Digital Gas, Inc.(fka DIGGQ)

[Buckey]

2000-12-29 15:49 ET - News Release



Digital Gas Signs a 10 Year Contract to Increase Dong Sheng's Oil & Gas
Production

NEW YORK, Dec 29, 2000 /PRNewswire via COMTEX/ -- Digital Gas, Inc. (DIGG - Pink
Sheets) today announced that it has signed a 10-year renewable contract to
increase the oil & gas production of Dong Sheng Corporation of Shandong
Province, Peoples Republic of China both in China and internationally. The
contract is legal effective immediately.

The application of technologies, methodologies and training to increase
production will be for all present and future properties of Dong Sheng for the
term of the contract. Production increase metering will be at the well head and
calculated according to the value per barrel in the international marketplace.

To enhance contact and cooperation between Dong Sheng and Digital Gas, Qingdao
Haiqing Corporation of the Science and Technology Administration of the Qingdao
City Government shall provide necessary coordination for the life of the
contract.

The scope of the Dong Sheng contract has far surpassed the expectations of
Digital Gas. As a result, the company will place the contract into a separate
company to be named Digital Gas China International, which will be owned by the
current shareholders of the company as of a date to be specified after Digital
Gas has consulted with its investment advisor.

To further the international side of their business, Dong Sheng and Digital Gas
are currently engaged in negotiations for contracts in foreign countries
interested in the technologies, methodologies and training that will be employed
in China.

After consulting with its investment advisor, additional information regarding
this contract and Digital Gas China International will be more fully described.


For further information, contact Leo Murray at [phone].

SOURCE Digital Gas, Inc.


CONTACT: Leo Murray, 212-856-4496, for Digital Gas, Inc.
(DIGG)

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(C) 2000 PR Newswire. All rights reserved.

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KEYWORD: New York
China
INDUSTRY KEYWORD: OIL
SUBJECT CODE: CON