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

To: Ga Bard who wrote (1073)	5/27/1998 12:11:00 PM
From: Harry_Behemoth	Read Replies (1) \| Respond to of 4142

An interesting release discussing ethanol-related tax incentives: CALGARY, Alberta--(BUSINESS WIRE)--May 27, 1998--Odyssey Petroleum Co(NASDAQ:OILYF) ODYSSEY PETROLEUM CORPORATION (NASDAQ:OILYF) ("Odyssey" or the "Company") is pleased to advise that on May 22, 1998 the United States Congress passed legislation extending the tax incentives for renewable alcohols through to the year 2007. This tax incentive extension supports the continued profitable operation of the Company's Wyoming Ethanol production facility in Torrington, Wyoming, and maintains the Company's role as a significant supplier of ethanol to the inter-mountain states and an important local employer. In addition, ethanol production provides an alternative market for grain and a source of high protein feed to the local feed-lot industry. Under the provisions of the legislation, the tax incentive will be scaled down from its current 5.4 cents per blended gallon to 5.3 cents in 2001, 5.2 cents in 2003 and 5.1 cents in 2005 and beyond. The reduced tax rate for gasoline containing ethanol produced from domestic renewable resources received widespread support from both United States political parties, the Administration, members of Congress, State Governors and a wide range of consumer and interest groups. It is anticipated that President Clinton will sign this legislation promptly.