PAN AMERICAN ENERGY CORP. EXCHANGES SHARES WITH QUESTEX GROUP LTD.
BAKERSFIELD, Calif., Nov. 8 /PRNewswire/ -- Pan American Energy Corp. (OTC: PAEC), a 28-year-old diversified oil and gas production company, today announced that it has entered into an agreement with the Questex Group Ltd. (OTC: QXGR) to exchange 900,000 restricted shares of its common stock for 300,000 restricted shares of The Questex Group Ltd. common stock. The exchange rate was based upon three Pan American Energy Corp. restricted common for one Questex Group Ltd. restricted common. The Questex Group Ltd.'s closing price on Friday, Nov. 5, 1993, was 3 3/8-3 7/8. The Questex Group Ltd., based in Scottsdale, Ariz., has four subsidiaries: Tactile Signage Inc., which manufactures and markets signage that comply with the Americans with Disabilities Act; Safko International Inc., which develops, manufactures and markets computer systems and software programs to the disabled population, and is the industry leader of assistive technology for vocational rehabilitation and computer-based environmental control systems for use by the disabled population; Skear Corp., which is developing a telecommunication concept for use in "niche" markets which are vacation and leisure oriented; and Green River Coal Inc., which has proven low sulfur coal reserves which have substantial value. The company currently trades over the counter on the Electronic Bulletin Board under the stock symbol QXGR, and has recently filed an application for the inclusion of its common stock on the National Association of Securities Dealers Automated Quotation System ("NASDAQ"). Pan American Energy Corp., headquartered in Bakersfield, owns several oil and gas properties, a diverse equity securities portfolio and real estate properties. The corporation's immediate goals include obtaining a listing on a national stock exchange, enhancing greater shareholder value through strategic acquisitions and obtaining additional equity securities in other growth-oriented public corporations. -0- 11/8/93 /CONTACT: Wayne E. Crumpley, president of Pan American Energy, 800-827-2343 or 805-872-2300; or Richard Wensel, president of The Questex Group, 800-858-6071 or 602-991-3738/ (PAEC QXGR)
CO: Pan American Energy Corp.; Questex Group Ltd. ST: California, Arizona IN: OIL SU:
JL-MF -- LA014 -- 1606 11/08/93 09:03 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 8, 1993|
|Previous Article:||OPERATION FREEDOM BIRD FLIES VETERANS TO WASHINGTON, D.C., TO DEDICATE VIETNAM WOMEN'S MEMORIAL|
|Next Article:||GAZ METROPOLITAN TO BUY NOVA'S 50 PERCENT SHARE OF TQM PIPELINE|