Navasota NAV The Helium Co. A Stock lighter than Air Message Board

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Gold/Mining/Energy : Navasota NAV The Helium Co. A Stock lighter than Air

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To: David Michaud who wrote ()	6/30/1999 7:39:00 PM
From: David Michaud	of 59

The company's wholly owned subsidiary, Nirvana Valve Systems Inc., has accepted an offer to purchase the company's working interests in the Diebel unit, Berclair prospect, Goliad County, Texas from Texaco Exploration and Production Inc. The price offered and accepted is $80,000 (U.S.). The closing occurred and a cheque paying the entire amount has been received. Navasota's decision to realize in its investment immediately was made after consideration of the fact that the production volumes of these wells are depleting relatively rapidly and that there is insufficient history for this type of production to predict when the decline may slow. Another significant deciding factor is that the company considers that the funds can be better used if applied to accelerate its Montana Williston Basin project and/or to provide capital to further diversify into new plays. A portion of the funds realized will be used to pay current and continuing costs of operating the company, including actions to find the most suitable partners for participation in the company's large and advanced Williston Basin play.

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