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Microcap & Penny Stocks : EDII -- Ignore unavailable to you. Want to Upgrade?

To: ColleenB who wrote (817)	6/6/1998 11:12:00 AM
From: Eagle	Respond to of 2849

I just found this searching Usenet. I don't recall seeing it posted here. I apologize if I'm double posting. BusinessWire, Friday, May 29, 1998 at 09:01 KEMAH, Texas--(BUSINESS WIRE)--May 29, 1998--Energy Drilling Industries, Inc. (OTCBB:EDII) announced today the Board of Directors of Acqueren, Inc. and its wholly owned subsidiary, NorthEastern Plastics, Inc. have voted for the merger with Energy Drilling Industries, Inc. The Board of Directors of Energy Drilling Industries, Inc. have also voted for this merger. Acqueren and its subsidiary are both profitable and will add substantial revenues and profits to Energy Drilling Industries, Inc. NorthEastern Plastics, Inc. is in the business of manufacturing and importing a variety of electrical wire and cable products sold to different retail and automotive chain stores. The acquisition of Acqueren, Inc. will not encumber the company with any debt, and the shares exchanged for this acquisition will be totally restricted. Energy Drilling Industries, Inc. previously announced the acquisitions of Intile Designs, Inc. and Cinema Research Corp. The Board of Directors of both companies voted for these acquisitions and the final documentation and closings should take place in the next 30 days. Upon completion of these transactions Energy Drilling Industries, Inc. revenues will be approximately $50,000,000 and profitable, with a book value per share increasing by 150 percent. Energy Drilling Industries, Inc. already owns Pitts & Spitts, Inc., Har-Whit, Inc., Brenham Oil & Gas, Inc., and Texas Real Estate Enterprises, Inc. Energy Drilling Industries, Inc. has five divisions: industrial, financial, oil and gas, real estate and entertainment. Energy Drilling Industries, Inc. assists its subsidiaries vertically, to build each division in its own field. CONTACT: Investor Relations Joe Gort, 800/778-9204 or Geor