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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9983)4/7/1998 7:23:00 PM
From: Arnie   of 15196
 
ACQUISITION / Ridel Resources reports Major Property Transaction

The Vancouver Stock Exchange has accepted for filing documentation pertaining
to a Letter Agreement dated August 21, 1997 and amended January 28, 1998,
pursuant to which the Company will acquire 100% of the issued and outstanding
shares of Asia Pacific Energy Co. Ltd. (IAPECI). APEC has been awarded a
performance compensation contract with the Myanmar Oil and Gas Enterprise
relating to the development of the Htaukshabin and Kanni oil fields, and the
Peppi gas field in Myanmar. In consideration, the Company will fund
US$3,000,000 in work commitments for the properties, and issue 15 million
common shares to APEC at a deemed price of $1.00.
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