  | |  |  | |
 | | 
| Back
Contact: Michael L. Staines
Sr. Vice President
Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5005, (215) 546-5388 (facsimile)
Resource America, Inc. Announces Record Sales By Atlas America, Inc.
Philadelphia, PA, 1/14/1999 - Resource America, Inc. (NASDAQ: REXI) (the "Company")
announced today that Atlas America, Inc. ("Atlas"), its wholly owned subsidiary engaged in the
energy finance industry, has closed its 1998 natural gas development drilling investment offerings
with record total subscriptions of more than $28 million for the calendar year. As a result, Atlas will drill, operate, and have an interest in some 125 additional natural gas development wells principally in Pennsylvania. In addition, Atlas will provide transportation and marketing services for all of the natural gas production over the life of these wells.
Atlas America, Inc. has been a leading participant in the energy finance industry for more than 26
years, providing drilling, operating and supervisory services for more than $380 million of independent investment now under Atlas' management.
Atlas manages more than 85 partnerships and joint ventures, operates and holds interests in more
than 2,500 wells with proved, developed and producing reserves of more than 53 billion cubic feet of
natural gas equivalent to the Company's interest, owns and/or operates more than 1,300 miles of
natural gas gathering pipeline and holds mineral rights underlying more than 406,000 acres of land.
In 1999, Atlas intends to expand its activity in the energy finance industry through further offerings of energy programs and other newly developed investment products.
Resource America, Inc, operates a diversified financial services company engaged in equipment
leasing, energy and energy finance, and real estate finance.
Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of certain factors, including
competition within the energy finance industry, climactic conditions and the price of oil and gas in the Appalachian area, actual versus projected volumetric production from the Company's energy investments, and the cost of supplies and services in the energy industry.
|
|
|
