EX-99
2
americaninternation.htm
PRESS RELEASE DATED JANUARY 6, 2005
American International Petroleum Corporation and American International Refinery, Inc. Announce Completion of Sale of Lake Charles Refinery
HOUSTON, TX -- 01/06/2005 -- American International Petroleum Corporation
("AIPC") (OTC: AIPN) and American International Refinery, Inc. ("AIRI"), a
wholly owned subsidiary of AIPC, announced today that on December 31, 2004,
AIRI consummated the sale of its Lake Charles Refinery and all associated
real and personal property to Pelican Refining Company L.L.C. for $9
million in cash. Pelican Refining Company L.L.C. is owned by NuCoastal
Refining and Marketing Company and BayOil (USA) Limited. The sale was
conducted pursuant to an auction process under the supervision of the
United States Bankruptcy Court for the Western District of Louisiana, Lake
Charles Division. On December 9, 2004, the Bankruptcy Court approved the
sale, subject to certain closing terms and conditions, including closing of
the sale by the end of 2004. AIRI used the proceeds from the sale
transaction to pay certain Bankruptcy Court approved obligations, including
payment of its bankruptcy expenses, real property taxes, environmental
fees, and payment of approximately $4.6 million to its secured lender,
Halifax Fund LP, pursuant to a settlement agreement among AIRI, AIPC and
Halifax approved by the Bankruptcy Court. This sale and settlement fully
satisfies all obligations of AIRI and AIPC to Halifax. Neither AIPC nor
AIRI expect proceeds from the sale to be available for distribution to
their common stockholders.
American International Petroleum Corporation is a petroleum company that,
through certain subsidiaries, is involved in oil and gas exploration and
development in Kazakhstan.
All statements, other than statements of historical fact, including
statements regarding AIPC's current expectations regarding the use of
proceeds from the sale transaction, included in this press release, are
forward-looking statements, including, but not limited to, statements
identified by the words, "expect", "will" and similar expressions and
statements regarding our legal position, plans and objectives. These
statements reflect our current views with respect to future events, based
on what we believe are reasonable assumptions. Certain factors could cause
actual results to differ materially from results anticipated in the
forward-looking statements. These factors include, but are not limited to,
AIPC's bankruptcy proceeding.
Contact:
Michael Dodge
Corporate Communications
732.741.5749

EX - 99 2 americaninternation . htm PRESS RELEASE DATED JANUARY 6 , 2005 American International Petroleum Corporation and American International Refinery , Inc . Announce Completion of Sale of Lake Charles Refinery HOUSTON , TX -- 01 / 06 / 2005 -- American International Petroleum Corporation ( " AIPC " ) ( OTC : AIPN ) and American International Refinery , Inc . ( " AIRI " ) , a wholly owned subsidiary of AIPC , announced today that on December 31 , 2004 , AIRI consummated the sale of its Lake Charles Refinery and all associated real and personal property to Pelican Refining Company L . L . C . for $ 9 million in cash . Pelican Refining Company L . L . C . is owned by NuCoastal Refining and Marketing Company and BayOil ( USA ) Limited . The sale was conducted pursuant to an auction process under the supervision of the United States Bankruptcy Court for the Western District of Louisiana , Lake Charles Division . On December 9 , 2004 , the Bankruptcy Court approved the sale , subject to certain closing terms and conditions , including closing of the sale by the end of 2004 . AIRI used the proceeds from the sale transaction to pay certain Bankruptcy Court approved obligations , including payment of its bankruptcy expenses , real property taxes , environmental fees , and payment of approximately $ 4.6 million to its secured lender , Halifax Fund LP , pursuant to a settlement agreement among AIRI , AIPC and Halifax approved by the Bankruptcy Court . This sale and settlement fully satisfies all obligations of AIRI and AIPC to Halifax . Neither AIPC nor AIRI expect proceeds from the sale to be available for distribution to their common stockholders . American International Petroleum Corporation is a petroleum company that , through certain subsidiaries , is involved in oil and gas exploration and development in Kazakhstan . All statements , other than statements of historical fact , including statements regarding AIPC 's current expectations regarding the use of proceeds from the sale transaction , included in this press release , are forward - looking statements , including , but not limited to , statements identified by the words , " expect " , " will " and similar expressions and statements regarding our legal position , plans and objectives . These statements reflect our current views with respect to future events , based on what we believe are reasonable assumptions . Certain factors could cause actual results to differ materially from results anticipated in the forward - looking statements . These factors include , but are not limited to , AIPC 's bankruptcy proceeding . Contact : Michael Dodge Corporate Communications 732 . 741 . 5749
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