Best Pacific reports solid growth in 1994 and continued progress with immigration fund.CALGARY, Alberta--(BUSINESS WIRE)--May 9, 1995--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. (BPR (Business Process Reengineering) See reengineering. BPR - Business Process Re-engineering ) announced its financial results for the year ended December 31, 1994. Production levels at year end were up significantly to 270 barrels of oil per day ("bopd") from 124 bopd at December 31, 1993. As a result, revenue net of royalties increased by 178% from $393,205 to $1,092,139. The higher production levels and improved oil prices caused cash flow per share to increase to $385,063 or $0.044 per share in 1994 compared to a cash flow deficit of $8,285 or $0.001 per share at December 31, 1993. Significant progress is being made by the company in raising funds through the Immigrant Investor Program. $4,500,000 has been released to the company to date, of which $2,850,000 is available for acquisition and development in Alberta. As existing subscribers to the fund receive immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. visa approval, the Company expects to receive an additional $4,500,000 during the remainder of the year. A total of ten million dollars can be raised by the Company from this source. Best Pacific Resources Ltd. is listed on the Alberta Stock Exchange -- trading symbol Trading symbol See: Ticker symbol -- BPG. -0- Note: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Stephen Ko or Steven Kirk 403/263-8389 403/233-7463 (fax) REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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