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Gold/Mining/Energy : Bomax Resources - BXS.VSE
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To: Leigh McBain who wrote ()8/18/1998 3:11:00 PM
From: Leigh McBain  Read Replies (1) of 313
 
Well the news sucks, but what can you do? We'll see what comes out of the woodwork, there were also some gold properties that were supposed to have potential, but they had intended on discussing those after the O&G got to put to bed. I guess we'll see what happens. Here is a copy of the news release.

Salut,
Leigh McBain

BOMAX RESOURCE CORP. ("BXS-V;BXRCF-L") - Correspondence Received From Independent Consulting Petroleum - Engineer

Bomax Resource Corp. (the "Company") has now received correspondence from the independent consulting petroleum engineer relating to the oil and gas property located in the Republic of Kazakhstan. The engineer was only able to evaluate proved recoverable reserves of 384,000 tonnes on the Chingiz-Telsu Field. This relates to approximately 2,700,000 BBLs and is far less than Weskaz Oil and Gas Ltd. (the Vendor) was led to believe. Weskaz continues to evaluate other possible assets in the Republic of Kazakhstan for Bomax.

As a result of this disappointing find, the Company will not proceed with the proposed Private Placement and shares for debt as indicated in a News Release dated July 6, 1998.

TEL: (604) 669-5650 James Bond, President FAX: (604) 685-6341

______________________________________
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