Bargold Signs Standstill Agreement.Business Editors HOUSTON--(BUSINESS WIRE)--Aug. 18, 2000 Bargold Resources Ltd. ("Bargold") (CDNX CDNX See Canadian Venture Exchange (CDNX). :BGA (Ball Grid Array) A popular surface mount chip package that uses a grid of solder balls as its connectors. Available in plastic and ceramic varieties, BGA is noted for its compact size, high lead count and low inductance, which allows lower voltages to be used. ) has entered into a standstill agreement Standstill agreement Contract by which the bidding firm in a takeover attempt agrees to limit its holdings of another firm. standstill agreement , dated 17th August 2000, with CrymGeologia State Geologic Enterprise ("CrymGeologia"), Simferopol, AR Crimea, Ukraine, a former Soviet Socialist Republic Socialist Republic is a republic governed on the principles of socialism usually by a communist or a socialist party. They are usually focused on a centrally planned economy, but sometimes they mix their economy with elements of a free market of the USSR USSR: see Union of Soviet Socialist Republics. . Bargold plans to investigate and conduct due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. with a view to establishing a joint venture activities agreement with CrymGeologia. CrymGeologia owns a 100% interest in Karlavske, a mineral license and existing works comprising of an Oil & Gas deposit on three separate horizons. CryGeologia has carried out advanced geological as well as advanced seismic studies on the property. According to CrymGeologia, the property currently has Oil & Gas reserves on all three horizons with Gas on horizons numbers one and three and Oil on number two. A total of fourteen Wells are currently in production on the license, with thirteen producing Gas and one producing Oil, as stated by CrymGeologia. The Karlavske licence (No. 1177 issued March 24, 1999.) is 60 square kilometers and is located at the following coordinates: Point 1: 45'28'40 "; 32'47'30" Point 3: 45'31'30 "; 32'57'00" Point 2: 45'31'30 "; 32'47'30" Point 4: 45'28'40 "; 32'57'30" Under the terms of the Standstill Agreement, Bargold will have a 90 day period to carry out a due diligence review of Karlavske, during which time CrymGeologia has agreed to refrain from seeking or entertaining any other offers to acquire an interest in Karlavske. The length of the due diligence period may be extended with the mutual consent in writing of all parties. Subject to a satisfactory due diligence review by the parties, Bargold and CrymGeologia agree to use their good-faith efforts to negotiate and enter into a contract providing for Bargold to acquire an interest in, and the establishment of a joint activities agreement in respect of, Karlavske. ON BEHALF OF THE BOARD OF DIRECTORS "Eugene Larabie" President Bargold Resources Ltd. The contents of this News Release have neither been approved nor disapproved by the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) . |
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