COSCO Negotiating Large Scale, Long Term Contracts; Reports Separate $1.365 Million In Component Sales Revenues.EDMONTON, Alberta -- Mr. Andrew Male, Vice President & Director of COSCO COSCO China Ocean Shipping Company COSCO Colorado Scientific Company (Denver) ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. Inc. (Pink Sheets:CCPI CCPI Chernobyl Children's Project International CCPI Convention Communication Provisioners, Inc. CCPI Consultative Committee on Public Information (UN) CCPI Cumulative Cost Performance Index ), the "Company", is pleased to announce that recent high level product provision discussions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a long term Middle East contract to provide the Company's Electric Submersible Pumps (ESP's) and associated control equipment has progressed to the final stages. The contract, if concluded prior to year end, will allow the Company to book one of its most substantial forward contracts negotiated to date. The Company is also pleased to report sales revenue of $1,365,000 through the quarter ending September 30th that is allocated specifically to ESP accessory equipment. This, in addition to other operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. and the aforementioned Middle East contract -- if culminated before year end -- will place the value of sales contracts previously executed and sales contracts pending, in excess of $4,500,000. Management is also pleased to announce an increase in the number of short and long term contracts that the Company is qualified for, and has been invited to bid on. It is expected that open Bid-Book contracts not yet assigned will exceed $10,000,000 early in the first quarter of the new year. COSCO ESP Inc. is an established manufacturer and service provider of down-hole Electric Submersible Pump related equipment in the oil and gas industry. The Company's advanced technology oilfield pumping and monitoring equipment allows for more efficient extraction of oil from new and existing underground oil reservoirs. COSCO is active in several countries in the Middle East as well as Africa, Russia, China and Southeast Asia. No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined within 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. " provision as contained in 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. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. |
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