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 : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: USA who wrote (19624)	5/20/1998 11:06:00 AM
From: Jetta	Respond to of 34592

News just out on LOCH (OTC BB: LOCH) Basic Quote, Extended Quote, Profile, History, News, Chart News May 20, 07:11 Eastern Time AUSTIN, Texas, May 20 /PRNewswire/ -- Results from the first three re- entry wells in its Oklahoma holdings confirm the discovery of an unexpected zone announced last week by PetroTech Resources International, Inc. (PetroTech), a wholly-owned subsidiary of Loch Harris, Inc. (OTC Bulletin Board: LOCH). Rodney Boone, president and CEO of Loch Harris, Inc., said the three wells are initially producing 40 barrels of oil and 400,000 cubic feet of gas per day. Boone said 16 more wells will be re-entered and completed and nine new wells will be drilled during the rest of this year and 1999 to confirm two previously unexplored structural 'highs' in the Booch and Wilcox zones. "The nearest Wilcox well is more than a mile away," he said. "There is room for 30 more wells if our projections for the new discovery are correct." "The three re-entry wells that are now online and producing are expected to account for more than $200,000 in net income by the end of our current fiscal year. When the rest of the wells are re-entered and completed as planned, this figure will surely rise," said Mark Baker, CFO for Loch Harris, Inc. According to Baker, revenue from total production is expected to exceed $13 million over the next four years. PetroTech acquired nearly 1,800 contiguous acres in Okmulgee County, Oklahoma last May. Loch Harris, Inc. is a natural resources firm and technology incubator, and acquires businesses, technologies and patents that it determines may have potential for growth and possible spin-off. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. SOURCE Loch Harris, Inc. 05/20/98 /CONTACT: Mark Baker of Loch Harris, Inc., 512-328-7808/ /Web site: lochharris.com (LOCH) CO: Loch Harris, Inc.; PetroTech Resources International, Inc. ST: Texas, Oklahoma IN: OIL SU: DSC