AMOIL UPDATES RECENT PROPERTY PURCHASES.RED DEER Red Deer, city, Canada Red Deer, city (1991 pop. 58,134), S central Alta., Canada, on the Red Deer River. It developed as a trade and service center for a region of dairying and mixed farming. , Alberta--(BUSINESS WIRE)--Feb. 27, 1995--AMOIL PETROLEUMS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : API ) Red Deer based Amoil Petroleums Inc. announces that property purchases scheduled to close in March 1995 will increase the company's proven oil and gas reserves in Central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. from 169,000 bbls to 364,000 bbls of oil and 1.5 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter of gas, since shareholders approval of the company's major transaction on December 9, 1994. The company's present production is 250 bbls/day and is expected to exceed 450 bbls/day following the ongoing workovers on the new properties. Amoil Petroleums Inc. plans to continue proving oil reserves and adding production in Central Alberta by recompleting suspended wells with multi zone potential, which management feels represents less risk than drilling for new production or purchasing producing properties at several years cash flow. The Alberta Stock exchange has neither approved nor disapproved the information contained herein. CONTACT: Kevin Baumann, President, 403/341-4272 |
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