:00 AM
From: David L. Dennis	Read Replies (1) \| Respond to of 45

All: Company Press Release Penn Octane Corp. Announces Completion of $6,000,000 Credit Facility REDWOOD CITY, Calif.--(BUSINESS WIRE)--Nov. 4, 1997--J.B. Richter, president and CEO of Penn Octane Corp. (NASDAQ:SMALLCAP - news) announced today the completion of a $6 million credit facility with RZB Finance LLC, a wholly owned subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB-Austria). This credit facility will be used for working capital and Letters of Credit. Richter said that this Letter of Credit is a milestone for the new management of Penn Octane Corp. and is looking forward to a long-term relationship with RZB. Penn Octane is a leading supplier of liquefied petroleum gas to Mexico and propylene to the petrochemical industry in Texas. Penn Octane operates a 132-mile, six-inch pipeline from a pipeline in Kleberg County, Texas to its terminal in Brownsville, Texas, which acts as a trans-shipment point for delivery to Mexico. In addition, the company owns and operates PennWilson CNG Inc., located in Santa Fe Springs, Calif., a leader in compressed natural gas station design, engineering, manufacturing and safety. Contact: Penn Octane Corp. Jerry Richter, 650/368-1501