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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 (2793)	6/8/1998 9:48:00 AM
From: rharris	Read Replies (2) \| Respond to of 4142

(BSNS WIRE) Midland Announces Headquarters Move to Houston Midland Announces Headquarters Move to Houston Business Editors HOUSTON--(BUSINESS WIRE)--June 8, 1998--The Company announced today that Daniel W. Fisher, the Chairman/CEO has resigned as an Officer and Director of Midland, (Nasdaq BB:MIDL) effective June 5, 1998, to pursue other interests. The President and COO, John Spriggs, has been appointed to replace Mr. Fisher. In addition, the Board of Directors has decided to close the Dallas office and move the Headquarters to the Houston office location. It is estimated that the consolidation of operations will generate savings of $300,000 per year in operating expenses. The Company is currently negotiating to acquire the 90,000 shares of Preferred B stock that Mr. Fisher owns in the Company. It is anticipated that those negotiations will be successful and the fully diluted outstanding common stock will be reduced by 14,000,000 shares. Additional information will be made available as soon as events warrant. For additional information contact John Spriggs at 281/493-2722. --30--DJ/da* CONTACT: Midland, Inc., Houston Wayne Duke Fax: 972/991-3295 KEYWORD: TEXAS INDUSTRY KEYWORD: OIL/GAS MANAGEMENT CHANGES Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com