To: Paul R Hnott who wrote (6932 ) 4/22/1998 4:29:00 PM From: kenyshoe Respond to of 11708
Please keep in mind the DATE of the article, We could be there any day! Lets also keep in mind the positive remarks of the article . . . I view most of this piece as "free advertising" (JMO) PENNY STOCK FIRM GETS STATE PE ... 03/26/1998 Salt Lake Tribune Types: Business Published: 03/26/1998 Page: B4 Keywords: Stocks & Bonds; Businesses; UT; Enviroment Penny Stock Firm Gets State Permit For Disposal Well Byline: BY STEVEN OBERBECK THE SALT LAKE TRIBUNEA small Salt Lake City-based penny stock company says it has an answer for those Utah businesses that have an extra tanker truck or two of unwanted spinach juice or septic-tank sludge sitting around. Enviro-Tec, a unit of publicly held Coconino Inc., said Wednesday it has received the final state permit that allows it to take such nonhazardous ''Class V'' liquid waste and pump it into a disposal well near Duchesne. ''This is the first disposal well of its kind in the state and the only one within 400 miles,'' says Mike Millis, spokesman for Coconino. ''We are open and ready for business.'' Well, maybe not exactly open. Don Ostler, director of the state's Division of Water Quality, says the company may have the permit, but it still has a lot of work to do before it can start pumping waste into the ground. ''There are major conditions attached to the permit that have to be met before they can begin to operate,'' he says. For instance, the company is going to have to do further work ''proving up the integrity of its well'' to make sure that it does not leak and there are no connections to nearby oil wells. Meeting those conditions could take months, Ostler says.Millis says, ''It's just a matter of perspective. It is not as if we expect the trucks to start rolling in right now. We just do not think it is going to take that long.'' Still, Coconino President Hamlin K. Elrod released a company statement Wednesday that described launching of operations at the well a "tremendous breakthrough.'' Elrod says operations at the well means Coconino -- which to date has generated a portion of its revenues from selling air fresheners -- ''can begin to realize the substantial revenues and profits that a unique well like Enviro-Tec's can generate.'' Coconino's disposal facility is an old oil well that no longer produces.