CORP. / Framfield Oil & Gas report Investment Interests
CALGARY, March 16 /CNW/ - Framfield Oil & Gas Ltd. (''Framifield''), Mr.
J. Gary Ibbotson and 765888 Alberta Ltd. wish to jointly announce their
combined interests in BRIGADIER ENERGY INC. (ASE:BGR) (''Brigadier'') and
DRAIG ENERGY INC. (ASE:DRA) (''Draig''). On February 20, 1998, Framfleld
announced its investments in Brigadier and Draig and it also wishes to
announce its association with Mr. Ibbotson and a private company controlled by
him, 765888 Alberta Ltd., who also have ownership interests in Brigadier and
Draig. This association arises from the fact that 765888 Alberta Ltd. is a
minority shareholder of Framfield.
Framfield has previously announced its ownership of 1,500,001 Brigadier
common shares and 333,334 Brigadier warrants and the ownership of its
associate, Macon Resources Inc. (''Macon''), of 1,512,349 Brigadier shares and
333,334 warrants. On September 19, 1997, Mr. Ibbotson purchased 1,666,667
Brigadier shares on a flow through private placement. Mr. Ibbotson also
controls 490,591 Brigadier shares through 765888 Alberta Ltd. Therefore Mr.
Ibbotson currently beneficially owns or controls 2,157,258 Brigadier common
shares. The aggregate number of Brigadier securities beneficially owned or
controlled by Framfield and its associates, Macon, Mr. Ibbotson and 765888
Alberta Ltd., equals 5,836,276 Brigadier securities including Framfield's and
Macon's warrants.
Framfield has also previously announced its ownership of 915,101 Draig
common shares and 181,667 Draig warrants and Macon's ownership of 698,500
Draig shares and 181,667 warrants. In addition as a result of a flow through
private placement purchase on September 19, 1997, 765888 Alberta Ltd. owns
1,666,667 Draig shares. Accordingly the aggregate number of Draig securities
owned by Framfield and its associates, Macon and 765888 Alberta Ltd., equals
3,643,602 Draig securities including Framfield's and Macon's warrants.
The investments by Framfield, Mr. Ibbotson and 765888 Alberta Ltd. in the
securities of Brigadier and Draig have been made for long term investment
purposes only. Whether or not either of them will purchase any further shares
of Brigadier or Draig will depend on the prevailing market prices of such
shares. |
