Fountain Oil signs pact with Prudential Securities Inc.HOUSTON--(BUSINESS WIRE)--Sept. 7, 1995--Fountain Oil Inc. (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 NMS See NetWare Management System. : GUSH) is pleased to announce that Prudential Prudential is the name of two different companies and buildings named after them: Companies:
Fountain Oil is in the process of completing a number of large transactions which involve the acquisition of interests in proven reserves of oil and gas totalling in excess of 70 million barrels of oil equivalent attributable to Fountain Oil. Fountain expects its program of acquiring substantial proven oil and gas reserves to continue for the foreseeable fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. future. Prudential Securities will be advising Fountain Oil with regard to the financing of the development of these reserves. Fountain Oil 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 paraffinic oil and heavy oil. CONTACT: Liviakis Financial Communications Inc. John M. Liviakis, 916/448-6084 or Fountain Oil Inc. Eugene J. Meyers, 310/305-8640 or Nils N. Trulsvik, (47) 66 90 31 44 (Europe) or Burson-Marsteller Morten Rynning, (47) 22 50 45 50 |
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