Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: trial user who wrote (4255)	8/5/1998 5:54:00 PM
From: Ray Juliano	Read Replies (1) \| Respond to of 4736

Does anyone remember any of the details of NAMX's "agreement(s)" with Union Pacific Resources? I just noticed this press release and can't remember what the deal is/was that NAMX and UPR supposedly had if there even was any to start with. Wednesday August 5, 4:01 pm Eastern Time Company Press Release SOURCE: Union Pacific Resources Group Inc. Union Pacific Fuels and BOC Gases Announce Helium Supply Agreement FORT WORTH, Texas, Aug. 5 /PRNewswire/ -- Union Pacific Fuels, Inc. (UPFI), a wholly owned subsidiary of Union Pacific Resources Group Inc. (NYSE: UPR - news), and BOC Gases (BOC) jointly announced a long term agreement under which BOC will purchase up to 150 million cubic feet of liquid helium per year from UPFI. The contract has an annual value of approximately $6 million, or as much as $60 million over the entire contract life. Deliveries under the agreement will commence in April 1999. The helium will be produced at a natural gas processing facility that UPFI will operate near Cheyenne Wells, Colorado. This plant, which is scheduled to start up in September 1998, will be capable of producing 500 million cubic feet per year of liquid helium when it has been expanded to its full capacity. The UPFI plant will also produce pipeline quality natural gas and natural gas liquids. According to Phil Kornbluth, BOC's Director, Helium, ''The supply agreement with Union Pacific Fuels will give BOC the capacity required to meet the anticipated growth in helium demand after the millennium. The new supply will also enable BOC to enhance the security of supply that it can offer its customers by further diversifying our supply portfolio.'' ''We are pleased to enter into this agreement as it will allow us to further monetize the hydrocarbon and helium assets located on our Land Grant acreage,'' said Don Niemiec, president of UPFI. ''This agreement with BOC provides us with a strong and reliable partner.'' The UPFI plant will be only the twelfth plant worldwide with the capability to produce liquid helium. BOC will have access to liquid helium supplies from seven of those plants, more than any other supplier. BOC operates one of the world's largest helium production facilities in Otis, Kansas and sells helium through an industry leading network of 43 transfill facilities. A previously announced major expansion of the Otis, KS facility will be completed by October 1, 1998. Helium is used in a variety of applications including MRI, optical fiber manufacturing, semiconductor chip manufacturing, welding, leak detection, controlled atmospheres, lifting and others. Union Pacific Fuels, Inc. is the wholly owned marketing subsidiary of Union Pacific Resources Group Inc. Union Pacific Resources Group Inc. is one of the nation's largest independent oil and gas producers. Headquartered in Fort Worth, Texas, UPR has been the #1 domestic driller for the past five years and is the #1 gas producer in the state of Texas. BOC Gases is the industrial gases business of The BOC Group (NYSE: BOX - news), the worldwide industrial gases, vacuum technologies and distribution services company operating in more than 60 countries with sales last year of $6.4 billion. This press release, other than historical financial information, contains forward looking statements that involve risks and uncertainties including planned construction activity and expected production efforts and volumes and other risks and uncertainties detailed in the Company's SEC reports, including the report on Form 10-Q for the quarter ended June 30, 1998. Actual results may vary materially. SOURCE: Union Pacific Resources Group Inc. -------------------------------------------------------------------------------- More Quotes and News: BOC Group PLC (NYSE:BOX - news) Union Pacific Resource Group Inc (NYSE:UPR - news)