Daleco Resources Announces Initial Results from its Austin Chalk Development Program.WAYNE, Pa.--(BUSINESS WIRE)--Nov. 11, 1997--Dov Amir, chairman of the board and chief executive officer of Daleco Resources Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DLOV), reported Tuesday that the initial results from the fracture fracture, breaking of a bone. A simple fracture is one in which there is no contact of the broken bone with the outer air, i.e., the overlying tissues are intact. In a comminuted fracture the bone is splintered. stimulation portion of the Upper Texas Gulf Austin Chalk development program, initiated by Daleco's 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. Westland Resources Corp., are very encouraging. As a result of the stimulations performed during September, the month-to-month production comparisons of October and September volumes indicate that oil production has increased by 100% and gas production by 37%. Amir also added that the company has commenced the drilling operations on the first of 22 planned lateral wells to be drilled as part of its Austin Chalk development program on its 7,300 acre lease block in the Upper Texas Gulf areas. As previously announced, the company's development program is being funded under the $15 million facility provided by Heller Financial Inc. of Chicago. Daleco Resources is an international natural resource company with holdings in oil and gas, timber and precious minerals. 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. for 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. : Except for historical information contained herein, the statements of this press release are forward-looking statements that are made pursuant in the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , imprecision im·pre·cise adj. Not precise. im  pre·cise ly adv. in
estimating product reserve and the company's ability to replace and
expand its holdings.
CONTACT: Daleco Resources Dov Amir, 310/282-9999 Gary J. Novinskie, 610/254-4199 |
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