Safe ID Corporation Announces First Payment Towards Oil & Gas Purchase Agreement.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Aug. 8, 2002 Safe ID Corporation (OTC-BB:MYID) (the Company) is pleased to announce that the first property payment of forty thousand US dollars ($40,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) intended to secure the controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in a large oil and gas venture has been made to White Energy Corp. of Billings, Montana. The property is a 90,000 plus acreage within a 400 square mile area in the Northern Powder River Basin The Powder River Basin is a region in southeast Montana and northeast Wyoming about 120 miles east to west and 200 miles north to south known for its coal deposits. It is both a topographic drainage and geologic structural basin. of Montana. The property lies just west of the Basin's largest oil field - Bell Creek, and just east of a recent 55-square mile 3-Dimensional Seismic Survey conducted by the partnership of Westech Energy (Denver, CO) and Edge Petroleum (Houston, TX). The White Property is believed to be strategically situated for both the exciting 3-D oil play, which targets the Basin's prolific Minnelusa formation, and a larger regional shallow gas play. Other competitors within the gas play include large U.S. independents such as Burlington Resources Burlington Resources, is an American oil and gas company. Their headquarters are in Houston, Texas. Based in Houston, Texas, BR has major offices located in Calgary, London, Farmington, Midland and Fort Worth. Oil & Gas Company, EOG Resources EOG Resources NYSE: EOG is a Fortune 600 company based in Houston, Texas. This company is one of the largest independent oil and natural gas companies in the United States. History 1999
Management at Safe ID Corporation has proposed new oil and gas ventures to replace its micro chip importing business. They believe that the near term and long term prospects for energy demand are strong in North America, and that the risks and rewards of oil and gas exploration provide for a timely and sensible use of assets. On Behalf of the Board of Directors SAFE ID CORPORATION Maurizio Forigo President The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from the time to time in the company's reports filed with the Securities and Exchange Commission. |
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