SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.D. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of earliest event reported: May 18, 2000
TV COMMUNICATIONS NETWORK, INC.
(a Colorado Corporation)
I.R.S. Employer Identification Number 84-1062555
10020 E. Girard Avenue, #300
Denver, Colorado 80231
Telephone: (303) 751-2900
Investor relations contact:
Kenneth D. Roznoy, Vice President of Business Development
10020 E. Girard Avenue, #300
Denver, Colorado 80231
Telephone: (303) 751-2900
Item 1. Not Applicable
Item 2. Not Applicable
Item 3. Not Applicable
Item 4. Not Applicable
Item 5.
The Company announced today that it had received a $150 million funding
commitment for the Company's wholly-owned subsidiary, Reema International
Corp. Please see the Press Release attached as Exhibit A to this 8K Report
which is incorporated herein by reference.
Item 6. Not Applicable
Item 7. Not Applicable
Item 8. Not Applicable
Item 9. Not Applicable
SIGNATURES
Pursuant to the requirements of The Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TV COMMUNICATIONS NETWORK, INC.
Date: May 18, 2000
/ss/Omar A. Duwaik
Omar A. Duwaik
PRESIDENT/CEO
/ss/Kenneth D. Roznoy
Kenneth D. Roznoy
VICE PRESIDENT/BUSINESS DEVELOPMENT
EXHIBIT A
PRESS RELEASE
Denver, CO May 18, 2000, TV Communications Network, Inc. ("TVCN") announced
today that its wholly-owned subsidiary, Reema International Corp., entered
into an agreement with a private investor, the identity of which remained
confidential, to participate in the funding of Reema's Project in Trinidad,
Latin America.
Omar Duwaik, president of TVCN, and the Chairman of Reema, said, "The amount of
funding agreed upon is $150.0 million. This will set the stage for TVCN to
commence undertaking a series of actions towards the implementation of the
Project, which entails the construction and operation of a Gas-To-Liquids
("GTL") Plant. Depending upon time of completion, the proposed plant may be
the first commercial GTL plant of its kind
in the world."
According to TVCN's documents filed with the SEC, under an agreement signed
last year between Reema and the Government of Trinidad and Tobago, Reema will
construct, own and operate the GTL Plant in Trinidad, while the Government
will supply natural gas to the Plant over a period of at least 20 years. The
Plant is expected to convert natural gas to high quality finished petroleum
products such as sulfar-free and aromatics-free diesel, jet fuels, naphtha
and other conventional commodities. The capital cost of the Plant is
estimated at $300.0 million. Reema has been developing its proprietary GTL
technology since 1993.
Kenneth D. Roznoy, Vice President - Business Development, said, "The signing
of the $150.0 million financing agreement will allow TVCN to immediately
begin the process of finalizing and executing agreements with certain
potential strategic partners for the execution of the Project, some of which
agreements have been under negotiation for about two years."
TVCN is a publicly-traded company on the Electronic Bulletin Board under the
symbol "TVCN". In addition to the gas and oil business, TVCN is involved in
microwave communications. For more information contact Kenneth D. Roznoy at
303 7516100 or Fax 303 7511081.
