OTC: WTCH) Purchase Could Generate $1 Billion in Added Reserves
Wednesday, June 28, 2006 07:30 ET
LAKE HARMONY, PA -- (MARKET WIRE) -- 06/28/06 -- Wastech, Inc. (PINKSHEETS: WTCH) (the "Company"), today is pleased to announce that on April 14, 2006 it successfully closed on its recently announced purchase of approximately 44,000 acres of subsurface coal, coal bed methane and all other mineral rights under enriched acreage throughout various counties in West Virginia, as well as exactly 5,898.49 acres of oil and gas reserves in Fayette County, West Virginia.
In West Virginia it is estimated that 99% of the generated electricity comes from coal, utilizing within the state approximately 14 coal-fired electric generating facilities, amounting to $3.5 billion in gross state product generated as a result of coal. At current market conditions, state estimates would equate the acquired mineral reserves in excess of $1 billion to the Company's subsidiary.
To read the complete release, go to http://www.CybeRelease.com/wtch62806.htm
Other active stocks are PETCO Animal Supplies, Inc. (NASDAQ: PETC), Viisage Technology, Inc. (NASDAQ: VISG) and CT Communications, Inc. (NASDAQ: CTCI).
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A Third Party has hired and paid $500.00 for the publication and circulation of this report. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation and do no trading of any kind.