Ambra Resources Group Announces Drilling of Marathon Gold Claims Completed; Boonesville No. 1 Gas and Oil Drilling to Start.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Aug. 13, 1997-- Ambra Resources Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABRG) has announced the completion of the 1997 Drilling Program on the Marathon Gold Claims. Seven holes were drilled for a total combined depth of 1900 feet of core samples, and approximately 45 samples have been selected for initial testing. Analysis of the samples will determine gold, silver and platinum values. A detailed analysis of the assay results will be conducted, enabling the company to determine the depth, direction and best locations for further drill sites for the 1998 Drilling Program. Ambra has also announced its acquisition of a 10% undivided UNDIVIDED. That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal. 2. Tenants in common, joint-tenants, and partners, hold an undivided right in their respective properties, until gross working interests in the Boonesville Gas & Oil Well Drilling Well drilling is the process of drilling a hole in the ground for the extraction of a natural resource such as ground water, natural gas, or petroleum. Drilling for the exploration of the nature of the material underground (for instance in search of metallic ore) is best described Program. The prospect is located approximately three miles west of the town of Boonesville in Wise and Jack Counties, Texas. Production has been established in as many as nine different reservoirs in the area ranging in depth from 3,000 feet to 5,250 feet. Wells producing from 1 to 2 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 and/or 30,000 to 74,000 barrels of oil are common in this area. Ambra has paid US$2,700 in acreage cost and US$12,130 in drilling and testing costs for its 10% share in the Boonesville No. 1 well. The drilling rigg is anticipated to be moved onto the property this week, and drilling will commence immediately thereafter. Wells in this area normally take ten to fifteen days to drill, and each well usually encounters one or more pay zones. Generally, acreage in this area is difficult to acquire because it is only occasionally released. Dry holes are rare and reserves are excellent, making competition intense for released acreage. The Boonesville prospect and the Boonesville No. 1 well offer the company excellent potential for return on investment and potential cashflow. "The company is excited and anxious to receive the results, report and recommendations regarding the Marathon Gold Claims drilling program," stated Ambra President John Hickey. "In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , Ambra is continuing its efforts in acquiring further assets and potential cashflow acquisitions such as the Beaufort Sea Beaufort Sea (bō`fərt), part of the Arctic Ocean, N of Alaska and Canada, between Point Barrow, Alaska, and the Canadian Arctic Archipelago. The Mackenzie River flows into the sea, which is always covered with pack ice. Project and the Boonesville gas and oil well prospect." CONTACT: Ambra Resources Group Inc., Vancouver John Hickey, 1-800-698-3377 http://www.instepmobile.com/ambra/ |
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