Colony To Apply For Listing On CDNX, Regulatory Approval Obtained For Medicine Hat And Sousa Farm-In.Business Editors VANCOUVER, B. C.--(BUSINESS WIRE)--Aug. 1, 2000 Colony Pacific Explorations Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CYX.) announces that it has applied for listing 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) ("CDNX CDNX See Canadian Venture Exchange (CDNX). ") under the streamlined application review process for Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. ("TSE") listed companies who do not meet continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. on the TSE but qualify for listing on CDNX. The application follows a decision by the TSE to suspend trading of Colony shares as of the market close on Thursday August 31, 2000 for failure to meet the TSE's continued listing requirements. The CDNX has not passed on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers of Colony's application for listing and consequently no assurance can be given that Colony's application will be accepted. Colony also reports that the TSE has approved participation by the Company in two natural gas development projects on the following terms: The first project consists of 4 infill development wells located in the Medicine Hat area of Alberta. Colony is paying a 25% share of drilling, casing and completion costs to earn a 25% share of revenues from the wells until payout and a 6.25% share of revenues after payout. The second project is a workover of 16 existing wells located in the Sousa area of Alberta. Colony is paying a 4.9084% share of workover costs to earn a 4.9084% share of revenues from the wells until payout and a 1.2271% share of revenues after payout. Colony's share of development expenditures on Medicine Hat and Sousa is approximately $500,000. |
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