David Guthrie, President and CEO of Consolidated Energy,
Inc. (OTCBB:CEIW) ("The Company"), announced today that the Company,
through its wholly owned subsidiary Morgan Mining Inc., purchased
leases, permits, options for additional permits and leases, and
equipment to commence surfacing mining under Permit No. 888-0083,
which is located in Morgan County, Kentucky. The purchase was made for
cash plus an overriding royalty to be paid on coal mined and sold. The
overall properties contain in excess of one million tons of low sulfur
mineable coal. Equipment, valued at approximately two million dollars
has been delivered to the property. Operations and production are
scheduled to begin by May 1, 2005. Management expects to produce as
much as 15,000 tons of coal per month by the second quarter of 2005.
For additional information please contact Dave Guthrie, dguthrie@ceiw.net, President - Consolidated Energy, Inc. or call 317-287-0419.
Any statements contained in this release that are not historical facts may be considered "forward-looking statements." Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements. Consolidated Energy does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. Specifically, the implementation of mining production on the newly acquired properties may be subject to unforeseen delays, which may affect the above production timing schedule and estimated production amounts.
For additional information please contact Dave Guthrie, dguthrie@ceiw.net, President - Consolidated Energy, Inc. or call 317-287-0419.
Any statements contained in this release that are not historical facts may be considered "forward-looking statements." Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements. Consolidated Energy does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. Specifically, the implementation of mining production on the newly acquired properties may be subject to unforeseen delays, which may affect the above production timing schedule and estimated production amounts.
© 2005 Business Wire
