Calvalley Petroleum Inc. announces a joint venture.CALGARY, ALBERTA--(BUSINESS WIRE)--JANUARY 26, 1996--CALVALLEY PETROLEUM IN(ME:CVI CVI C (Language) Virtual Instrument CVI Clinical and Vaccine Immunology (journal) CVI Chronic Venous Insufficiency CVI Coastal Vulnerability Index CVI Canaan Valley Institute ) Calvalley Petroleum Inc. announces that it has acquired an interest in a joint venture with Entreprise Development Corporation (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ) and Cadex Energy Corporation. Calvalley's interest is 50 percent of the joint venture prior to payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. and approximately 36 percent after payout in a producing, horizontal well in the Swan Hills area of Northwest Alberta. The joint venture has also acquired the right to earn in 8.25 sections of adjacent mineral rights by the drilling of two additional wells in 1996. Calvalley has been appointed operator of this joint venture and it has an immediate program to enhance the production from the existing well. This acquisition is subject to regulatory approval. Calvalley is an oil and gas exploration and development company listed on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg . CONTACT: Martin Zimmerman Corporate Secretary 403/297-0486 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 617-236-4266 or |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion