Dusty Mac Oil & Gas Ltd.; Understanding reached with PetroVietnam.VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 1, 1994--The following is a letter put out by George H. Laycraft, president of Dusty Mac Oil & Gas Ltd. on behalf of the board of directors, regarding an understanding reached with PetroVietnam: -0- UNDERSTANDING REACHED WITH PETROVIETNAM The Company is pleased to announce that a minute of understanding was reached and signed with the Vietnam Oil and Gas Corporation (PetroVietnam) in Hanoi on October 28, 1994. The first area of extensive acreage is in the largest northern basin close to pipelines and end users. Additional areas contained in the proposal are in close proximity to Vietnam's only onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. gas production. Other large oil companies are currently engaged in geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. activities in adjoining areas. Existing seismic and geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. information has identified numerous shallow to medium depth drilling objectives, closely offsetting current production. There is in excess of 4,000 kms. of seismic in this Basin. The Company is in the process of assembling a consortium of qualified companies with the ability to exploit this project. Negotiations were led by New World Economic Development Inc. of St. Louis, Missouri Missouri, state, United States Missouri (mĭz  r`ē, –ə), one of the midwestern states of the United States. and
Mirage Managment Corporation Inc. of Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. .
Additional geologic ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. and geophysical studies will be conducted in cooperation with PetroVietnam in both mainland and coastal areas involved in this proposal. Further announcements concerning these and other negotiations will be released at a later date. Company negotiators have been most pleased with the high level of cooperation and friendship extended by officials of PetroVietnam. On Behalf of the Board of Directors of DUSTY MAC OIL & GAS LTD. George H. Laycraft President CONTACT: Dusty Mac Oil & Gas Ltd. George H. Laycraft, 800/444-9348 (U.S. Toll-Free) |
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