Trend Technology and Americas Energy Company Sell Production of First Oil Well
* Reuters is not responsible for the content in this press release.
KNOXVILLE, TN, Oct 29 (MARKET WIRE) --
Trend Technology Corporation (OTCBB: TRET) and Americas Energy Company
(AECo) announced today that AEC has sold the initial production from its
first oil well. AECo is in the process of being acquired by TRET. The
well is located in Cumberland County, Kentucky on AECo's 1,700+ acre
lease. After a detailed evaluation the well was placed on a timed pumping
program to extend the production life of the well and is currently
producing 15-20 barrels per day.
"The sale of the production from our first oil well to Somerset Energy
Refining in Somerset, Kentucky has set the stage for our oil division. We
have entrusted the development of that division to Mr. Jimmy A. Dunn Jr.,
as our Vice President of Oil and Gas," said Chris Headrick, President and
Co-CEO of Americas Energy Company. Mr. Headrick added, "Based on the
success of the first well, Mr. Dunn and AECo have established an
aggressive development plan to initiate production on our oil and natural
gas leases. We plan to rapidly exploit our development rights to the
1,700+ acres surrounding this well, and develop as many as 95 additional
oil wells over the next 24 to 36 months."
About Americas Energy Company
We are a consolidator of high quality energy properties, operating out of
our main offices in Knoxville, TN. We currently operate projects in both
Kentucky and Tennessee. AECo invests in energy projects throughout the
Americas. We are currently evaluating several additional coal projects, as
well as an oil and gas rework project in Southeastern Kentucky.
Safe Harbor statement under the Private Securities Litigation Reform Act
of 1995: The statements in this release relating to completion of the
acquisition and the positive direction are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Some or all of the results anticipated by these forward-looking
statements may not occur. Factors that could cause or contribute to such
differences include, but are not limited to, contractual difficulties
which may arise, the failure to obtain necessary approvals, the failure
to complete the business combination, the future market price of Trend
Technology Corporation common stock and the ability to obtain the
necessary financing.
Company Headquarters
Contact:
Christopher Headrick
249 N. Peters Rd.
Suite 300
Knoxville, TN 37923
Phone: (865) 238-0668 x 105
Web Site: www.americasenergycompany.com
Email: Email Contact
Somerset Energy Refining
600 Monticello Street
Somerset, KY 42501
Phone: (606) 679-6301
Toll Free: (800) 489-6301
Fax: (606)677-2170
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