Consolidated Ramrod and Enterprise Development announce series of agreements.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 13, 1995-- Consolidated Ramrod Gold Corporation (TSE: CYN, NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CYNXF BERLIN OTC EXCHANGE No.867 958, EDV-KURZEL: CRC) and Enterprise Development Corporation (ASE: ED) of Calgary, Alberta, announced today that their respective oil and gas divisions have agreed to enter into a mutually beneficial series of agreements designed to implement a new, focused business strategy for each company. Ramrod, in association with Don H. Ford & Associates, exploitation geologists, New Braunfels, Texas New Braunfels (pronounced "Brawnfells") is a city in Texas in the United States. Braunfels means "brown rock" in German; the city is named for Braunfels, in Germany. In 2000, its population was 36,494, while in 2005 the U.S. , intends to aggressively pursue oil and gas exploration, development and production opportunities in the United States and Latin America, with major commitments in Texas, Ecuador and Guatemala. Enterprise, with its long-standing Canadian oil and gas expertise, is significantly increasing its exploration activities in Western Canada and the North West Territories, and has made a decision to focus exclusively on core areas of interest in the Western Canadian Sedimentary Basin The Western Canadian Sedimentary Basin (WCSB) is a vast sedimentary basin underlying 1.4 million square kilometres (550,0000 sq. mi.) of Western Canada including southwestern Manitoba, southern Saskatchewan, Alberta, northeastern British Columbia and the southwest corner of the . Accordingly, Ramrod has agreed to exchange its working interest in ED's Swan Hills, Alberta Swan Hills is a town (incorporated January 1, 1967) in northern Alberta, Canada. It is located km ( mi) north of Whitecourt at the junction of Highway 32 and Grizzly Trail. Swan Hills is located in Municipal District of Big Lakes within census Division No. 17, Alberta. prospect for a 1 percent overriding royalty interest overriding royalty interest A third-party interest in royalty income derived from oil and gas rights. . ED has agreed to exchange its working interest in Ramrod's Brazos County, Texas prospect for a 2.5 percent overriding royalty interest. Subject to regulatory approval, Ramrod has further agreed to acquire 1.2 million series A First Preferred Shares of ED with a par value of $1.00. Each preferred share is convertible into two common shares of ED at any time after February, 1996, and until February, 2000. CONSOLIDATED RAMROD GOLD CORPORATION Karl H. Rollke, President -0- The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). and NASDAQ have neither approved nor disapproved of the contents of this press release. CONTACT: Consolidated Ramrod Gold Corporation, Karl H. Rollke, 604/682-6477 KEYWORDS: REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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