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Gold/Mining/Energy : Nevtah/Tower Oil Intl.- NTAH -- Ignore unavailable to you. Want to Upgrade?

To: Chuck Delo who wrote (2643)	7/30/1998 1:13:00 PM
From: Ditchdigger	Respond to of 3817

Hi Chuck,news sounds good,there is plenty of potential IMO. But, still very vague."Pamco has executed an agreement with a major oil and gas company [ What company? They say the agreement has been executed,again, What company?] to install a special application of its system that will remove water from a gas well and separate the gas from the water. The Company has over 500 methane gas wells and 4000 oil wells that can utilize Pamco's technology. They also plan on drilling an additional 100-150 methane gas wells per year. Pamco has successfully completed a one year Beta test on gas well applications. Pamco met with the company engineers and production managers to review the test results. The parties then agreed and set forth a schedule and budget to begin installing Pamco's system on their gas wells. What is the schedule? What is the budget? How many systems to begin with? How many in a years time? "Nevtah/Pamco is finalizing negotiations for several leases in Corsicana, Texas. These leases include several hundred acres of mineral rights with several hundred currently producing oil wells. The acquisition will include drilling rigs, equipment, buildings and other assets. These leases also have large proven reserves with substantial additional drilling opportunities." How many barrels? How many cu.ft of gas? If they're proven,they should be listed in the current holders assets. "Pamco has been developing its technology since 1986. They tested the system on over 50 oil wells while finalizing the design and application of its pump system. The final design has been tested on 6 wells over the past 15 months." 6,is a long way from 500,1000,etc.. Perhaps they should stick to oil services,and hold off on exploration until they're cashflow increases...And how are they going to pay for the leases with proven reserves? For Matagorda drilling,through production? DD PS: please don't flame me,would like to discuss the points..just doesn't sound to concrete,but potential has a value.. back latter,the important thing is the stock is moving up<g>....