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Adair International Oil and Gas Inc. Makes Announcement.


HOUSTON--(BUSINESS WIRE)--April 30, 1998--Adair International Oil and Gas Inc. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
:AIGI AIGI Assistant Inspector General for Investigations (US government)
AIGI Adair International Oil and Gas, Inc.
) announces the acquisition of the Las Nieves Las Nieves (Spanish for the Snows, and sometimes taken from María de las Nieves or Nuestra Señora de las Nieves referring to Mary, mother of Jesus) may mean:
  • Las Nieves, Galicia (As Neves in Galician) in Spain
 Association Contract in the country of Colombia. The acquisition of the Las Nieves Association Contract resulted from extended negotiations with Llanos llanos (yä`nōs), Spanish American term for prairies, specifically those of the Orinoco River basin of N South America, in Venezuela and E Colombia.  Oil Exploration Ltd. who will be joint operator with Adair and participate in the continuing exploration and development. Las Nieves covers an area of approximately 128,000 acres. When fully developed, 40 million cubic feet per day of natural gas (MMCFD) is expected to be produced and 1,800 bbls of oil are expected to be produced.

Chairman John W. Adair states, "This acquisition is another step toward our goal of becoming a major producer in Colombia's lower Magdalena Valley and enhances our Chimichagua Association contract along with our recently announced Maracas Association contract venture."

This news release contains forward-looking statements within the meaning of Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
 Reform Act that involves risks and uncertainties, including exploration, development, operational, marketing, and implementation risks, and other facts described from time to time in the company's public available SEC reports which could cause results to differ materially.

CONTACT: Adair International Oil and Gas Inc.

John W. Adair, 713/621-8241
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 30, 1998
Words:197
Previous Article:Cambior Reports Improved Financial and Operating Performance for the First Quarter 1998 (Part 1 of 2 - Financial Tables to Follows).
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