Best Pacific closes major acquisition in east central Alberta.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)--Oct. 3, 1996--Best Pacific (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. announced that it has closed, on behalf of itself and an industry partner, the acquisition of certain oil and gas assets 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. from a major oil company. Best Pacific has acquired 75 percent of the acquisition for $6,538,500 using a combination of cash on hand and available bank credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities . Effective April 1, 1996, this transaction has added a net production of 4.6 million cubic feet of gas and 46 barrels of oil and natural gas liquids per day (506 barrels of oil equivalent per day) to Best Pacific. This acquisition provides an inventory of gas projects for future development with over 53,000 gross acres of land (80 percent operated). On these lands the Company has an aggressive exploitation program in place for the remainder of 1996 and the first half of 1997. The inclusion of an extensive gas gathering system in this acquisition with 7 operated and 2 non operated gas facilities provides the Company with the opportunity to economically enhance existing production levels. This acquisition reflects Best Pacific's efforts to achieve a balanced mix of oil and gas production. -0- NOTE: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Best Pacific Resources Ltd. Stephen Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and C.M. Ko, 403/263-8389; 403/233-7463 (fax) |
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