Epic EAS.v (formerly Epic ERB.v and Safari SIR.v) Message Board

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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)

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To: JR. who wrote (3334)	12/15/2001 11:50:12 AM
From: JR.	of 3335

Just when its quiet there is some news! Epic's Birch Bay gas storage project agreement ended Epic Oil and Gas Ltd EAS Shares issued 19,021,706 Dec 11 close $0.06 Thu 13 Dec 2001 News Release Mr. Michael Hopley reports AEC Storage and Hub Services Inc., a subsidiary of Alberta Energy Company Ltd., has given notice to Epic Oil and Gas's U.S. subsidiaries Rival Resources, Inc. and American Safari Resources, Inc. (referred to jointly as Rival) to terminate the letter of agreement on the Birch Bay gas storage project in northwest Washington State. In October, 2000, AEC completed a four-mile seismic survey over part of the project area. The results of this work did not meet AEC's expectations and consequently AEC suspended work on the project. In accordance with the terms of the letter of agreement, AEC will pay to Rival a substantial portion of a $50,000 (U.S.) success fee and Rival has assigned to AEC thirty-eight oil and gas mineral leases covering 621 acres in the project area. The AEC decision will not negatively affect progress on Rival's ongoing natural gas exploration program in the same general area of Washington State; in fact, the receipt of the success fee will assist Rival's work. Results of recently completed programs in the area are very encouraging and the company is on schedule to drill some of the best shallow natural gas targets this winter. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com Looks like they will be able to buy a section or two of land depending on current prices. I can't get excited about this piece of news. Cheers, JR.

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