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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough! -- Ignore unavailable to you. Want to Upgrade?

To: tom eland who wrote (4193)	8/4/1999 3:09:00 PM
From: average joe	Read Replies (1) \| Respond to of 5206

I'm not sure what you mean tom, but if you are referring to a jv call, it is usually (but not always) called an AFE, or "approval for expenditure" that is sent to the jv partners by the operator. Should the partner refuse or be unable to pony up the cash they might be offered 1) additional time or 2) diluted. There would be a dilution schedule in the jv that would show how much dilution of their jv interest they would suffer, it usually goes to zero or a preset carried interest. I think Cameco is out of the participating part of the joint venture and is sitting at 10% NPI, but that is probably before development and they would need to contribute some of the costs to or above 10% of a development. Cameco also I believe would have retained back in rights for their original interest and but would have to pay a penalty to the operator for exercising their back in right. This usually is the money with interest of what has been spent on the land they are backing into plus a hefty penalty. aj

To: tom eland who wrote (4193)	8/4/1999 4:44:00 PM
From: I_C_Deadpeople	Read Replies (2) \| Respond to of 5206

Kensington retains manager of investor relations Kensington Resources Ltd KRT Shares issued 24,670,435 Aug 3 close $0.44 Wed 4 Aug 99 News Release Mr. David Stone reports Kensington Resources has retained William Callahan as manager of investor relations. Mr. Callahan is a graduate of Indiana University (1973) with a bachelor of science in communications and has extensive media experience in publishing, television, film and print. In the field of investor relations, Mr. Callahan was previously head of investor relations for three years for Western Bell Communications, Inc., and has worked with other public and private corporations on a consulting basis. Mr. Callahan will be based out of the company's new investor relations office in Victoria: Kensington Resources Ltd. Suite 304, 1208 Wharf St. Victoria, B.C. Canada V8W 3B9 Phone: (250) 361-1KRT (361-1579) E-mail: krt@bcl.com The company has entered into an employment agreement effective July 1, 1999, with Mr. Callahan pursuant to which Mr. Callahan will be retained as manager of investor relations of the company on a month-to-month basis. Mr. Callahan will be paid the sum of $2,500 per month and has been granted incentive stock options to purchase up to 75,000 common shares of the company at an exercise price of 38 cents per share on or before July 6, 2004. A copy of the employment agreement will be filed with the Vancouver Stock Exchange public file for information purposes. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com