INSIDER TRADING / Chairman of Mercantile International Petroleum
NASSAU, Bahamas, April 27 /CNW/ - Jeffrey M. Waterous, Chairman of
Mercantile International Petroleum Inc. announced the purchase of 1,659,000
common shares of Mercantile on The Toronto Stock Exchange. Together with his
previous holdings of common shares, and assuming the exercise of his warrants
and options, Mr. Waterous would hold 8,396,355 common shares (approximately
18.58%) of the then outstanding common shares of Mercantile, assuming no other
options or warrants were exercised. Mr. Waterous now holds 5,717,785 shares of
Mercantile which is 13.45% of the currently outstanding 42,521,442 shares of
Mercantile.
Mr. Waterous may acquire additional securities of Mercantile in the
market at any time.
Mercantile is an ''oil exploitation company'' with interests in Peru,
Colombia and Myanmar. The company continues to look for international on-shore
properties where the application of leading edge technologies will allow the
company to recover more oil. Mercantile's common shares are listed on the
Toronto Stock Exchange and traded under the symbol MPT.U., while its
debentures are listed on the Winnipeg Stock Exchange. |
