SUMMARIES OF PAST NEWS RELEASES
3/29/96 Acquisition of Melrose Mine Propery Stevens Country- Washington State
An agreement was reached whereby NPEC Energy pursuant to joint venture agreement, aquired the right to earn a 66% interest in the Melrose Mine
Property consisting of patented Crown grants and mining leases. The agreement calls for an intitial cash payment of
$30,000.00, a first year minimum development expenditure of $150,000 and the issuance of 1,000,000 treasury shares of NP Energy.
4/17/96 Update on Melrose Mine Property Stevens Country- Washington State
Management reported that the initial $30,000 payment had been made.
This initiated a 66% interest in and to about 2000 acres of paented land, crown grants and mining leases.
5/20/96 Aquisitions of telecommunications Company
NP Energy announced the acquisition of Metroplus Communications Corporation, a private British Columbia, Canada Company.
The aquisition was by way of share exchange agreement in which NP Energy would acquire 100% of the outstanding shares of the
private company.
Metroplus provides local calling service to over 2,500 customers in the lower mainland of Vancouver, British Columbia.
6/11/96 Agreement on Oil Field Acquisition
Agreement in principle was reached on acquisition of a major oil field in South America. Property cosists of 300,000 acres of
a number of producing oil wells, facilities, and a gas plant.
7/12/96 NP ENERGY expands telecommunications service
NP Energy Corporation's wholly owned subsidiary Metroplus has implemented the first of several expansion plans. Operations
in Vancouver will be increasing starting July 15, 1996 to reach over
500,000 households. Unaudited net earnings for Metroplus during the first six months exceeded $34,000.
7/19/96 Oil Agreement Signed
NP energy participates in a consortium of comapnies from South AMerica, Canada and the United States. This is subject to
NP ENERgy completing due diligence. Effective date is to be 7/1/96, with agreements to be
formalized on or before 8/6/96.
7/23/96 OIl Report Nearing COmpletion/Copper project Negotiations
Oil acqusitions due diligence should be completed this week. NP enetered into negotiations
to aquire a significant interest in copper/gold property in Chile.
I believe this brings the news to date. Check out biz.yahoo.com |
