Canadian Leader Private Placement Fully Subscribed.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 inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . announces that a private placement of 1,906,210 flowthrough common shares of Canadian Leader Energy Inc. at a price of $1.00 per share arranged through Yorkton Securities Inc. of Calgary and Eagle & Partners Inc. of Toronto has been fully subscribed. The funds will be utilized by Canadian Leader Energy Inc. in its 1996 Canadian exploration program which includes development of recent discoveries in Western Canada. Canadian Leader Energy Inc. is pleased to announce that the previously announced farm-in on Marathon Petroleum Grombalis Ltd. in Tunisia, North Africa, through 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 (pay 50 percent to earn 40 percent before payout and 20 percent after payout) will commence drilling operations prior to February 20, 1996. Canadian Leader and partners will re-enter an existing vertical well in the Belli Field and drill a 400 metre horizontal section. Individual vertical wells in the field have produced up to 15,000 barrels of oil per day of 52 degree API gravity oil from the fractured karstic reservoir. It is anticipated that by utilizing horizontal drilling techniques, significant quantities of untapped oil will be recovered based on nearby analogous oil pools. Canadian Leader Energy Inc. is a public company 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 symbol "LOL". CONTACT: Canadian Leader Energy Inc. Jeffrey L. Standen Chairman and Chief Executive Officer or Paul W.M. Read President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. 403/264-1095 403/264-6111 (FAX) |
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