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Gold/Mining/Energy : Shamrock Resoures Inc. shj.v -- Ignore unavailable to you. Want to Upgrade?

To: bcjt who wrote (20)	10/15/1999 9:26:00 PM
From: bcjt	Read Replies (1) \| Respond to of 34

Shamrock completes private placement Shamrock Resources Inc SHJ Shares issued 11,061,200 Oct 14 close $0.40 Fri 15 Oct 99 News Release Mr. Robert Brady reports Further to news in Stockwatch July 26, 1999, the company has completed the private placement with Albatross Oil & Gas Company of 5.4 million special warrants at 25 cents per special warrant. Each special warrant is convertible into a unit, with each unit consisting of one common share and one share purchase warrant entitling the purchaser to acquire a further common share for a period of two years at a price of 25 cents in the first year and 30 cents in the second year. The transaction has now been approved by the Vancouver Stock Exchange, and the securities issued will be held in escrow pending formal approval of the transaction by the shareholders of Shamrock. Funds received from the private placement will be used to complete the costs of the company's participation in its Lost Hills and Oro Fino projects, and for continuing costs of the Forum prospect. Shamrock now holds working interests in three high-potential oil and gas projects in the state of California. The second well in the Berkley Petroleum group's program, which is approximately 2 1/2 miles north of the original well, which blew out last November, and approximately one mile from Shamrock's Lost Hills Temblor prospect, is currently drilling ahead toward a projected depth of 18,000 to 20,000 feet. This well is expected to reach target depth sometime in December. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com bcjt