Enterprise Development Corporation Announces Flow-Through Share Financing.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--April 2, 1996--ENTERPRISE DEVELOPMENT(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :ED) ENTERPRISE DEVELOPMENT CORPORATION, of Calgary, announced today that Marleau Lemire Securities Inc., Montreal Montreal (mŏn'trēôl`), Fr. Montréal (môNrāäl`), city (1991 pop. 1,017,666), S Que., Canada, on Montreal island, surrounded by St. Lawrence River and Rivière des Prairies. , P.Q. has agreed to act as agent in respect to a maximum $900,000 flow-through share financing. Closing is expected on or before April 5, 1996. Proceeds will be invested in exploratory drilling on ED's Sakwatamau prospect near 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. . ED and its joint venture partner are drilling the 6-5-63-14 W5M exploratory well on the prospect, and expect drilling operations to be completed within 15 days. The well, a 9,400 foot Beaverhill Lake Beaverhill Lake (Cree: amisk-wa-chi-sakhahigan) is a large lake in central Alberta, Canada. It is located 70 km southeast of Edmonton, near the village of Tofield. test, has reached 8,500 feet in depth. Production testing is continuing on the 4-7-63-14 W5M horizontal well. A natural gas pipeline is expected to be completed by April 30 to tie gas production into an area gas plant. ED and its joint venture partner have commissioned an engineering study to determine the optimum method of production and the installation of recommended production equipment will commence following spring break up in the area. -0- NOTE TO EDITORS: The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. CONTACT: Enterprise Development Corporation Garry Kilbourn Calgary (403) 237-6950 or Enterprise Development Corporation Larry Lar´ry n. 1. Same as Lorry, or Lorrie. Wagar Calgary (403) 237-6950 or Enterprise Development Corporation John Pipe Toronto (416) 340-2756 |
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