UTICA, N.Y., Dec. 27, 2000 (BUSINESS WIRE) —Life Energy & Technology Holdings Inc. is involved in negotiations in Algeria to supply technologies it manufactures for the generation of electricity, desalinization and purification of water and enhanced oil recovery.
In addition, technology will be supplied for the construction of petrochemical facilities for the extraction and refining of oil, and the manufacture of hydrocarbon based chemicals, similar to facilities built elsewhere under Dr. McCormack's supervision.
Life Energy & Technology Holdings Inc. expects to expend USD$150 million from its USD$450 million lines of credit to facilitate its activities in oil and gas exploration and exploitation in Algeria. No agreement has been signed as of this date.
Life Energy & Technology Holdings Inc. officially changed its name from Health-Pak Inc. on December 19th 2000. It is trading under the new stock symbol "LETH".
