RESEARCH INVESTMENTS CORP ANNOUNCES
ROCCA RESOURCES ACQUIRES WORLD-CLASS OIL SHALE & BENTONITE PROPERTY IN ARGENTINA !!
ROCCA RESOURCES LTD. ("RRL" on VSE)
Suite 620 475 Howe Street
Vancouver, B.C. V6C 2B3 Canada
Phone: (604) 681 - 1568 Fax: (604) 681 - 8240
website: roccaresources.com
LEONARDO PROPERTY HOSTS LARGE TONNAGES OF MULTIPLE COMMODITIES, ASSURING STABLE CASH FLOW AND PROFITS.
Readily-marketable and highly profitable by-products to be recovered at Leonardo include bentonite (for oil drilling mud), klinker (used in cement manufacturing) and cement clays.
Rocca Resources is cashed-up and ready to begin work upon VSE approval of the acquisition!!
THE LEONARDO OIL SHALE PROJECT
Rocca Resources' 500 hectare Leonardo oil shale property is located approximately 20 miles southwest of the city of Mendoza, Argentina in the foothills of the Andes mountain range.
The Leonardo project was evaluated in the early 1950s by the Universidad Nacional de Cuyuno at the behest of the Argentinian Direction Nacional de la Energia, which selected the Leonardo project as the as most-promising oil shale deposit in Argentina.
The Cuyuno study concentrated on only a small outcropping (265 meters) of the deposit; a resource of 181,260 tonnes of oil-bearing beds was estimated, based on an average thickness of just 7.6 meters. More-recent work by RRL suggests that the beds may be repeated due to folding and / or faulting, and that the true thickness of the deposit may be on the order of 50 meters.
Work conducted by Rocca Resources in late 1998 indicates that the Leonardo oil shale project is far larger in size than was previously identified. The host beds have been shown to extend for at least 4 kilometers to the west of the discovery outcrop, and a minimum of 500 meters to the east (possibly further). Field work to date indicates that the entire deposit is continuous, and that there are no fault offsets to the host units.
The ultimate resource potential of the Leonardo oil shale project is estimated at 186 million tonnes of oil-bearing shales, with an additional 23 million tonnes of bentonite and 40 million tonnes of cement clays.
The primary products to be recovered from the Leonardo oil shales are: butane gas, naptha, toluene, lightweight lubricating oils plus heavy oils. RRL will also be investigating the feasibility of using the excess heat (produced from processing the oil shales) to produce electricity.
Sedimentary sections between the oil-bearing shales contain inter-bedded bentonite and cement-type clays. The bentonite is in strong demand for local well-drilling and filtering markets, and the cement shales (along with clinker ash which would be produced in the course of processing the ores) are of value to the cement industry. There is a strong market in the Mendoza area for cement klinker - plants are currently paying about US$35/MT. The bentonite markets are also strong locally, nationally and for export to Brazil, with prices running at US$80, US$100 and US$150 per tonne, respectively.
An independent geologic report on the Leonardo oil shale property can be viewed at: roccaresources.com
SHARE STRUCTURE & TRADING PRICES (as of February 11, 1999)
Shares Outstanding: 3,430,000 52-week High: C$0.59
Warrants: 520,000 52-week Low: C$0.17
Free-Trading Shares: 1,008,000 Current Price: C$0.37
RECENT FINANCINGS HAVE CASHED-UP THE COMPANY
Rocca Resources has been very successful at raising capital in a depressed market.
A private placement of 1,000,000 units @ C$0.15 announced in late November has been approved by the VSE, and will close shortly. In January, RRL took advantage of higher share prices to raise an additional C$100,000 in working capital @ C$0.36 per unit.
RRL has the funds in place to begin development work on the Leonardo project just as soon as the VSE approves the acquisition.
WHAT'S NEXT ??
Rocca Resources anticipates receiving VSE approval for its Leonardo oil shale property acquisition by mid-February. With money in the bank, investors are assured that work will begin immediately.
Rocca, a true exploration company, is always searching for new and exciting projects. We understand that management has two new property acquisitions in the works, and that the deals should be announced shortly. These projects - a silver deposit, plus a large gold-copper property, will give RRL excellent commodity diversification, not to mention a steady stream of exciting news in the months to come.
RRL has acquired a world-class oil shale property on very favorable terms. The Leonardo mine could be profitably developed and operated even at today's depressed oil prices.
The hidden upside (and real money-maker) to this project is in the bentonite - a commodity very much in demand for oil and gas drilling in Argentina and Brazil.
Independent reports estimate that the Leonardo project hosts an potential bentonite resource of 23 million tonnes. Bentonite currently sells for US$85 - US$100 / MT in Argentina, while exports to Brazil are priced in the range of US$150/MT.
With cash in the till, a world-class deposit and the likelihood of near-term cash flow from pilot-plant operations, RRL is a STRONG BUY at current prices. As investor awareness of Rocca Resources increases, and further drilling results from the Leonardo property are released, RRL's shares should move much, much higher.
For more information, please contact:
Bart Sheridan Lawrence - Investor Relations
Toll-Free: (877) 377 - 6222
e-mail: info@roccaresources.com
Rocca Resources will be at the PDAC Annual Convention & Trade Show in Toronto on March 14 - 17, 1999. Please stop by and visit RRL at Booth #2432.
Disclaimer
RESEARCH INVESTMENT GROUP is not a Registered Investment Advisor or a Broker / Dealer.
This electronic communication reflects opinions from Rocca Resources Ltd. (the "Company"). Readers are advised that this publication is issued solely for information purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy. The opinions and analysis included herein are based on sources believed to be reliable and in good faith but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. This information is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor.
The foregoing discussion contains forward-looking statements which are based on current expectations and differences can be expected. The information contained herein has been provided by the Company to RESEARCH INVESTMENT GROUP for information purposes only; in addition, the information contained in this report is not intended to be a complete discussion of information regarding some of the current and/or intended business activities of the Company. Readers are urged to consult with independent financial advisors with respect to an investment in the shares mentioned herein. Investors should review a complete information package on Rocca Resources which should include, but not be limited to, the Company's annual report, quarterly report, press releases, as well as all regulatory filings. All information contained in this report should be independently verified with the Company mentioned herein. Any opinions expressed in this report are statements of judgment as of the date of publication and are subject to change without further notice, and may not necessarily be reprinted in future publications or elsewhere. Neither RESEARCH INVESTMENT GROUP nor its officers, directors, partners or employees / consultants accept no liability whatsoever for any direct or consequential loss arising from any use of this report or its contents.
RESEARCH INVESTMENT GROUP HAS NOT been paid a fee from Rocca Resources. In the future, RESEARCH INVESTMENT GROUP may obtain a fee for consulting services including but not limited to, project analysis, assisting in locating funding sources as well as evaluating and reporting on projects the Company may have acquired or seek to acquire in the future. RESEARCH INVESTMENT GROUP, its officers, directors, partners and employees / consultants may profit in the event the shares of the Company increase in value. These positions may be liquidated from time to time even after RESEARCH INVESTMENT GROUP, its officers, directors, partners and employees / consultants have made positive comments on the Company.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.
We encourage the reader to review the investing information available with the Securities and Exchange Commission ("SEC") at sec.gov and / or the National Association of Securities Dealers ("NASD") at nasdr.com Readers can review all public filings by the Company at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its website.
MM |
