Canadian 88 Energy Corp. Pays Record Price for Waterton Land at March 5, 1997 Land Sale.CALGARY, ALBERTA--(BUSINESS WIRE)--March 6, 1997--Canadian 88 (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :EEE EEE eastern equine encephalomyelitis. EEE eastern equine encephalomyelitis. .) Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. 88 Energy Corp. of Calgary, Alberta announced today that it has paid a record price of $1.25 million ($7,096. per hectare hectare (hĕk`târ, –tär), abbr. ha, unit of area in the metric system, equal to 10,000 sq m, or about 2.47 acres. ) for 440 acres at the March 5, 1997 Alberta Government Crown Land Sale, results of which were released this morning. The acreage is 3 1/2 miles southeast of Canadian 88's recent Waterton natural gas discovery. Canadian 88 is currently in the process of commencing a multi-well drilling program in the area based on a large high resolution 3-D seismic program conducted by Canadian 88 in the area during late 1996. The parcel was purchased 90 percent by Canadian 88 and 10 percent by Prize Energy Inc., the latter having a 10 percent carried interest in the Waterton prospect. Canadian 88 Energy Corp. (EEE) is an independent public oil and gas Company with head offices in Calgary, Alberta, Canada. -0- The information contained herein has neither been approved nor disapproved by the Toronto and Alberta Stock Exchanges CONTACT: Canadian 88 Energy Corp. Greg S. Noval, 403/974-8800 403/974-8811 (FAX) |
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