Some old news, however very significant information:
TV Communications Network, Inc. Makes Announcement
DENVER (Sept. 22) BUSINESS WIRE -Sept. 22, 1998--TV Communications
Network, Inc. ("TVCN") announced during its annual shareholders meeting
today, its intention, and the intention of its directors and officers,
to purchase up to $2.0 million worth of shares of its publicly traded
common stock, and to encourage its employees to do the same.
The purchases of TVCN stock, if any, are anticipated to take place over
a period of up to two years. However, it should not be construed that
the foregoing stock purchases will be eminent. In fact, if the price of
TVCN's stock becomes more reflective of TVCN's progress and growth
potential, TVCN and its management may not proceed with the stock
purchases, or may terminate the process prior to completion.
Previously, TVCN announced the signing of a Memorandum of Understanding
("MOU") with the government of Trinidad and Tobago in Latin America,
for the construction and operation of a Gas-to-Liquids ("GTL")
processing plant in Trinidad. The capital cost of the proposed plant is
estimated at $275-300 million.
Omar Duwaik, President and CEO said, "We are still negotiating a final
agreement with the government, and are discussing various financing
options with financial institutions and private investors." Duwaik
continued, "Depending on the time of completion, the proposed plant
could be the world's first commercial GTL plant to convert natural gas
into 10,000 barrels per day ("Bbl/d") of sulfur-free and aromatics-free
diesel, jet fuel, and other finished petroleum products. It is expected
to employ TVCN's own under-development proprietary GTL process, and is
projected, if successful, to generate an estimated revenue of $116
million per year."
"Recent advances in converting natural gas into clean, environmentally
friendly oil products could trigger revolutionary changes in the world
energy industry," reported Reuters on 6-28-98. Arthur D. Little, a
global consulting firm, was more emphatic, "GTL will revolutionize the
gas industry...."
The major cause of pollution in most cities around the world is the
content of sulfur, aromatics and other contaminants or impurities in
the products generated from crude oil. Ken Roznoy, VP-Business
Development, said, "The recent announcement in California regarding the
danger of diesel produced from crude oil underscores the significance
of the GTL technology." On 8-27-98, UPI reported that "California has
become the first state to declare that soot emitted in diesel exhaust
is a cancer threat that requires new controls." On 8-28-98, the Rocky
Mountain News reported eleven members of the California Air Resources
Board ("ARB") "voted unanimously to declare 40 chemicals found in
(crude oil-derived) diesel exhaust as toxic air pollutants." It was
further reported in the British Press that diesel pollution was the
major cause of an estimated 10,000 deaths in Great Britain.
In contrast, the "diesel produced from TVCN's GTL process is very
clean, very pure and of high quality. It contains zero sulfur, zero
aromatics and no contaminants. In addition, it has a high cetane
number, high smoking point and burns cleanly," remarked Duwaik. The
National Petroleum News reported, "Refiners will kill for (fuel of this
kind) because it solves formidable clean air problems, crucial in the
United States and other environmentally sensitive countries. Use of the
no-sulfur feedstocks will save refiners billions of dollars in
investment they would have to make to reduce sulfur in motor fuels."
According to Scientific American, and other industry experts, there
will be an oil shortage of at least 39 million Bbl/day. Dennis Horner,
VP-Finance said, "The projected oil shortage of 39 million Bbl/d could
drive crude oil prices to the sky, and could disrupt world economies
and nations' progress and development, unless an alternative source of
energy at low cost is found." At present, GTL seems to be the most
credible solution. To prevent the oil-shortage forecast, it would take
some 4000 GTL plants of the size proposed by TVCN. "However, if only
2000 GTL plants are constructed, these plants would produce some 20
million Bbl/d, and generate a $232 billion/year industry," continued
Horner.
TVCN is a publicly traded company on the OTC Bulletin Board under the
symbol TVCN. Roznoy said that "TVCN intends to apply for NASDAQ listing
when and if it meets listing requirements." TVCN is a diversified
company involved in such industries as WCTV services, Internet
services, wireless communications, mining and mineral operations, and
the gas and oil industry.
This document is intended for informational purposes only and is
neither a solicitation for an offer to buy nor an offer to sell
securities. An offer to sell securities by TVCN may only be made
through the delivery of a prospectus or a private placement memorandum
to qualified, suitable investors. For investment opportunities about
TVCN, call your licensed stock-broker. The document contains
forward-looking statements and information which normally are
identified by or are associated with such words as "intend", "believe",
"estimate", "projection", "potential", "expect", "should", "might",
"could", and other similar expressions. They reflect management's
beliefs and estimates of future economic circumstances and industry
conditions. Investing in low-priced stock such as that of TVCN is very
risky and is not suitable for everyone. Do not buy TVCN stock unless
you can afford losing your entire investment. The Company's
performance, business plans, projects and financial results are not
guarantees of future performance or that any of the projections or
expectations could or will ever be met. In particular, neither TVCN nor
any other company has a GTL plant commercially operating anywhere in
the world as proposed herein. The results, statements, projections,
etc. made herein are based largely on limited laboratory testing,
engineering studies, press reports and many assumptions and factors
impossible to predict, and no assurance can be given whatsoever that
commercial GTL plants can or will ever achieve any of the results
described herein.
-0- MG/dx*
CONTACT: TV Communications Network, Inc.
Kenneth D. Roznoy
303-751-2900
KEYWORD: COLORADO
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