CORP. / Framfield buys more Draig
Framfield Oil & Gas Ltd.
CALGARY, Nov. 3 /CNW/ - Framfield Oil & Gas Ltd. (''Framfield'') and
Macon Resources Ltd. (''Macon'') wish to jointly announce additional
acquisitions of common shares of DRAIG ENERGY INC. (ASE:DRA)(''Draig''). Since
March 16, 1998, Framfield has purchased an aggregate total of 168,600 common
shares of Draig and Macon has purchased 2,000 common shares of Draig. These
acquisitions were all made publicly through the facilities of The Alberta
Stock Exchange, for long-term investment purposes only.
Following these acquisitions, Framfield currently holds 1,083,701 common
shares of Draig plus 181,667 share purchase warrants; Macon currently holds
700,500 common shares of Draig plus 181,667 share purchase warrants, and
765888 Alberta Ltd., a company associated with Framfield, continues to hold
1,666,667 common shares of Draig.
Framfield, Macon and 765888 Alberta Ltd. are parties which act jointly or
in concert with respect to investments in Draig. Whether any of them will
purchase any further shares of Draig will depend on the prevailing market
prices of such shares.
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For further information: Christina M. Fehr, Framfield Oil & Gas Ltd.,
(403) 263-5355
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