RRN - NEWS RELEASE
Roper Resources Inc RRN
Shares issued 13,484,300
1998-04-20 close $0.21
Wednesday Apr 22 1998
Mr Richard Watson reports
The company and Safe Environment Engineering have satisfactorily completed their
initial mutual due diligence. A second phase of negotiations has commenced. Roper
Resources has deposited, in trust, the sum of US$50,000 with the law offices of
MacDonald, Altman, Sager of Toronto. With this deposit, Roper obtains the exclusive
right to negotiate a relationship with Safe Environment Engineering. The parties are at
arm's-length and have agreed to determine and define such a relationship by May 29
1998. If circumstances warrant, this date may be extended by mutual agreement. It is
Roper's intent that the outcome of the negotiations will result in an agreement where
Roper will acquire a significant interest in Safe Environment Engineering. The agreement
reached to date is non-binding and there are no guarantees that the outcome of
negotiations will result in an interest being acquired. Safe Environment Engineering, a
California Limited Partnership, is headquartered in Valencia, California, 25 miles north
of downtown Los Angeles. The company develops and supplies communications
systems, which integrate wireless telemetry and voice communication to transmit
information. The company uses this technology in its patented Life-line system, which, in
one version, enables monitoring of entrants into confined spaces or hazardous locations;
and, in another configuration, monitors security personnel on patrol rounds. The
products of Safe Environment Engineering meet the strictest standards and requirements
of various national and international regulatory bodies including CSA, UL, and
FEDOSHA relating to confined spaces. Existing installations of the Life-line system are
at the Northrop Grumman facility, Palmdale, California; Tinker Air Force Base, Del
City, Oklahoma; Pearl Harbor Naval Shipyard, Honolulu, Hawaii; and Hill Air Force
Base in Layton, Utah. Recently, StarEnterprise of Beaumont, Texas acquired the
Life-line system on the basis of a short-term rental. The system was used to monitor the
safety of oil refinery personnel throughout the duration of a major maintenance
shutdown. Safe Environment expects this rental to be the first example of a significant
marketplace within the oil refinery business. Production is well under way to fill a
recently placed order received from the The Boeing Company of Seattle, Washington,
for employment in its aircraft manufacturing facility in Everett, Washington. (c) Copyright
1998 Canjex Publishing Ltd. canada-stockwatch.com |
