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.

Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: BamaReb who wrote (9403)	1/19/1999 10:51:00 AM
From: DEER HUNTER	Read Replies (1) \| Respond to of 11888

Tuesday January 19, 10:26 am Eastern Time Company Press Release American International Petroleum Obtains Conventional Financing NEW YORK--(BUSINESS WIRE)--Jan. 19, 1999--American International Petroleum Corporation (NASDAQ-NMS: AIPN - news) announced today it has obtained an aggregate of approximately $4,000,000 of conventional financing, of which approximately fifty percent has been funded. The balance of the financing is anticipated to close before February 1, 1999. Proceeds are being used for various working capital purposes, including the purchase of feedstock for refinery operations. Additionally, the Company is pursuing various other financing strategies in order to finance certain expenditures for its exploration and development activities in Kazakhstan and expansion of its domestic refinery operations in the Gulf Coast region. American International Petroleum Corporation is a diversified petroleum company which, through various wholly owned subsidiaries, is involved in oil and gas exploration and development in the Republic of Kazakhstan, and in refining, marketing and transportation of its refined products in the United States. The matters discussed herein are forward-looking statements. These statements involve risks and uncertainties, such as timely availability of products and services, as set forth in the Company's filing with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein. ------------------------------------------------------------------------ Contact: American International Petroleum Corp., New York Michael Dodge, 212/688-3333 www.aipcorp.com