Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ABRG (formerly AMBY) any news? -- Ignore unavailable to you. Want to Upgrade?

To: pete meyer who wrote (1178)	9/12/1999 11:04:00 PM
From: Mr.Dragon	Read Replies (1) \| Respond to of 1358

ABRG NEWS OUT: Got this from the ABRG web site. kiddo NEWS RELEASE AMBRA RESOURCES GROUP INC. #610-800 WEST PENDER STREET Vancouver, B.C. Canada V6C 2V6 September 13, 1999 Symbol ABRG.BB Ambra Resources Group's Partner, Venture Oil and Gas Inc, Schedules Meetings of Participatory Interest for the Development of their newly acquired South Louisiana Gas Project Ambra Resources Group's Partner, Venture Oil and Gas Inc, Schedules Meetings of Participatory Interest for the Development of their newly acquired South Louisiana Gas Project. VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 13, 1999-- Venture Oil and Gas, Ambra Resources Group's (OTC BB:ABRG) 50% owned partner, has acquired oil and gas leases on a deep gas project in South Louisiana. The leases are in a proven gas field that has substantial reserves below the depth of 18,000 feet. Expected recoveries after total development of the leases range between five hundred billion to over one trillion cubic feet of gas, plus an unestimated amount of condensate. Project meetings will be conducted during the week of September 13 in Dallas and Houston, Texas to finalize participatory interests and schedule project development. Additional information on the project will be released when all participants in the project approve disclosure. State Lease ``9800' No. 1 Well, Bastian Bay Field in Plaquemines Parish, La., was successfully remediated to obtain gas production flow rates of 2.5 million cubic feet of gas per day. This connection was delayed to take advantage of lower fees and expenses for line costs. The base production sales price is approximately $2.34 per mcf. Further, all gas which is sold above a price of $3.32 per mcf accrues to the participants. Operations have begun to connect the new sales-production line at the processing platform and production is expected to begin by September 15. By the board of Directors, AMBRA RESOURCES GROUP INC.