AmeriResource Technologies, Inc. Purchases West Texas Real Estate & Resources, Inc.Business Editors LAS VEGAS--(BUSINESS WIRE)--July 17, 2000 Delmar A. Janovec, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AmeriResource Technologies, Inc. (ARET A`ret´ v. t. 1. To reckon; to ascribe; to impute. ) announced today that ARET has successfully completed the acquisition of West Texas Real Estate & Resources, Inc. a real estate and mineral resource company. West Texas Real Estate & Resources, Inc. has certified gas and oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally valued in excess of $10,000,000.00 Mr. Janovec further stated," The acquisition of West Texas Real Estate & Resources, Inc. allows ARET to add assets, thus creating value for the shareholders. This new subsidiary will allow ARET to enter into an industry that is seeing the highest prices for oil and gas in the last twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. . ARET will also have the opportunity through its new subsidiary to seek other mineral resource companies that could be added to the Company's portfolio creating additional value for the shareholders." Statements in this press release, include forward-looking statements that include risk and uncertainties. The forward-looking statements in this press release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially due to a variety of factors, products and/or services and other risks detailed from time to time in the Company's ability to produce and market certain products and/or services and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. |
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