NEWS! It looks like Epic is about to begin an exploration program.Just got this news release from
Canada Stockwatch.
Epic Oil to sell interest in Bellingham basin to Ivory
Epic Oil and Gas Ltd
EAS
Shares issued 18,731,706 Jul 19
close $0.09
Fri 20 Jul 2001
Miscellaneous
Also Ivory Oils & Minerals Inc (IVY)
The Canadian Venture Exchange has accepted for filing a joint
venture
agreement dated June 25, 2001, between Epic Oil and Gas Ltd.,
and Ivory
Oils & Minerals Inc. Epic will receive up to $500,000 (U.S.) from
Ivory to
acquire land and conduct exploration work in search for
commercial
quantities of natural gas in the Bellingham basin (exploration
area) of
northwest Washington State. Upon receipt of $125,000 (U.S.),
Ivory will
earn 12.5-per-cent interest in the exploration area. At the
option of
Ivory, an additional 25-per-cent interest can be earned in the
exploration
area if Ivory will finance $250,000 (U.S.) of exploration work
in the
exploration area. Epic has also agreed to issue a convertible
debenture to
Ivory for $125,000 (U.S.), convertible at 10 cents per share after
March
31, 2002, but prior to July 1, 2002. If Ivory converts the
debenture to
shares of Epic, Ivory will earn another 12.5 per cent for a
total of
50-per-cent interest of the exploration area.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com |
