IDCN - gold, garnet, etc. Message Board

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Microcap & Penny Stocks : IDCN - gold, garnet, etc.

IDCN 0.00001000

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Nov 7 9:30 AM EST

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To: C who wrote (5602)	3/31/1999 1:02:00 PM
From: JimNewby	Read Replies (1) of 5908

Here's the newswire release of the website update: ‹^› ‹(•¿•)› ‹^› Company Press Release Indocan Resources - Expansion Into Alberta Oil & Gas Fields VANCOUVER, British Columbia--(BUSINESS WIRE)--March 31, 1999--Indocan Resources Inc. IDCN announced today that it has purchased a 50% interest in over 9,000 acres of Natural Gas production land at Heart Lake, Alberta. Seismic and other preparatory work has been completed and the Company plans to begin drilling the first five shallow gas wells in late May. Natural Gas wells in this area typically are drilled to a depth of 450 meters (1500 feet) and produce approximately one million cubic feet per day. Twenty wells are planned the first year. The Company web site can be viewed at www.indocan.com where continuous progress updates appear. The Heart Lake acquisition includes a commitment by Indocan to spin-off a separate public company to be the operator of these gas fields. Indocan will issue 1.5 million shares as a bonus to the purchase price and commits to provide the funds for the drilling program. Indocan Resources has several mining claims in Canada and is currently boring core samples on its Isaac's Harbour, Nova Scotia gold properties. This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.

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