Adair Oil & Gas Positioned for Expansion in Energy Markets.HOUSTON--(BUSINESS WIRE)--May 13, 1998-- Houston-based Company Plans $3 Million Offering Uses Proven Success Formula Domestically and Internationally Adair International Oil & Gas, Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AIGI AIGI Assistant Inspector General for Investigations (US government) AIGI Adair International Oil and Gas, Inc. ) a Houston-based company with interests in oil, gas and energy projects in the U.S., Colombia, Paraguay and Yemen, announced today that management is working with its Miami-based investment banking firm, Select Capital Advisors, as part of the company's long term corporate capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. plan. Select will work with Adair to arrange and negotiate the terms of a $3 million in a public offering. It is presently anticipated that the offering will be made at a minimum of $.75 per share, which is below the inherent value of Adair's assets. Select will also provide long and short term financing and strategic analysis services. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ronald G. Williams, chairman of Select Capital, "Adair International is an excellent company which meets all of the requirements for both short and long term profitability. The Company is managed by a world class group of professionals with decades of high level experience in the oil and gas business. Their team of bankers, geologists, engineers, and international businessmen This article has multiple issues: * It does not cite any references or sources. Please help improve this article by citing reliable sources. * Its notability is in question. has built and developed a portfolio of projects which provides the right combination of operations ranging from stable, cash producing wells, to proven reserves in more speculative, extremely high yield international concessions. This structure works like a mutual fund to ensure short term strength by providing the cash flow needed for development on higher return, long-term growth projects. The company's portfolio of projects shows a healthy distribution with the majority in safe, producing reserves, and the balance in projects with enormous profit potential." John W. Adair, Adair's Chairman stated, "After extensive exploration and production analysis and over $20 million scheduled to be invested, Adair is currently well positioned for expansion on multi-level projects. Domestically, we are prepared to increase revenues from their current level of approximately $250,000 per year, which is the pre-aquisition revenue, to projected levels of approximately $500,000-$700,000 per month by November 1998. Development on our oil & gas interests in Colombia and Paraguay are progressing towards fruition fru·i·tion n. 1. Realization of something desired or worked for; accomplishment: labor finally coming to fruition. 2. Enjoyment derived from use or possession. 3. , and relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the frontier exploration projects in these areas, we have made significant advancements in exploration technology that will greatly increase the company's profitability. Our strategy of taking advantage of opportunities in smaller and mid-size projects under $100 million which are not attractive to the large multinational oil companies is beginning to pay off. We are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about becoming one of the world's leading independent energy companies." Adair International Oil & Gas, Inc., formerly known as Roberts Oil & Gas, was established in 1981 with the Adair acquisition/merger having been completed in mid-1997. The company currently has operating wells in Texas, Oklahoma, and Louisiana. Internationally, Adair has development, exploration and operational projects and joint ventures in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Yemen. Adair's international projects include ownership and working rights in some of the world's potentially largest gas reserves, as well as development agreements with multi-national corporations in large power plant projects. From time to time, the company may issue forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ and a forward-looking statement should be considered accordingly. For further information, contact Lynne Sifford of Select Corporate Information at 305-856-5668. CONTACT: Select Corporate Information Lynne Sifford, 305/856-5668 |
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