ABRG News Out, Stock Up 14.5%
Wednesday June 17, 11:02 am Eastern Time
Company Press Release
Undervalued Company has Phenomenal Upside Potential
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 17,
1998--
Ambra Resources Group Inc.
Symbol: ABRG
Recent Share Price: $ .06 (six cents)
Trades on NASDAQ Bulletin Board
Fully Diluted: 26 million shares
Summary: NEWS TODAY. June 17, 1998. Ambra Resources
Group Announces Amex Joint Venture Valuations $28
Million+ ongoing exploration and drilling of defined oil & gas
targets.
Opinion: Ambra Resources has more value and potential than shell
companies that are trading at $ .25 to $.30 Canadian.
Experienced management has built Ambra into a serious
exploration company with solid projects in oil, gas and precious
metals.
Amex JV: Amex Joint Venture with ten companies. Ambra's share
valued over $28 Million
1) Oil/Gas Project of 20,740 acres in the Cessford area of
Alberta, Canada.
2) Oil/Gas Project of 25,795 acres in Montana, USA.
Project Information: Ambra Resources has formed the Amex Joint
Venture with Starrock Resources to explore and
develop potential and proven oil and natural gas reserves on large
land holdings in Alberta and Montana. The Alberta
property's present worth is $572,525,000 as valued by Citidal
Engineering of Calgary. Ambra's 5% interest would be
$28,626,000. Well work-overs and new drilling is ongoing.
Increased production or a new discovery will dramatically
impact Ambra's revenues. The Company believes the Amex JV
will be highly successful since they are drilling known
reserves.
Other Ambra Projects:
Paula Gold Vein system exploration, Vancouver Island, B.C.
Vancouver Island Platinum and Palladium exploration program.
Beaufort Sea Oil Project JV with major exploration and
production
companies.
For additional information contact: John Hickey at
1-800-698-3377.
Ambra Resources Group invites you to learn more about its
projects at the new WEB Site address:
www.ambraresources.com
Contact:
John Hickey, 800-698-3377 |
