Best Pacific Closes Major 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)--Sept. 10, 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 LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . is pleased to announce that it has closed, on behalf of itself and an industry partner, the acquisition of certain oil and gas assets in southeastern Saskatchewan from a major oil and gas company. Best Pacific has acquired 75 percent of the acquisition for $2,492,400 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 . As a portion of its share of the purchase price, Best Pacific has transferred its 23.19868 percent working interest in the Midale South Voluntary Unit No. 2 to the vendor for $1,350,000. This transaction, at a net cost of $1,142,400, has increased Best Pacific's production by approximately 200 barrels of oil per day, effective May 1, 1996. This acquisition has also added over 23,000 gross acres to the company's land inventory, more than 70 percent operated. The company has identified a number of development locations and has an aggressive exploitation program in place for the remainder of 1996 and the first quarter of 1997. Best Pacific will continue its strategy of selective acquisition within this core area. Best Pacific Resources Ltd. is listed on the Alberta Stock Exchange - trading symbol Trading symbol See: Ticker symbol - BPG. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Best Pacific Resources Ltd. Stephen C.M. Ko, 403/263-8389 403/233-7463 (FAX) |
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