Cirque Energy Ltd. purchases 29% interest in the Battle Creek Field in Saskatchewan.CALGARY, Alberta--(BUSINESS WIRE)--Dec. 15, 1995--Cirque Energy Ltd. announces the acquisition of an additional 29.0% working interest in the Battle Creek Battle Creek, city (1990 pop. 53,540), Calhoun co., S Mich., at the confluence of the Kalamazoo and Battle Creek rivers; settled 1831, inc. as a city 1859. It is an agricultural trade center known for its cereals. Field in Saskatchewan from Minorca Minorca (mĭnôr`kə), Span. Menorca, Spanish island (1991 pop. 65,109), 271 sq mi (702 km), Baleares prov., in the W Mediterranean Sea, the second largest of the Balearic Islands. Port Mahón is the chief city and port. Resources Inc. of Toronto. This increases Cirque's interest in the property to 84.5% and will add an additional 150 BOPD BOPD Barrels of Oil Per Day BOPD Bataan Ocean Petroleum Depot of oil production to the company. The acquistion, which closed Dec. 15, 1995, was financed with $1,040,000 in cash plus the issue of 700,000 common shares from treasury and 350,000 share purchase warrants. The Battle Creek Field remains the company's key producing property with the potential for up to five additional horizontal locations. Current plans call for the drilling of one to two wells during 1996. -0- Note to Editors: The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the contents of this news release. CONTACT: Cirque Energy Ltd., Calgary Glen A. Phillips, 403/266-4344; 403/290-0043 (fax) |
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