FUNDS - MISC. / Additional Purchase Of Draig Energy Shares By Framfield
Oil & Gas Ltd.
CALGARY, Dec. 15 /CNW/ - Framfield Oil & Gas Ltd. (''Framfield'') wishes
to announce additional acquisitions of common shares of DRAIG ENERGY INC.
(ASE:DRA) (''Draig''). Since November 3, 1998, Framfield has purchased an
aggregate total of 221,200 common shares of Draig. 21,200 shares of these
acquisitions were made publicly through the facilities of The Alberta Stock
Exchange and 200,000 shares were acquired through exercise of share purchase
warrants, for long-term investment purposes only.
Following these acquisitions, Framfield currently holds 1,304,901 common
shares of Draig and nil share purchase warrants. Macon Resources Ltd.
(''Macon''), a company associated with Framfield, currently holds 700,500
common shares of Draig plus 163,334 share purchase warrants, and 765888
Alberta Ltd. (''765888''), another company associated with Framfield,
continues to hold 1,666,667 common shares of Draig.
Framfield, Macon and 765888 Alberta Ltd. are parties which act jointly or
in concert with respect to investments in Draig. Whether any of them will
purchase any further shares of Draig will depend on the prevailing market
prices of such shares. |
