EXP to join the Solana syndicate in California
EXP Resources Ltd EXP
Shares issued 19,831,813 Nov 12 close $0.22
Mon 15 Nov 99 News Release
Also Solana Petroleum Corp (SOP)
Mr. Clifford James reports
The company has entered into a letter of intent to acquire, for $375,000
(U.S.) or $550,000 (Canadian), in cash, a 25-per-cent interest in the
Solana California Gas Exploration Syndicate (Solana syndicate) formed to
drill an exploratory gas well in the Cal Canal region of Kern County,
Calif.
Consummation of the purchase transaction is subject to completion of due
diligence by EXP, the execution and delivery of a mutually satisfactory
purchase and sale agreement, the approval of the board of directors of EXP,
receipt of all required approvals of the Alberta Stock Exchange and other
regulatory bodies, and completion of EXP's recently announced private
placement of four million units at 15 cents ($600,000).
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