ABRG release that has not hit wires yet. Shareholders calling now to get it out immediately:
ABRG release that has not hit wires yet. Shareholders calling company
now to get it out today:
Here is the June 15th release not on the business wires?
I told the President this wasn't out on the newswires, he thought it
was. If you call him, tell him it just isn't there.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
VANCOUVER, B.C. CANADA - JUNE 15, 1998 - publicly traded AMBRA
RESOURCES GROUP INC. symbol ABRG.BB would like to announce:
AMBRA RESOURCES CONSOLIDATES ALBERTA AND MONTANA GAS
LEASES!
Ambra's Petroleum Division has formed the Amex Joint Venture (Amex) with
Starrock Resources Ltd. of Canada to explore and to develop potential
and proven
Oil and Natural Gas Reserves on large land holdings in Alberta and
Montana on
Two Major Projects:
1. The Amex Joint Venture has 20,740 net acres leased in
the Cessford Area of Alberta, which contains proven and
probable Gas Reserves that have been evaluated by Citidal
Engineering of Calgary to be a total Value of
$45,294,000.00.
2. The Amex Joint Venture has also leased 25,795 net acres in
Montana as a result of the extensive field studies involving the
Exploration Techniques developed by Starrock Resources Inc.
The Cessford and Montana projects fit together very well in that
Cessford will in all
likelihood produce solid revenues for the partners of Amex, while
Montana provides
an upside potential that is phenomenal.
Ambra Resources Group Inc. has already participated with AMEX on the
following
Wells:
1.Well 6-6-25-7: Ambra has paid $17,626.13 of the cost of drilling and
completing this
well for a 5% Working Interest.
2.Well 15-27-24-8: Ambra has paid $8,547.20 of the cost of drilling and
completing this
well for a 5% Working Interest.
3.Well 6-21-25-8: Ambra has paid $14,089.18 of the cost of drilling and
completing this
well for a 5% Working Interest.
4.Well 10-28-25-8: Ambra has Paid $10,437.60 of the cost of drilling and
completing
this well for a 5% Working Interest.
Table One (1) summarizes the estimated Net production Revenue and
Capital Cost
for the Cessford and Montana Projects combined on a 100% Amex
Participation basis.
Table Two (2) summarizes the 5% Ambra Resources Group Inc.
participation.
Please note that the Capital costs shown for the Montana project from
the year 2000
are for development drilling and would only be incurred if substantial
reserves were
discovered in 1998 and 1999 during the exploration phase of the project.
Also please note the 15% discounted present worth of the Net Total Cash
Position
for the 100% of the Amex Joint Venture is $572,525,000.00.
Further note the 15% Discounted Present Worth of the Net Total Cash
Position for
Ambra Resources Group's 5% Interest is $28,626,000.00.
Ambra is very pleased with the progress of the AMEX Joint Venture so
far. It looks
very promising for Ambra Resources Group Petroleum Division. For more
information or interested parties are invited to contact us directly at
1 (800)
698-3377 or visit our Web Site at www.ambraresources.com
By the Board of Directors
AMBRA RESOURCES GROUP INC.
John M. Hickey
President
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Rollin' Rollin' Rollin'...RAWHIDE
-DavidCG
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