| January 15, 2001 5:008
PM EST Company Press Release NEW DIGITAL TECHNOLOGY TO ENHANCE SEARCH FOR OIL & GAS DEPOSITS DENVER,
Jan. 15 /PRNewswire/ -- Amalgamated Explorations, Inc. (OTC: AXPL)
announces that it has filed a Patent application for a new Digital
Electrotelluric® Technology that it has developed over the last 12
months.
Amalgamated also announces
that as a result of developing its own proprietary Digital Electrotelluric®Technology, it has rescinded the Settlement Agreement
for the purchase of the patents owned by John Jackson and Andre Arismendi,
Jr. which utilizes an analog method for electrotelluric® surveys. The
parties anticipate cooperation on future joint ventures as the need
arises.
The President of
Amalgamated, Mr. Christian F. Murer, has also announced that Amalgamated
Explorations has incorporated a subsidiary company called StrataData
Corporation to lead the future research and development for the new
Electrotelluric® Technology. Mr. Murer has stated, "With the
advent of our new digital Electrotelluric® Technology Patent (pending),
we are now in the forefront of developing the next generation of
Electrotelluric® exploration technology." The Company will also
consider licensing its new technology to industry partners worldwide.
Amalgamated Explorations,
Inc. is a Denver based oil & gas and mineral exploration company that
is currently listed on the OTC pink sheets. Amalgamated is in the process
of completing its September 30, 2000 audit financial report and plans to
file its SB10 form with the Securities and Exchange Commission to be
reinstated to the Nasdaq Bulletin Board. More information is available at
www.findoil.com
Forward-Looking Statements
This press release may
contain projections and other forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended.
Any such projections or statements reflect the Company's current views
with respect to future events and financial performance. No assurances can
be given, however, that these event will occur or that such projections
will be achieved and actual results could differ materially from those
projections. © 2001 PRNewswire |