Hi Bearcatbob:BKR NEWS
BERKSHIRE INTERNATIONAL MINING LTD. (CDNX : V.BKR)
Receives Authority For Expenditure from Tri-Valley
via CDS
Nov 1, 2000 11:59:30 AM
Paul Larkin, President of Berkshire International Mining Limited
reports:
The Company wishes to report that it has received an Authority for
Expenditure (AFE) and cash call from Tri-Valley Oil and Gas Co. (TVOG),
operator of the EKHO Project, to carry out a second data frac, a mini frac
and a final frac on the EKHO No.1 for a gross cost to the EKHO Participants
of $2,000,000 U. S.
Upon receipt of the AFE the Company requested TVOG provide a detailed
report, to collaborate the potential of the EKHO No.1 and to provide
sufficient information to allow the Board of the Company to determine
whether our continued involvement in the EKHO No.1 was feasible, and if a
financing could be completed within the time parameters stipulated. TVOG
has not provided a report at this time.
Subsequent to our letter to TVOG we received notice from TVOG advising
the Company that as we had not provided a positive consent to the AFE, in
writing, by the 48 hour deadline of October 23rd, 2000, that we had no
further working interest in the project. The Company intends to follow up
and review continuing developments on the EKHO Project.
As an ongoing initiative, the Company will continue to search for new
asset acquisitions.
CONTACT: TEL: (604) 687-7767 Berkshire International Mining Ltd
FAX: (604) 688-9895
EMAIL: berkshire@bed-rock.com
INET : www.ekhoproject.com |
