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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ed Hoftell who wrote (68)	5/22/1998 4:50:00 AM
From: Ed Hoftell	Read Replies (1) \| Respond to of 4142

Enter any ticker symbol to get a detailed quote on that symbol. Also enter all or part of a company name to look up a new symbol. Midland, Inc. Announces California Breakthrough and Patent Info Business Wire - April 16, 1998 18:14 %MIDLAND MIDL %TEXAS %CALIFORNIA %ENERGY %OIL %GAS V%BW P%BW -------------------------------------------------------------------------------- Jump to first matched term DALLAS--(BUSINESS WIRE)--April 16, 1998--Midland, Inc.'s (Nasdaq/BB:MIDL) subsidiary, Arcon, announces a schedule of completion of the DF-144 Plant. The state-of-the-art plant has been designed with continuous monitoring and the quality control features producing an ethanol-based gasoline-blending component and will be completed in the early fall of 1998. The significant aspects of DF-144 (Dynamic Fuel-144): -- DF-144 is not ether-based and is therefore more environmentally "friendly" than additives such as MTBE or ETBE. -- DF-144 is less expensive than all competitors due to the higher octane blend value achieved in the process. -- The capital investment required to produce DF-144 is a fraction of that required by competitive products and a typical plant will return the initial investment in less than 24 months and is expected to generate above average returns for the long run. -- DF-144 is registered with the EPA under the confidentiality provision of the rules and regulations as set forth by the EPA. The largest single motor fuel market in the world is California. A prominent international refining consultant retained by Arcon has estimated the demand for DF-144 would be in excess of 70 plants to cover the northern and southern parts of California. Until now, ethanol-based gasoline has not been sold in the state. Each DF-144 plant at 100,000 gallons per day will produce $36 million per annum and net $7 million, and production commences in September 1998. California is the largest based gasoline market in the U.S.A. Ethanol gas has 12% of the present market and this sets the precedent for many other states. A bill introduced by Senator Feinstein would require other states to drop MTBE from gasoline (see MTBE on the Internet) and replace it with ethanol. There are 332 million gallons of gasoline sold daily in the U.S. Arcon will receive 5.4 cents per gallon cash rebate from the federal government on all ethanol gasoline blended and sold by Arcon containing DF-144. Tosco/NYSE now announces the following quote in Los Angeles Times: TOSCO to sell gasoline without MTBE in Calif. LOS ANGELES...Tosco Corp. on Wednesday said it has begun selling gasoline without the controversial gasoline additive MTBE in part of California. The Connecticut-based refiner and marketer said the six-month pilot program will replace MTBE, or methyl tertiary butyl ether, with corn-based ethanol at 50 of its "76" brand gasoline stations in three counties around San Francisco. "This gasoline we are producing will meet all of California's strict air quality requirements without the use of MTBE and will reduce the risk to the state's valuable water resources," Tosco Chairman Thomas O'Malley said in a statement. This is a major breakthrough for ethanol fuels and the demand for our plants should far exceed supply in the near future. See 4/15/98 Tosco Release. Daniel W. Fisher and John H. Spriggs have issued instructions to file additional patents on the DF-144 (Dynamic Fuels) process and newly engineered plant. Brownell & Roberts, Washington D.C.'s foremost patent attorneys will execute this additional breakthrough information in the United States and 80 countries. Arcon has the only octane enhancer process that enables regular ethanol to produce a product with octane as high as 227. The process is applicable to motor fuels, aviation and marine ethanol gasoline. No other process worldwide will be as cost effective. The Company announces the opening of our Houston operations center. It is a more desirable location from the technical and supply side of the gas business, and, as the initial plant is being constructed at Victoria, Texas (near Houston), more daily supervision is required. Since we expect several plants for production in the next two years, certain management changes are being made as the Company structures itself more toward its core business. The board of directors has eliminated the position previously held by Willard McAndrew. Those functions previously performed by McAndrew will be the responsibility of Daniel W. Fisher. The Company appreciates the effort and accomplishments of McAndrew and wishes him well in his future endeavors. John Spriggs will become the Chief Operating Officer supervising all technical and manufacturing operations in Houston. We expect further announcements soon. References on the Internet -- MTBE, Tosco. CONTACT: Midland, Inc., Dallas Investor Relations, 888/478-5010

To: Ed Hoftell who wrote (68)	5/22/1998 4:56:00 AM
From: Ed Hoftell	Respond to of 4142

Midland, Inc. Makes Corporate Announcements Business Wire - April 22, 1998 15:21 %MIDLAND MIDL %TEXAS %CALIFORNIA %ENERGY %OIL %GAS V%BW P%BW -------------------------------------------------------------------------------- DALLAS--(BUSINESS WIRE)--April 22, 1998--Midland's subsidiary, Arcon, announces the following: Bob West Field After extensive evaluation of the South Falcon Dam extension of the Bob West Field in Texas, Arcon has elected to withdraw from the project. The risk involved in the initial $11 milion project is significant from the legal and production view. It is Arcon's opinion that production in the South Falcon would be marginal, and we have elected to concentrate development efforts on DF-144, in light of recent stunning developments in California. California The recently announced development of ethanol-based gasoline sales in the "Golden State" has opened up tremendous opportunities for Arcon's DF-144. The market alone could represent as high as 7 million gallons per day and 2 billion in sales. Arcon has developed a 100,000-gallon per day plant and is expanding to a variable 350,000 gpd jumbo plant. In simplistic terms, ethanol for gasoline blending costs $1.20 per gallon and has a blend value of 115%. Ethanol is added to other components such as raffenate napthas to make 87-91-93 octane gasoline. Arcon's ethanol DF-144 (Dynamic Fuel 144) costs $1.05 per gallon and has a blend value of 165 octane. There are tremendous cost savings to the blender by using only 12-20% of DF-144 per gallon of gasoline. The Renewable Fuels Association reports that ethanol has not been used in motor gasoline in California due to excessive costs resulting from arbitrary barriers put on ethanol by the California regulators. Tosco has taken a giant step in responding to consumer demands by introducing ethanol blended gasoline in California. Assemblywoman Debra Bowen, Natural Resources Committee Chairwoman, has introduced AB 1642, which would provide the flexibility to allow refiners a choice of oxygenates. The Transportation committee recently approved the legislation unanimously (23-0). The potential for our product now appears to be beyond our greatest expectations. Plant Commissioning Arcon has commissioned Maverick Engineering, Inc. to manufacture its first 100,000-gallon plant for production in Sept. 1998. Milestones for the plant are as follows: -- April 24 -- HAZOP study complete (Hazardous operations OSHA is complete); -- May 1 -- Issue process and final installation plans; -- May 8 -- Final signoff of engineering requirements; -- May 8 -- Issue turnkey contract; -- June 26 -- Supervision of detailed design project; -- July 3 -- Authorize procurement of all equipment, pumps, etc.; -- July 17 -- Assemble unit for completion; -- Aug. 14 -- Site installation ready for completion; -- Sept. 1 -- Complete commissioning and start up. Arcon is busily defining markets in several regions of the country, such as Colorado, Ohio, Indiana in addition to California and has been contacted and is in discussion with two major corporations about DF-144. Industry experts have cautioned us that we may be underestimating and possibly undervaluing DF-144 as to the size of the market and the present price. Arcon is receiving international inquiries also. Management also is taking investment advisement on the share structure of Midland; particularly the Series "A" preferred on ways to enhance the total value for sophisticated and institutional investors. Lastly, Arcon's website will be available within a week at Arconlimited.com. If you would like to be placed on our e-mail information list, please communicate it to us via e-mail at archem@swbell.net or fax at 972/991-3295 or call toll-free 888/478-5010. CONTACT: Midland, Inc., Dallas Investor Relations, 888/478-5010

To: Ed Hoftell who wrote (68)	5/22/1998 4:59:00 AM
From: Ed Hoftell	Respond to of 4142

Midland Inc. Announces a 50% Preferred 'A' Stock Dividend Business Wire - May 18, 1998 09:41 %MIDLAND MIDL %TEXAS %ENERGY %OIL %GAS %DIVIDEND V%BW P%BW -------------------------------------------------------------------------------- Jump to first matched term DALLAS--(BUSINESS WIRE)--May 18, 1998--Daniel W. Fisher, CEO of Midland Inc. (OTC BB:MIDL), today announces the following two items, both of which are felt to be beneficial to the company and the shareholders. First, there will be a dividend on the publicly traded series A preferred stock (MIDLP). For every two shares of existing preferred series A stock held by shareholders of record on the close of the business day, May 29, 1998, a dividend of one share of preferred will be issued. This dividend will automatically convert to 35 shares of common stock on Oct. 1, 1999, whereas the existing preferred A will automatically convert on Oct. 1, 1998. This 50% stock dividend is being taken from existing treasury so no additional dilution to the existing shares will occur. Management feels this is a fair dividend for the shareholders who have supported Midland Inc. through its early stages of development. The second matter is a reduction of the exercise price of the Midland warrants (MIDLW) from $1.00 to $0.50. This brings the exercise price of the warrants in line with the common. All other conditions concerning the warrants will not be effected. As soon as the registration statement registering the common stock underlying the warrants becomes effective, the warrants may be exercised. The company anticipates concluding the necessary SEC filings as soon as possible and has begun the necessary regulatory process. The company has concluded the field work on its audit so as to move forward with its 10-K filing, which should occur sometime next week. Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. CONTACT: Midland Inc., Dallas Daniel W. Fisher, 972/991-3200

To: Ed Hoftell who wrote (68)	5/22/1998 5:03:00 AM
From: Ed Hoftell	Respond to of 4142

Enter any ticker symbol to get a detailed quote on that symbol. Also enter all or part of a company name to look up a new symbol. Midland, Inc. Announces Exxon Corp. Enters Into an Agreement to Test DF-144 Business Wire - May 21, 1998 17:03 %MIDLAND MIDL XON %TEXAS %CALIFORNIA %ENERGY %OIL %GAS V%BW P%BW -------------------------------------------------------------------------------- Jump to first matched term HOUSTON--(BUSINESS WIRE)--May 21, 1998--John H. Spriggs, C.O.O. of Midland, Inc. (OTC/BB:MIDL), today announces their wholly owned subsidiary Arcon Energy has received a request from Exxon (NYSE:XON) for samples of "DF-144." Exxon intends to test the DF-144 in their Research and Development Laboratories in Baton Rouge, La. Under a mutually acceptable confidentiality agreement, Arcon has agreed to provide Exxon with the necessary material to test DF-144. Exxon has agreed to furnish all test results provided both parties remain confidential at this time with any test data. Currently Exxon's attorney is drafting an agreement for Arcon's approval and signature. DF-144 is now registered with the EPA as required by law. On behalf of Arcon Energy, Maverick Engineering will provide all necessary MSDS data sheets and has been contracted to design and supervise the construction of Arcon's new plant. John H. Spriggs, C.O.O. of Arcon Energy, stated, "It is extraordinary that a major Fortune 500 Company agrees to test the product of a small, undiscovered company such as Arcon Energy. Due to the complication of the ethanol industry, particularly in Calif., DF-144 is attracting nationwide attention." Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. CONTACT: Midland, Inc., Dallas