Best Pacific announces proposed acquisition.CALGARY, Alberta--(BUSINESS WIRE)--June 17, 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. (the "Corporation") today announced that it has entered into a letter of intent with a major oil and gas company to acquire on behalf of itself and an industry partner, certain oil and gas assets situated in east central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. for cash consideration of $9,218,000. Current production from these properties is over 6 million cubic feet of gas per day and 40 barrels of oil per day. Best Pacific will operate these properties and intends to acquire a minimum of 50 percent of the acquisition. 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 4, 1996. For further information please contact Stephen C.M. Ko or Steven Kirk, Best Pacific Resources Ltd., 1880, 144 - 4th Avenue S.W., Calgary, Alberta T2P T2P Type-Two Phaser (Star Trek) T2P Transition to Production (computer systems development) 3N4, Telephone: (403) 263-8389, Facsimile: (403) 233-7463. 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., Calgary Stephen C. M. Ko or Steven D. Kirk, 403/263-8389 403/233-7463 (Fax) |
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