Date: November 21, 2007
Source: News Room
Prometheus Energy has acquired the remaining 50% interest in Apollo Energy III LLC, owned by Montauk Energy Capital LLC, for $125,000 cash and about 1.28 million company shares. The payment also includes a one-year note issued by Apollo for $725,000. Apollo owns and operates a landfill gas to liquefied natural gas production facility currently being commissioned at the Frank R. Bowerman Landfill in Irvine, CA. Prometheus expects the purchase to improve the terms of the fuel supply agreement to the Bowerman plant in exchange for a reduction in the maximum potential quantities of gas available to Apollo.
For more information on Prometheus Energy Co., visit: www.prometheus-energy.com.
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