Charger Announces Intention to Acquire Certain Oil and Gas Interests.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Sept. 12, 2000 Charger CHARGER, Scotch law. He in whose favor a decree suspended is pronounced; vet a decree may be suspended before a charge is given on it. Ersk. Pr. L. Scot. 4, 3, 7. Energy Inc. (CDNX CDNX See Canadian Venture Exchange (CDNX). :CHC CHC Chicago Cubs CHC Community Health Center CHC Chestnut Hill College (Philadelphia, Pennsylvania) CHC Congressional Hispanic Caucus CHC Community Health Council (UK National Health Service) ) (the "Corporation" or "Charger") announces that it intends to acquire certain oil and gas interests from 389588 Alberta Ltd. ("389588") pursuant to a letter agreement dated August 17, 2000 between 389588, the Corporation, Titan Energy Corp. ("Titan"), Extreme Energy Corporation ("Extreme") and Sovereign Chief Ventures Ltd. ("Sovereign"). Charger will acquire 10% of certain oil and gas interests ("Interests") of 389588 in the Green River Basin Wyoming U.S.A. for US$10,000 and will issue, subject to regulatory approval, an option ("Option") exercisable for two years from the date of grant to Titan, a private Alberta company, whereby Titan shall be entitled to acquire up to 50,000 shares of the Corporation upon payment of $0.30 per share upon satisfaction of certain performance criteria. Extreme and Sovereign will acquire 50% and 40% of the Interests, upon payment, respectively of US$50,000 and US$40,000. Titan will act as the contract operator of the Interests on behalf of Charger, Extreme, and Sovereign. Titan shall be able to exercise its Option and acquire the shares of the Corporation only if the Corporation, Extreme and Sovereign are able to book, collectively, 20 billion cubic feet of natural gas equivalent from the Green River Basin interests within the first year of operations. In addition to the above described Option, Titan will be granted options to acquire 250,000 shares of Extreme, at an exercise price of $0.30 and 150,000 shares of Sovereign, at an exercise price of $2.25 exercisable upon the same performance requirements. Should it be determined that after one year from the rig release date of the first test well drilled in the Green River Basin project, or such other date that is agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy by the parties, that the project is not commercially viable and the options will not be exercisable, Charger, Extreme and Sovereign may cancel the options. Charger Energy Inc. 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. listed on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) , trading under the symbol "CHC". Charger's primary focus is the acquisition and development of oil and natural gas reserves in Western Canada
Western Canada, commonly referred to as the West and in the states of Wyoming and Texas, U.S.A. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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