Apex Resources Group Inc. Announces Settlement Regarding Gas Well in Bastian Bay, Louisiana.Energy Editors/Business Editors SALT LAKE CITY--(BUSINESS WIRE)--Nov. 3, 2003 Publicly-traded Apex Resources Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APXR) announces settlement regarding Gas Well in Bastian Bastian, as a surname, may refer to:
 ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. .
Following unparalleled delays of over three years in completing the laying of the flow line of Bastian Bay Louisiana, Gas Well-State Lease 16152 a settlement is being negotiated with the Oyster oyster, edible bivalve mollusk found in beds in shallow, warm waters of all oceans. The shell is made up of two valves, the upper one flat and the lower convex, with variable outlines and a rough outer surface. Bed Lease Holder at Bastian Bay where the line runs. The basic offer is as follows: A. The operator (Royal "T" Oil) will pay the Lease Holder $20,000.00 out of production in the well. B. The operator (Royal "T" Oil) will pay the Lease Holder $15,000.00 cash. C. The Lease Holder will receive 1.5% overriding (programming) overriding - Redefining in a child class a method or function member defined in a parent class. Not to be confused with "overloading". interest in the well. D. For this consideration, The Lease Holder will drop all litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . The Operator (Royal "T" Oil will also drop its cross litigation. The Investors were asked to contribute to the $15,000.00 cash payment and the balance to be split by the working partners. Royal "T" Oil and Apex Resources Group Inc. (6.25% working interest) will contribute $3,400.00 each to complete the payment. An Agreement is being negotiated by the Operator (Royal "T" Oil) with Mid East Gas Systems, Inc. for the construction and operation of a pipeline connecting SL16152 No. 1 Well with the Gilmore Gilmore is a surname, and may refer to: People
The Operator expects the Agreement to be completed within the next few weeks and construction of the balance of the pipeline to begin. Bastian Bay State Lease No. 1 16152 tests have proven approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. two million cubic feet of gas per day. This is an extremely good well and Apex with a 6.25% interest would be expecting monthly income of approximately $15,000.00 after working interest and royalty payments. Further news updates will be published as work progresses. Apex Resources Group Inc. would like to thank all shareholders for their patience during this ongoing dilemma Dilemma Buridan’s ass placed exactly between two equal haystacks, could not decide which to turn to in his hunger. [Fr. Philos.: Brewer Dictionary, 154] . By the Board of Directors Apex Resources Group Inc. Investor Relations - Roger Reynolds Suite 1600 - 136 East South Temple Salt Lake City, Utah, 84111 801 363.2599 www.apexresourcesgroup.com The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such words as "may", "will", "believes", "anticipates", "estimates", "continue", or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group Inc. |
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