Ambra Resources Group Inc. Announces Income From
Cessford, Alberta Joint Venture Gas Sales
VANCOUVER, BRITISH COLUMBIA--Ambra Resources Group Inc.
(OTCBB:ABRG) announces gas sales to the end of October 2000.
November figures to be released soon. Gas Sales from the 16
producing Wells at the end of October are illustrated
below. We are pleased that the revenue flow has started.
AMBRA 5.8% SHARES OF (Sales to October 31, 2000)
YEAR TO DATE NET SALES (Cubic Feet of Gas)
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$ $
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1. 1,722 9. 2,995
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2. 2,968 10. 2,259
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3. 24,005 11. 70
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4. 4,976 12. 3,628
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5. 89 13. 804
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6. 3,757 14. 15,121
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7. 10,400 15. 57
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8. 384 16. 2,378
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TOTAL -- 75,612
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(a) These figures are approximate and will be adjusted
monthly depending upon actual production cost.
Ambra is going to convert these funds into further
production cost for the project as additional Wells are
being hooked up. 2001 will show increased revenue as more
Wells are completed and sales begin.
The Operator announced it was completing 43 Wells in the
2000 work program and has initiated start -- up of its own
gas processing plant. This will allow for 20 million cubic
feet of gas per day through its own facilities when
completed in March of this Year. A massive number of new
Wells are also planned for the 2001 work program. This is
a major investment and will have great shareholder value
for Ambra Resources Group Inc.
By the Board of Directors, Ambra Resources Group Inc.
John M. Hickey
President
FOR FURTHER INFORMATION PLEASE CONTACT:
Ambra Resources Group Inc., Vancouver
John M. Hickey
Investor Relations
(800) 698-3377 or (604) 669-2723
ambraresources.com |
