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Gold/Mining/Energy : Birch Mountain Resources BMD-ASE -- Ignore unavailable to you. Want to Upgrade?

To: Chuca Marsh who wrote (135)	6/16/1999 10:42:00 PM
From: Chuca Marsh	Read Replies (1) \| Respond to of 402

Strange, more Oil News: In One week Spread, and the BMD AGM is the 24th June 99: Folks this is BIG...positioning to ALBERTA oils sands IMHO, OIL SANDS Syncrude: News Today about THEM divesting also...first SHELL, today Syncrude!: Gulf Canada Resources Ltd - Van Sun/CP say Gulf Canada to sell Australian operations Gulf Canada Resources Ltd GOU Shares issued 348,950,044 1999-06-15 close $5.5 Wednesday Jun 16 1999 The Vancouver Sun reports in a Canadian Press dispatch in its Wednesday edition that Gulf Canada Resources has hung out a For Sale sign on its Australian operations, a month after chief executive Dick Auchinleck told shareholders at the Calgary company's annual meeting that Gulf would not be selling any more assets. The senior oil producer says it is considering selling its Australian operations and it has retained HSBC Securities to find possible buyers. In Australia, Gulf Canada produces 11,000 barrels of oil equivalent per day and it employs 150 people. Mr. Auchinleck says his company has not made a final decision but at this point he says there is a 50 per cent chance that the Australian operation will be sold. He declined to elaborate on a likely price tag. Mr. Auchinleck also says that Gulf Canada's interest in a $500-million heavy oil joint venture with PanCanadian Petroleum, unveiled in April, could also be sold within the next 18 months. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing) Now an interesting Old News Below: Gulf Canada Resources Ltd - Syncrude Canada annual results Gulf Canada Resources Ltd GOU Shares issued 348,950,044 1999-05-25 close $5.25 Wednesday May 26 1999 See Alberta Energy Company Ltd (AEC) News Release Mr. Peter Marshall of Syncrude Canada reports Syncrude Canada has released its annual report on the World Wide Web. The report shows that annual Syncrude sweet blend shipments were 76.7 million barrels, the 17th annual record in 20 years of operations. Total unit costs, at $13.57 per barrel, were the lowest in Syncrude's history. Capital expenditures were a record-breaking $481-million, almost 35 per cent higher than the $355-million invested in 1997. Environmental performance was also exceptional in 1998 with performance better than regulated limits. These achievements are considered outstanding. The operation continues to be on track toward increased energy efficiency. Its goal is to achieve annual energy use reductions of almost 2 per cent on average for a total reduction of 35 per cent per barrel of production between 1990 and 2008. Many of the gains will be realized as new equipment and technology are introduced through Syncrude's $6-billion capital investment program, which are described in the innovative report. During the year, construction commenced on the second ore train of the North mine and its associated hydrotransport facilities; approval was received from the joint venture owners to start construction of the Aurora project which expands Syncrude's mining operation onto new oil sands leases; the second stage of upgrader debottlenecking was started; and the regulatory application for the upgrader expansion project was submitted. The Syncrude project is a joint venture operated by Syncrude Canada Ltd. and owned by AEC Oil Sands, L.P., AEC Oil Sands Limited Partnership, Athabasca Oil Sands Investments Inc., Canadian Occidental Petroleum Ltd., Canadian Oil Sands Investments Inc., Gulf Canada Resources Limited, Imperial Oil Resources, Mocal Energy Ltd., Murphy Oil Company Ltd., and Petro-Canada. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Chucka-murphyoilsoap-INFORMATION SHARRING AGREEMENT with Syncrude and with Shell- Tag on that JV inwhich we at BMD exchange the info, is $100,000,000 ( 100 Million Dollars Canadian ) The Athabasca -YES!