Ambra Resources Group Inc. Acquires an Additional 25% of Venture Oil and Gas Inc; Schedules Exploration and Development Program for 2000.Business/Energy Editors 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)--April 25, 2000 Ambra A subsidiary of the IBM PC Company that sold PCs as "IBM clones" via direct mail under the Ambra name. Although only a year in business, Ambra was shut down by IBM in 1994, claiming it caused too much confusion in the marketplace. Resources Group (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABRG) has purchased an additional 25% of Venture Oil and Gas Inc, thereby increasing its ownership of Venture Oil to 75%. The new investment by Ambra Resources will increase Ambra's interests in the projects which the two companies have selected for this year's exploration and development program. PETROLEUM DIVISION: Ambra's exploration and development plan for year 2000 will optimize optimize - optimisation production for the following eight projects.
Project Name Interest-Ownership
McNeil Ranch Field, Duval County, Texas 12.5%
Erath Prospect, Vermillion Parish, La. 10%
Cameron Meadows Field, Cameron Parish, La. 40%
S. Barataria Field, Jefferson Parish, La. 18.75%
Bastian Bay Field, Plaquemines Parish, La. 6.25%
Lake Washington Field, Plaquemines Parish, La. 75%
Charenton Field, St. Mary's Parish, La. 40%
Red River Bull Bayou Unit, Red River Parish, La. 100%
Venture Oil and Gas estimates the potential gross daily production from these selected projects will yield in excess of 200 Net Barrels of oil per day and over 1,000 Mcf of gas per day. The combined net income from oil and gas production under this plan is projected to be approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $2.5 million per year. By the Board of Directors, Ambra Resources Group Inc. |
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