' DiamondWorks subsidiary's crude oil contract extended
DiamondWorks Ltd (2) DMW
Shares issued 65,884,465 May 27 2003 close $ 1.46
Wednesday May 28 2003 News Release
Mr. Rob Rainey reports
DIAMONDWORKS LTD. - RENEWAL OF ZAMBIAN CRUDE OIL CONTRACT
The contract to supply crude oil to Zambia, which expired on May 15, 2003, has been extended.
DiamondWorks wholly owned subsidiary, Trans Sahara Trading (IOM) Limited (TST), has received confirmation from the office of the vice-president of Zambia that the crude oil supply agreement has been extended for a further 450,000 metric tons of crude oil. The authorization is currently going through the requisite administrative procedures in Zambia. The stock currently in the system, together with the 450,000-ton extension, is anticipated to be sufficient for the country's total consumption until October, 2004. TST is currently in negotiations to increase the contract from 450,000 tons to 900,000 tons of crude oil.
The first 70,000 tons, currently on-board the vessel Ruby 3, is awaiting discharge.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
(c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com '
... highly significant news, this .... gee i wish they'd get that stupid website up and running, they've got a story to tell, and nowadays that's how you tell a story - diamondworks.com ... 'under construction' for months now ...... well, will the share make a new 52-week high before the AGM on Friday? ... we shall see, seems reasonable though, on today's news |
