Barnabus to Proceed with Natural Gas Acquisition.CALGARY, Alberta -- Barnabus Enterprises Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BBSE BBSE Bull Breeding Soundness Evaluation BBSE Bilateral Breath Sounds Equal (pulmonary examination finding) BBSE Brigade/Battalion Staff Exercise BBSE Ballyboden St. Enda's (Dublin, Ireland) ) is pleased today to announce that the Company will be proceeding with the acquisition of a 90% interest in the Manyberries Gas Project, Alberta Canada. Barnabus has successfully completed the 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. on the project and will now proceed toward execution of formal agreements with the vendors. Barnabus announced on Dec. 17, 2004, that it entered into a non-binding Letter of Intent with MB Gas, Inc., Goldstar Gas Corporation, and other parties, to acquire a 90% interest in Goldstar Gas Corp.'s Manyberries Gas Project subject to due diligence. The Company now anticipates the signing of the formal agreements shortly and will release details of the project at that time. In addition, Management is currently contemplating a 2:1 share consolidation as an important step in the overall business development plan. This would be accompanied by a name and CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. change to more accurately reflect the new direction into the energy sector. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Enterprises Ltd. has little or no control. ON BEHALF OF THE BOARD Barnabus Enterprises Ltd. Kerry Nagy, President |
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