APF Energy Inc. Takes-Up Shares of Bayridge Resources Limited.CALGARY, Alberta--(BUSINESS WIRE)--April 16, 1997-- APF APF, n the abbreviation for acidulated phosphate fluoride. Energy (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : AY.IR.) APF ENERGY MANAGEMENT INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. ., manager of APF Energy Inc. and APF Energy Trust, is pleased to announce that APF Energy Inc. has taken-up 100 percent of the shares of Bayridge Resources Limited pursuant to its take-over bid. The consideration to be paid for the Bayridge shares on closing will be $19.2 million and APF will be assuming approximately $3 million in Bayridge debt. The transaction is being financed by APF's existing credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities . Bayridge currently has daily production of 1,200 barrels of oil equivalent (Boe). An independent engineering evaluation, effective January 1, 1997, assigned reserves of 3,945 Mboe (proved plus one- half probable) to the Bayridge properties. Upon amalgamating Bayridge and APF, the cash flow from the Bayridge properties will be subjected to the royalty payable to APF Energy Trust. THE TORONTO STOCK EXCHANGE Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE. CONTACT: APF Energy Group Martin Hislop, 403/ 294-1000 403/ 294-1074 (FAX) (800) 838-9206 (Toll Free) www.apfenergy.com or APF Energy Management Inc. Steven Cloutier, 403/ 294-1000 403/ 294-1074 (FAX) (800) 838-9206 (Toll Free) invest@apfenergy.com |
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