ALL: part 2 of 3:
<<NPEC Personnel>>
Les Price. What are the names of the companies he has work for in the past?
Malcolm Fraser. What is his education and experience in mining geology?
Larry Regis. What is his background and what other companies is he involved with?
LES: Updated resumes being prepared.
Who is I. Dow and what is his involvement with NPEC and MXR?
LES: Ian ia a past director of MXR ans a contract employee of NPEC
Who are the members of the Board of Directors?
LES: Larry Regis, ??? Ginn, Les Price
How many people are employed directly by NPEC?
LES: requires definition of "directly" (i.e.) sub companies, contractors, etc.?
<<Share Information>>
How many Preferred Shares have been issued and are still outstanding?
What is the name, address, and phone number of the registrar of the
preferred share issue?
Who holds the Preferred shares, how many, and when must they be converted.
How many Reg. S shares have been issued, when were they issued.
Who were they issued to and for what purpose.
How many Reg S. shares have been converted.
We are now at about 62,000,000 common shares, beyond the initial offering,
What were these shares issued for specifically the ones in August, September.
and December.
LES: To be provided in written form [I assume this means it will be
printed form]
<<Ecuadorian Oil>>
Can you give us some background on how NPEC was able to acquire the
interest in this property?
LES: A personal contact of mine over the last 15 years, a large
shareholder of NPEC, introduced the project to us. Several of his companies
have partnered projects throughout the world with the Dr. We signed
a representation agreement with his consulting firm to acquire the
interest.
What did it cost and how was it financed?
LES: The cost of the project, initially, is 15% of $36,000,000
or $5.4M. This amount is payable in stages over 4 years as
development continues. The latter off shore development is estimated
at a further $20M, our share of which is 15%, or 3M. This is a
massive project encompassing in excess of 300,000 acres. The
development could well exceed the above estimates. The initial
investment of $2M as called for in the contract was provided
by means of construction loans.
Was the $239,000 mentioned in a previous news release in the form of
cash or was it credited to pay off the purchase?
LES: The process involves cash credits from production and cash calls
for development. These two figures will be tallied each quarter, offset
and the net remitted.
What was the income from August, September, October, and November?
LES: See cover letter re: disclosure [this will be posted in my
next segmant]
What is the estimated income for 1997? 1998? ...
LES: Full estimated revenues for the next 10 years are in documented form
for your inspection.
<<Metoplus Communication>>
How was the is property financed.
LES: Share capital agreements in exchange for shares of MetroPlus.
What have been the revenues/profits for the latest quarter/year.
LES: Net income to June 30/96 exceeded $30,000. December 31/96
financials presently underway.
Who is managing the company.
LES: Contract 5 Years, in place with one of the previous owners
to manage the company.
<<Melrose Mining Company>>
In addition to the properties listed in the July news release:
Rocky Creek, Charleston, leftface, rightface, and Mineral Mt, are
there any other mines involved in this purchase.
LES: Several other properties to complete the package are under
negotiation.
When will the mines start producing?
LES: Scheduled for late Summer/Fall '97
What are the estimated reserves?
What is the expected recovery cost?
LES: Undetermined at this time.
<<Utah Oil Wells>>
Do we still own any oil wells in Utah?
LES: YES. Cisco Dome Gas Field and Lion Mesa Oil Field
If so, where are they and how much are they producing.
Les: At present, only sufficient to meet capital and operating
cost. New operator (June 1996) is reworking field to increase
and maximize production.
<<Indonesia (Kilamantan) Property>>
What is the current status of this property.
LES: Field work underway.
Apparently we had the option of taking a finders fee ($) or a share
of the property. What was the value of the finder's fee?
LES: NO - we own a 20% working interest, free for the first $500,000
of expenditure, contributory thereafter.
<<Chilean Copper - Mina Milgrosso, Mina Claudia
Chilean Gold - Andacolla Property>>
Can you give us some background on how NPEC was able to acquire the
interest in this property?
What did it cost and how was it financed?
What is the schedule for production in 1997?
What are the estimated reserves?
What is the expected recovery cost?
LES: We acquired the property through contracted services of a
Chilean engineer, who we met through acquaintances of Ian Dow,
who had purchased several other properties through the same source.
The balance of the requests above require many hours of discussion. |
