Altmark Energy Inc. announces the closing of an exchange and purchase of producing oil and gas properties.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--March 4, 1996--Altmark Energy Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AK) announces the closing of an exchange and purchase of producing oil and gas properties arranged with a major oil company effective Nov. 1, 1995. The transaction, which is in keeping with the company's policy of adding to its base of long life core producing properties, adds an estimated 900,000 barrels of oil equivalent to its proven reserves at a cost of approximately $2 million. With this transaction daily production in December reached approximately 550 BOE BOE Based on Experience BOE Board of Education BOE BoletÃn Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip . During February, 1996 the company participated in a successful four well development drilling program in southern Alberta Southern Alberta is a region located in the Canadian province of Alberta. As of the year 2004, the region's population was approximately 272,017[1][2]. , which has added significant reserves. Production test results will be announced in due course. Rhonda Mining Corp. has exercised its warrant for 750,000 shares at $0.40 per share increasing its holding to 7,650,000 shares (44.3%). Pursuant to the normal course issuer bid initiated Aug. 1, 1995 the company has to date purchased for cancellation 735,500 shares at an average cost of $0.38 per share resulting in there now remaining a total of 17,246,010 shares outstanding. -0- "John M. Alston", Chairman -0- The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the contents of this release. CONTACT: Altmark Energy Inc., Calgary John M. Alston or Glenn R. Alston, 800/793-8370 or 403/266-5566 |
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