Ambra Resources Group Inc. Opens New Information Technology Division Offices in Princeton, New Jersey; Reports New Petroleum Division Project Values.Business Editors/Energy Writers VANCOUVER, British Columbia--(BUSINESS WIRE)--March 23, 2000 Ambra Resources Group (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABRG) is pleased to report on the company's continuing efforts to create shareholder value by asset acquisition in the Information Technology arena and by optimizing the company's inventory of petroleum projects. INFORMATION TECHNOLOGY DIVISION: Ambra Resources Group has appointed Steven J. Weiss as director of Business Development and Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. for the company's I.T. Division. The company has opened new I.T. Division offices in Princeton, New Jersey
Princeton, New Jersey is located in Mercer County, New Jersey, United States. Princeton University has been sited in the town since 1756. in order to manage and market the extensive listing of domain names it obtained with the acquisition of a 60% equity interest in The First Domain Name Company, Inc., http://www.firstdomainnamecompany.com. Mr. Weiss will direct his efforts towards making The First Domain Name Company the premier online marketer of registered domain names. Ambra's I.T. division will provide full service internet reseller services for domain names and web site development for businesses. The company has also retained the services of experienced web masters to complete the web portals and to launch its new online businesses for The Real McCoy Real McCoy, the probably originally McKay, a Scotch whisky; the term now alludes to the “first or best of its kind” or “the actual one.” [Pop. Culture: Payton, 409] See : Genuineness and for Office Managers.net. The Real McCoy provides internet marketing See Internet advertising. of products which are "the original" versions of their respective lines. Office Managers is an online marketing portal for office supplies Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). and business services: http://www.officemanagers.net. Ambra's Information Technology Division is currently reviewing additional online businesses for development and acquisition and will continue an aggressive program of asset growth in order to create investor value. PETROLEUM DIVISION: The recent price increases in oil and gas has added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Ambra Resources Group has agreed to acquire additional working interests in the 23 square mile Cessford, Alberta, Canada Amex Joint Venture. The operator, Promax Energy (CDNX CDNX See Canadian Venture Exchange (CDNX). :PMY) will expand the pipeline gathering system to include additional production beyond the first six wells that obtained economic production in 1999. This expansion will effectively double the acreage served by the pipeline and will increase Ambra's gas revenues from the project. Ambra's increased participation will include the additional acreage to be served by the expanded pipeline system. After finalization of the contract, Ambra's interest will be 5% for the entire Cessford project including revenues from the expanded pipeline system. Due to the current high valuations of certain project interests owned by Ambra Resources, the company plans to sell some of the interests that have appreciated due to increases in oil and gas prices. This will enable the company to optimize production for the retained projects thereby achieving greater oil and gas production at current price levels. Ambra and 50% owned partner, Venture Oil and Gas estimate their potential production from this new allocation of resources allocation of resources Apportionment of productive assets among different uses. The issue of resource allocation arises as societies seek to balance limited resources (capital, labour, land) against the various and often unlimited wants of their members. to be approximately 344 barrels of oil per day and 1,331 mcf of gas per day. The combined revenue potential from oil and gas production under this new allocation is projected to be approximately $2.5 million per year over the life of the wells for the retained eight project inventory. Ambra's Plaquemines Parish project, State Lease "9800" No. 1, Bastian Bay Field Prospect has met all requirements of the Coastal Management Division of the Department of Natural Resources Many sub-national governments have a Department of Natural Resources or similarly-named organization:
By the Board of Directors, Ambra Resources Group, Inc. |
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