Canadian Leader's Subsidiary Signs Agreement to Acquire Properties in Tunisia, North Africa.CALGARY, Alberta--(BUSINESS WIRE)--March 1, 1996--CANADIAN LEADER ENERGY(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : LOL "Laughing out loud" or "lots of luck." See digispeak. (chat) LOL - "laughing out loud", or "lots of love" or "luck". ) Canadian Leader Energy Inc. announces that it has entered into an agreement dated February 29, 1996, whereby Canadian Leader's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Duraham Petroleum Limited ("Duraham") will purchase producing and non producing properties in Tunisia, North Africa. The acquisition is subject to due diligence and regulatory body approvals. Details relating to the acquisition will be announced upon conclusion of the due diligence process. The acquisition of properties is in addition to the property about to be drilled and developed by Duraham and its partners in the Belli field, Tunisia. The previously announced re-entry and horizontal well in the Belli field is due to commence drilling prior to March 31, 1996. Canadian Leader is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. with shares trading on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbols "LOL". CONTACT: Canadian Leader Energy Inc. Jeffrey L. Standen, Chairman and C.E.O. 403/264-1095 403/264-6111 (FAX) or Canadian Leader Energy Inc. Paul W.M. Read President and C.O.O. 403/264-1095 403/264-6111 (FAX) |
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