LEXINGTON, Ky., Nov. 19 /PRNewswire/ -- Daugherty Resources, Inc.
(Nasdaq: NGASF), announced today that Daugherty Petroleum, Inc.'s subsidiary,
Sentra Corporation, has been granted a Certificate of Public Convenience and
Necessity to construct a natural gas distribution system for Fountain Run,
Kentucky.
The system will supply natural gas at retail rates to customers within the
city limits of Fountain Run and to portions of Monroe County, Kentucky. "New
commercial development in this area of Kentucky makes this an attractive
investment for the Company," said William S. Daugherty, Chairman and CEO.
"This utility will expand the natural gas base that the Company has been
developing over the past several years."
The company will initially construct 57,500 feet of pipeline to serve the
community. Additional pipeline will be installed as the market increases in
the area. Gas sales are expected to commence by January 1, 1999.
Daugherty Resources, Inc. is a natural resources development company with
interests in oil and gas development, wood products manufacturing and gold
mining prospects.
The information in this release includes certain forward-looking
statements that are based on assumptions that in the future may prove not to
have been accurate. Those statements, and Daugherty Resources and its
subsidiaries are subject to a number of risks, including production variances
from expectations, volatility of product prices, the capital expenditures
required to fund its operations, environmental risks, competition, government
regulation, and the ability of the company to implement its business strategy.
These and other risks are described in the company's documents and reports
that are available from the company and the United States Securities and
Exchange Commission.
SOURCE Daugherty Resources, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/115373.html or fax,
800-758-5804, ext. 115373
CONTACT:
William S. Daugherty, President, Daugherty
Resources, Inc., 606-263-3948, or fax, 606-263-4228
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