Golden Arch Resources---GAI.V Message Board

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Gold/Mining/Energy : Golden Arch Resources---GAI.V

GAI 8.800

0.0%

Mar 22 5:00 PM EST

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To: Hugh Smith who wrote (68)	4/11/1997 10:41:00 AM
From: Oak Man.	of 359

Hugh: This news release was not put out by Golden Arch and Silver Peak. The Williston Basin Joint Venture was announced last year (May 1, 1996) with all the details. Since this is considered a major transaction in the eyes of the Vancouver Stock Exchange we have to submit all details for their approval. They took their time to review the matter and accepted the transaction. $4,000,000 will be spent between GAI and SVV to develope this project of which approx. $2,000,000 US has been spent already. A 25% interest for each company in what we believe to be about 15,000,000 barrels of oil will be enough to generate plenty of cash flow to keep growing. The Vancouver Stock Exchange had put out the news release and it got diseminate to all news groups including Canada Stockwatch. News releases are released to report material changes in companies affairs not for promotional purposes. Hope that clears the air for you. Dave Oak Management oak@bc.sympatico.ca

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