TransAtlantic Petroleum Corp (TNP.U - was Profco) Message Board

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Gold/Mining/Energy : TransAtlantic Petroleum Corp (TNP.U - was Profco)

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To: Bill Shugarue who wrote (102)	11/14/1997 9:34:00 AM
From: bob bundy	of 270

PSO-T : Trans Coatal Share Purchase Agreement With BBFI Benin and Profco Symbol: PSO U/POFRF 14Nov97 Market News Publishing Inc. 97/11/14 No:0005 TRANS COASTAL INDUSTRIES INC ("TCJ-Y") PROfCO RESOURCES LTD ("PSO-T;POFRF-L") - Trans Coatal Share Purchase Agreement With BBFI Benin and Profco James Owen of Trans Coastal Industries Inc. (the "Corporation") announces that, subject to filing final materials with The Alberta Stock Exchange (the "Exchange"), the Exchange has accepted notice of two recently announced transactions, and has provided conditional approval for two previously announced private placements. The Corporation also announces that the shareholders have approved by special resolution a sale of the Corporation's interest in CB Research International Corporation. The Corporation has entered into a Share Purchase and Participation Agreement with BBFI Benin Ltd. and Profco Resources Ltd. pursuant to which the Corporation has agreed to acquire 7.5 percent of the issued and outstanding shares of Tarpon-Benin S.A., a company incorporated in the Republic of Benin. Profco, as operator, is currently drilling a well offshore Benin in which Tarpon-Benin S.A. is participating. On November 10, 1997, Profco announced that the well has been drilled to 9,060 feet total depth, that the well has been logged, sidewall cores obtained and that it was proceeding with casing the well to total depth and preparation for testing. The Corporation's share of drilling costs of this well is expected to be approximately $1,000,000. TEL: (604) 684-9201 Trans Coastal Industries Inc. James Owen ______________________________________ (c) Market News Publishing Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041. Not sure when will be called back for trading.

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