Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: David L. Dennis who wrote (39)	1/1/1998 7:13:00 PM
From: David L. Dennis	Respond to of 45

Another news report: Tuesday December 30, 2:12 pm Eastern Time Company Press Release Penn Octane Corporation Announces Order for CNG Powered Vehicles REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec. 30, 1997--J.B. Richter, President and CEO of Penn Octane Corporation (NASDAQ SmallCap:POCC - news) today announced that the Company has received orders to provide 450 compressed natural gas (CNG) powered vehicles, subject to acceptable financing terms, from the Union De Credito Industrial, Comercial Y De Servicios Del Estado De Mexico, S.A. De C.V., the credit union for one of the largest public transportation companies in the State of Mexico. ''The demand for CNG powered vehicles in Mexico stems from the need to replace older fleets which are inefficient, unsafe, expensive to operate and very pollutant.'' Furthermore Richter commented, ''CNG powered vehicles have been proven to lower annual maintenance and overall operating costs and increase the vehicles engine life by as much as 50%.'' The Company intends to provide these CNG powered vehicles through a previously announced private placement for a minimum of $30 million, which is being underwritten by Rodman and Renshaw, Inc. of New York City. The placement is expected to be completed in January 1998. 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, CA, a leader in compressed natural gas station design, engineering, manufacturing and safety.