Fountain Oil Inc. to be listed on NASDAQ National Market.HOUSTON--(BUSIHESS WIRE)--April 5, 1995--Fountain Oil Incorporated (GUSH) announced today that its common stock will begin to trade on the 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 National Market System ("NMS See NetWare Management System. ") on Thursday, April 6, 1995. The stock currently trades on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Electronic Bulletin Board. The trading symbol Trading symbol See: Ticker symbol will remain "GUSH". "The listing of our common stock on the NMS will give Fountain Oil greater visibility and prominence in the financial community," stated Gene Meyers, the company's chairman. He went on to say, "With our greatly enhanced cash position and relatively debt-free balance sheet, Fountain Oil is posed to expand its presence in the international oil and gas industry and to extend the applications of its patented technology." Trading data on the NMS is widely distributed Adj. 1. widely distributed - growing or occurring in many parts of the world; "a cosmopolitan herb"; "cosmopolitan in distribution" cosmopolitan bionomics, environmental science, ecology - the branch of biology concerned with the relations between organisms by wire services for dissemination by newspapers and other media. Fountain Oil's entry onto the NMS also qualifies the company's securities for various exemptions and other advantages with respect to state blue-sky legislation and the Federal Reserve margin rules. Fountain Oil Incorporated is actively acquiring and developing a portfolio of oil and gas properties. The company has also developed and is marketing a patented, electrically enhanced oil recovery Enhanced Oil Recovery (EOR) is a generic term for techniques for increasing the amount of oil that can be extracted from an oil field. Using EOR, 30-60 %, or more, of the reservoir's original oil can be extracted [1] compared with 20-40% [2] technology used to increase the production of heavy oil. CONTACT: Fountain Oil Gene J. Meyers, Chairman, 310/305-8640 Liviakis Financial Communications Inc. John Liviakis, President, 916/448-6084 |
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