Bedford Holdings Negotiating Deal for Majority Ownership of Russian Oil Field.NEW YORK--(BUSINESS WIRE)--Sept. 3, 1997--Bedford Holdings Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : BFHI BFHI Baby Friendly Hospital Initiative (WHO/UNICEF Ten Steps to Successful Breastfeeding) ) announced today that it is completing negotiations to acquire 60.57% of AKI-ODIYR Oil Co. which is currently owned by VENCO, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located in Russia. Bedford Holdings Inc. has contracted with an independent geological company located in the United States to conduct numerous geological tests to further validate the value of the extensive property holdings of AKI-ODIYR. Bedford Holdings is expecting to receive the study results next month. Leon Zapoll, president, commented, "Early surveys of the oil reserves on the property for which we are negotiating had preliminary estimates of 300 million barrels of crude oil. We will have more accurate estimates once the geological tests are complete." Bedford Holdings Inc., through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Allen & Pierce Securities, is a broker/dealer firm operating in the United States. The company also has representatives operating in Russia which provide a broad range of financial and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to diverse clients in Russia and eastern Europe. The statements in this press release are not historical facts. They are forward-looking statements based upon current expectations. Bedford Holdings may make certain forward-looking statements that relate to future business and financial performance. Such statements can only be predictions and the actual events or future results may differ from those discussed, due, among other things, to those risks described in the company's reports. The company assumes no obligation to update the information in this release. CONTACT: Dian Griesel 212/664-8489 |
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