CDN. Oil/Gas Cos. - Shareholder Maximization Message Board

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Gold/Mining/Energy : CDN. Oil/Gas Cos. - Shareholder Maximization

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To: Richard Saunders who started this subject	3/18/2001 5:34:46 PM
From: Richard Saunders	of 56

private Action Energy newswire.ca CALGARY, Jan. 31 /CNW/ - Given the drilling success and recent interest in the company, Roger Tang, President and CEO of Action Energy Corporation ("Action"), a private Calgary based natural gas production company, announced today that its Board of Directors has unanimously approved the initiation of a process intended to maximize shareholder value. Action has retained Waterous & Co. ("Waterous") of Calgary, Alberta as its and exclusive financial advisor and agent for this process. Action was founded in 1998 and has gas production concentrated in three areas of Alberta. Two major operated gas fields are located in the Rattlesnake and Bindloss areas of southeastern Alberta, producing approximately 3,700 Mcf/day gas sales net to Action. Both of these properties are at an early stage of development and there is considerable scope for additional drilling. Also included is the Therien gas property in east central Alberta where Action has a 25% working interest and approximately 700 Mcf/day net production.

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