To: PartyTime who wrote (424 ) 4/20/1999 2:34:00 PM From: Steve Respond to of 945
(4/20/99)TRINITY ENERGY RESOURCES, INC. ANNOUNCES NEW NAME, PROPOSED OPENING OF INTERNATIONAL OFFICE LOCATION HOUSTON, TX -- Michael L. Wallace, president of Trinity Energy Resources, Inc., formerly Trinity Gas Corporation, announces a 99% favorable shareholder response to three changes in the company's articles of incorporation. At the same time, Wallace announced the scheduled opening of the company's first international office location in the Republic of Chad. As a result of a recent shareholders' meeting and proxy vote, more than 80% of the company's 64-million shares voted or returned proxies to authorize: * Changing the company's name from Trinity Gas Corporation to Trinity Energy Resources, Inc.; * Increasing the capital structure of the company to authorize the issuance of 300-million shares of common stock and 50-million shares of newly created preferred stock; and * Providing for the indemnification of the directors and officers of the company. Wallace expressed his appreciation, and that of chief executive officer, Thomas C. O'Dell, for the overwhelming show of support and affirmation by shareholders. In other news, Wallace said that the company has scheduled the opening of its first international office location in N'djamena, Republic of Chad, sometime in June. He said talks with Chadian energy officials are continuing in anticipation of implementation of exploration operations there this summer. Earlier, Trinity Energy Resources, Inc., one of a consortium of three independent energy companies including Carlton Energy Group, LLC, and Oriental Energy Resources, Limited, signed a convention agreement with the Ministry of Mines, Energy and Petroleum of the Republic of Chad. The agreement provides for the granting of an Exploration Permit 'H' covering approximately 108 million acres, or an area roughly equivalent to the combined size of the U.S. states of Kansas and Oklahoma. Under the terms of the agreement, the consortium will explore for oil and gas over a total period of 11 years, with an initial five-year exploration period and two subsequent periods of three-years each. The consortium expects to spend approximately $59 million on exploration activities during that period. "This is an exciting step forward for our company and our shareholders," said Wallace. "We look forward to a long, mutually profitable partnership with the people of Chad and the Chadian government, and see the opening of our office in Chad as an integral part of implementating of our strategic business plan." Visit our website at www.trinityenergy.com.