Ambra Resources Group Inc. Corporate Update.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 28, 2001 Ambra Resources Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABRG) AMBRA PETROLEUM DIVISION ROBERTSON COUNTY, TEXAS Robertson County is a county located in the U.S. state of Texas. It forms part of the College Station-Bryan Metropolitan Statistical Area. In 2000, its population was 16,000. Its seat is Franklin6. The county is named for Sterling C. During July, Ambra purchased a 50% interest in mineral leases in the Hughes Prospect, Robertson County, Texas. These leases consist of 6340 net mineral acres and all have 3 to 4 year terms. The purchase price of these leases was $175,289.00 for a 50% interest. Ambra's partner in the lease is Hickson Energy, Corp. They have been approached by a major Oil and Gas Company and are expecting an offer for the leases by mid - December. KARNES COUNTY, TEXAS Karnes County is a county located in the U.S. state of Texas. As of 2000, the population is 15,446. Its county seat is Karnes City6. Karnes County is named for Henry Wax Karnes, a soldier in the Texas Revolution. Geography According to the U.S. During October Ambra and Venture Energy, Inc. each purchased a 1% working interest in a Horizontal drilling program listed as the Thunderbird thunderbird In North American Indian mythology, a powerful spirit in the form of a bird that watered the earth and made vegetation grow. Lightning was believed to flash from its eyes or beak, and the beating of its wings was thought to represent rolling thunder. Prospect Well No. 1 in Karnes County, Texas. The project has the potential to generate 500,000 barrels of oil per Well. Drilling will begin when the Operator has completed the participation agreements with investors. WHARTON COUNTY, TEXAS Wharton County is a county located in the U.S. state of Texas. In 2000, its population was 41,188. Its county seat is Wharton6. Geography According to the U.S. Census Bureau, the county has a total area of 2,835 km² (1,094 mi²). Wharton County, Texas Ten 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 consisted of drilling the Hutchins Peareson No 6, which came in and is producing over 600,000 cubic feet of gas per day. The second Well to be drilled (Krenek Well No. 2) was no more than remnant sand and was abandoned. In mid - September Ambra and Venture Energy, Inc. were informed by Consolidated Petroleum Partners that due to lower than expected gas prices the drilling of the balance of the Wells will be postponed until further notice. PLAQUEMINES PARISH, LOUISIANA Plaquemines Parish (Cajun French: Paroisse Plaquemine) is the parish with the most combined land and water area in the U.S. state of Louisiana. The parish seat is Pointe à la Hache. As of 2000, the parish's population was 26,757. Ambra Resources Group, Inc. is currently working with our legal counsel to have the 6.5% working interest in the Louisiana Gas Well (state lease 16152 formerly state lease 9800) transferred to Ambra's name as part of the final settlement in our relationship with Venture Oil & Gas, Inc. Plans are underway to apply for new permits and hookup hookup, n in the Trager method of therapy, the practitioner enters into a meditative state along with the patient, which allows him or her to work more intuitively and to feel subtle changes in the patient's movement and tissue texture. the Well by ground gas line. 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. EXPLORATION Ambra purchased a 3.745% working interest in the Beaufort Sea Well Esso Pex Home et al Itiyok I-27 consisting of 640 acres and is located at latitude 70-00', Longitude 134-00', Sections 7, 8, 17, 27, 28, and 37, License No. 55, dated April 22, 1987. During 1982 and 1983 a consortium of companies participated in the drilling, casing, and testing the area to a depth of 12,980 feet. A review of the well data and geological prognosis indicates that the area would contain proven recoverable gas of over 100 billion cubic feet and proven recoverable oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally of over 8.9 million barrels of oil. The main partners in the project will develop the area when a pipeline is completed to hook up with the southern States Southern States U.S. Confederacy government of 11 Southern states that left the Union in 1860. [Am. Hist.: EB, III: 73] Dixie popular name for Southern states in U.S. and for song. [Am. Hist. . In a recent article in The Vancouver Sun (newspaper) a consortium of Canadian, U.S. companies unveiled a $25 billion plan to build a pipeline in B.C., Alberta and Alaska. Westcoast Energy and TransCanada Pipelines Ltd. made the announcement November 15/01. These companies own the right of way to the route through their joint venture company Foothills Pipe Lines Ltd. The group expects to present a construction plan by the end of the year. In addition, a consortium of producers including Exxon Mobil Canada, Imperial Oil, Conoco Canada and Shell Canada are expected to announce a $3 billion pipeline down the Mackenzie Valley to transport gas from the Mackenzie Delta and Beaufort Sea region. These pipelines will open up the transportation of the billions of gas and oil reserves from the far north. AMBRA INFORMATION TECHNOLOGY DIVISION OFFICE MANAGERS, INC. The web site -- www.officemanagers.net -- is an online site for office and business services, supplies, billing and collections. The site has great potential and management will be taking action to develop its potential early in 2002. The Company has completed its prospectus and has submitted it to the Securities and Exchange Commission for approval to proceed with an Initial Public Offering and be ready for trading in December or early January 2002. FIRST DOMAIN NAME COMPANY The Company has decided not to pursue its involvement in the sale of Domain Names through First Domain Name Company. That particular segment of the technology sector is no longer a viable investment. AMBRA LAND DIVISION ABBECOMBEC OCEAN VILLAGE RESORT Ambra Land Division owns two large acreage Ocean front properties with houses at the Abbecombec Ocean Village Resort. This resort is located on the shore of Clam clam, common name for certain bivalve mollusks, especially for marine species that live buried in mud or sand and have valves (the two pieces of the shell) of equal size. Bay 40 miles north east of Halifax, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
SUMMARY Ambra Resources Group, Inc. is a fully reporting Resource Company and all Financials have been filed. With the apparent stabilization of the market in general, Ambra Management feels the coming year will see a tremendous growth for the operating divisions. By the Board of Directors, Ambra Resources Group Inc. John M. Hickey President |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion