Canop Announces Paladin Joint Venture in Tanzania.CALGARY, ALBERTA--(BUSINESS WIRE)--Nov. 5, 1998--Canop Worldwide(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CWC CWC Chemical Weapons Convention CWC Cricket World Cup CWC Central Wyoming College CWC Ceylon Workers' Congress (trade union; Sri Lanka) CWC Ceylon Workers Congress (Sri Lanka) .) Canop Worldwide Corp. ("Corp."), an international oil and gas exploration company based in Calgary, Canada, announce they have signed an agreement whereby Paladin Resources plc ("Paladin") of London, England will earn a 20 percent interest in a 4.3 million acre oil and gas exploration concession in coastal Tanzania which is governed by a Production Sharing Agreement Production sharing agreements (PSAs) are used primarily to determine the share a private company will receive of the natural resources (usually oil) extracted from a particular country. (PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. ) issued on June 10, 1997 by the government of Tanzania to Canop. Paladin will earn their interest in the entirety of the PSA area by paying certain seismic costs in the initial exploration phase, and by reimbursing Canop for certain previously incurred costs. Note to Editors: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. |
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