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CASPEN OIL ACQUIRES INTEREST IN BIOTECH ENVIRONMENTAL COMPANY

 CASPEN OIL ACQUIRES INTEREST IN BIOTECH ENVIRONMENTAL COMPANY
 LAKEWOOD, Colo., July 21 /PRNewswire/ -- Caspen Oil Inc. (AMEX: CNO) has acquired for 600,000 shares of its common stock interest in Reclamation Biotech Holding Corp. (RBHC) which owns Environmental Reclamation Systems (ERS).
 ERS is engaged in the bioremediation of petroleum contaminated soils and groundwater. The containment and clean-up of these contaminated sites utilizes a proprietary process. The process involves the application of living organisms (bacteria) to the contaminated site in an effective and cost-efficient manner.
 Caspen is an American Stock Exchange listed company engaged in oil and gas exploration, production, primarily in the Southwestern United States and in related environmental concerns. As of July 20, 1992, Caspen had outstanding 16,474,810 common shares and 392,306 $1.80 Series A Preferred Shares, owned by approximately 4,600 shareholders of record.
 -0- 7/21/92
 /CONTACT: Anthony J. Carroll of Caspen Oil, 303-987-0925/
 (CNO) CO: Caspen Oil Inc. ST: Colorado IN: OIL SU: TNM


DG-MM -- DV003 -- 1131 07/21/92 09:04 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
Words:172
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