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Gold/Mining/Energy : Shamrock Resoures Inc. shj.v
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To: bcjt who wrote (22)11/10/1999 6:52:00 PM
From: bcjt  Read Replies (1) of 34
 
Shamrock to acquire interest in California prospect

Shamrock Resources Inc SHJ
Shares issued 11,061,200 Nov 9 close $0.44
Wed 10 Nov 99 News Release
Mr. Robert Brady reports
The company has entered into a letter of intent, dated Nov. 1, 1999, with
R&R Resources LLC. The parties intend to enter into an agreement whereby
the company will acquire R&R's 55-per-cent interest in the Lost Hills
shallow-depth and medium-depth reserves, and a 20-per-cent interest in the
Lost Hills temblor prospect in Kern County, Calif. (collectively, the R&R
properties). The value of the R&R properties will be determined in a
valuation report which will be prepared by Sproule International Limited.
>From the date of the execution of the letter of intent until execution of a
formal agreement, the parties agree not to entertain or seek other offers
from third parties that would present, hinder or have an adverse effect on
this planned arrangement.
The proposed acquisition of the R&R properties is subject to: receipt of
the valuation report satisfactory to both the company and R&R; the parties
entering into a formal binding agreement; the purchase price including both
cash and shares in the company; and regulatory approval.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

bcjt
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