Jersey Petroleum -JPI (was Jersey Goldfields -JRG) Message Board

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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)

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To: burner who wrote ()	4/30/1998 5:29:00 PM
From: TomKing	Read Replies (1) of 100

News Release:Grantham proceedings stayed in Alberta April 28, 1998. Jersey Petroleum Inc., formerly known as Jersey Goldfields Corporation (the "Company") annouces that the legal that Grantham Resources Ltd. ("Grantham") commenced against it and Cominecsa Compania Minera Ecuatorian S.A. ("Cominesca") has been stayed by the Alberta Court of Queen's Bench. Accordingly, Grantham must commence action in British Columbia should it decide to claim damages against the Company for representations that it made regarding the title and ownership of the Peltetec resource property in Ecuador. The Company is of the view that these claims are wholly unfounded and will vigorously defend any action commenced against it with respect thereto. As of the date hereof, no such action has been commenced. On behalf of the Board, "James E. Yates" President

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