Indusmin Enters Protocol of Intent on Oil & Gas Property, Name Change Becomes Effective, New Symbol.Business Editors and Energy Writers HOUSTON--(BUSINESS WIRE)--Nov. 7, 2000 Indusmin Energy Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). :IDM (1) See identity management. (2) (Integrated Device Manufacturer) A company that performs every step of the chip-making process, including design, manufacture, test and packaging. Examples of IDMs are Intel, AMD, Motorola, IBM, TI and Lucent. ) Name Change Effective at the market open November 7th, 2000, Indusmin Energy Corporation (formerly Bargold Resources Ltd.)(CDNX:IDM) will commence trading under the new symbol IDM. The new name becomes effective pursuant to a special resolution passed by shareholders on September 14, 2000. The Board of Directors believes the new name more accurately reflects the direction of the Company. Indusmin Enters Protocol of Intent for Joint Activity Agreement. Indusmin Energy Corporation ("Indusmin Energy") has entered into a protocol of intent for joint activities, dated as of the 23rd day of October 2000, with CrymGeologia State Geologic Enterprise ("CrymGeologia") in respect of the Karlavskoye oil & gas property and the Krasnopolianskoye, Povorotnoye, Pridorozhnoye and Alexeevskoye gas fields, located in the autonomous Republic A significant number of autonomous republics can be found within the successor states of the Soviet Union, but the majority are located within Russia. Many of these republics were established during the Soviet period as Autonomous Soviet Socialist Republics, or ASSRs. of Crimea. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. CrymGeologia, the Karlavskoye oil and gas property currently has a proven oil & gas reserves of 1.72.5 million B.O.E. (Barrels Oil Equivalent) with additional probable reserves of 219.5 million B.O.E. for a total of over 392 million B.O.E. proven plus probable. The company is preparing to carry out a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review of the property's oil & gas reserves as well as a review of the Krasnopolianskoye, Povorotnoye, Pridorozhnoye and Alexeevskoye gas fields. Under the terms of the Agreement, Indusmin Energy will have two months from the date of receipt of the technical data to review the data and enter into a joint activity agreement with CrymGeologia. While Indusmin Energy is completing its review of the technical data, CrymGeologia has agreed to refrain from soliciting other offers for the properties. These additional properties came to the attention of Indusmin Energy while carrying out its due diligence review of the Karlavske licence under its previously announced (August 18, 2000) Standstill Agreement Standstill agreement Contract by which the bidding firm in a takeover attempt agrees to limit its holdings of another firm. standstill agreement with CrymGeologia. About Indusmin Energy Corporation Indusmin Energy is committed to the business philosophy of identifying and acquiring business opportunities in newly emerging markets. Indusmin's global network of personnel provides the company with a unique opportunity to actively pursue transactions worldwide. Indusmin Energy is focused on oil properties with proven reserves and base metal and industrial mineral properties in production or near production within emerging countries. Our oil and gas advisory board includes: Catherine Zammito has joined the Indusmin Advisory Board with over nineteen years of financial experience in the energy and oil & gas sectors. Ms. Zammito expertise includes nine years with Enron (NYSE NYSE See: New York Stock Exchange :ENE) including tenure as Chief Financial Officer of Enron Global Power & Pipeline. C. Alan Peyton has joined Indusmin Energy as Senior Geophysicist with thirty-eight years experience in the oil and gas industry. Mr. Payton's various positions have included top positions at Hunt International Petroleum, Phillips Petroleum (NYSE:P) and Marathon Petroleum (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :M). Indusmin Energy has 7,275,002 shares outstanding, with 9,978,852 fully diluted and trades on the Canadian Ventures Exchange Inc. under the symbol IDM. David Atkinson For the Canadian academic, see . David Atkinson (born 24 March 1940) was Conservative British Member of Parliament for Bournemouth East from a 1977 by-election until he stepped down at the 2005 general election. President Indusmin Energy Corporation The contents of this News Release have neither been approved nor disapproved by 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) Inc. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion