Best Pacific Announces Second Proposed Acquisition.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--June 18, 1996--BEST PACIFIC RESOURCES (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : BPG BPG Blocks Per Game (basketball statistic) BPG Bisphosphoglycerate BPG Bi-National Planning Group (NORADHQ) BPG Belgian Polymer Group BPG Binational Planning Group ) Best Pacific Resources Ltd. is pleased to announce that it has entered into a letter agreement with a major oil and gas company to acquire on behalf of itself and an industry partner, certain oil and gas assets situated in southeast Saskatchewan for consideration of $6,030,000. Best Pacific intends to acquire 75 percent of the acquisition using a combination of cash on hand and available credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities . In exchange for a portion of its share of the purchase price, Best Pacific intends to transfer its 23.198 percent working interest in the Midale South Voluntary Unit No.2 to the vendor for $1,350,000. This acquisition, coupled with the acquisition previously announced on June 17, 1996, is anticipated to more than double Best Pacific's current total production to slightly over 1,000 barrels of oil equivalent per day. Conclusion of the transaction is subject to regulatory and board of directors approval and conclusion of appropriate 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. review of the assets proposed to be acquired. Subject to satisfaction of all conditions, it is anticipated that the acquisition will be concluded on or about July 31, 1996. Best Pacific Resources Ltd. is listed on the Alberta Stock Exchange - Trading symbol Trading symbol See: Ticker symbol - BPG. -0- NOTE TO EDITORS: The Alberta Stock Exchange has neither approved or disapproved the information contained herein. CONTACT: Best Pacific Resources Ltd. Stephen C.M. Ko, 403/263-8389 403/233-7463 (FAX) or Best Pacific Resources Ltd. Steven Kirk, 403/263-8389 403/233-7463 (FAX) |
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