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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (51227)	6/14/2000 10:12:00 AM
From: Laura E.	Read Replies (1) \| Respond to of 150070

I think is halted...

To: Jim Bishop who wrote (51227)	6/14/2000 10:17:00 AM
From: paper man	Respond to of 150070

Jim Bishop - greetings - here is a solid energy company getting ready to do a lrage PP for an aquistion: CNGG Cambridge Energy Corporation Enters Into Negotiations to Acquire 700 Acres of Proven Reserves in South Louisiana COCOA, Fla.--(BUSINESS WIRE)--June 13, 2000--Cambridge Energy Corporation (OTCBB:CNGG), an oil & gas production and development company with producing properties in Louisiana and Indonesia, today announced that it has entered into negotiations to acquire 700 acres in south Louisiana with significant proven, probable, and exploratory reserves. Funding for the acquisition would come from a private placement financing as well as bank financing from the Company's usual lenders. Terms of the negotiations prevent Cambridge Energy from disclosing the specific details on the property until both parties execute a definitive agreement. However, after reviewing the seismic data, management estimates that 57 billion cubic feet (BCF) of gas and 1.3 million barrels of oil and condensate (BC) are recoverable from the acreage. These consist of approximately 13BCF and 80,000 BC of proven reserves, 14 BCF and 1 million BC of probable reserves, and 30 BCF and 220,000 BC of exploratory reserves. Perry West, Chairman and CEO of Cambridge Energy, stated: "The Company is aggressively moving forward with our strategy of acquiring proven reserves with strong additional potential. These acquisition negotiations demonstrate our continued commitment to increase the flow of revenues, profits and value to our shareholders." About Cambridge Energy Cambridge Energy is engaged in the acquisition, development and operation of producing oil and natural gas properties with proven reserves. To date, the Company has acquired properties in Louisiana and Indonesia with proven oil reserves of 16.8-17.8 million barrels and 50-60 billion cubic feet of natural gas reserves. Further information can be found at the company's Web site: cambridgeenergy.com. This news release includes forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the Company's progress, business opportunities, and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the Company's periodic filings with the U.S. Securities and Exchange Commission. CONTACT: Cambridge Energy Corporation Jonathan Bates, 888/285-5677 or Magnum Financial Group, LLC Nevil Dhabhar, 213/488-0443 nevil@magnumfinancial.com KEYWORD: FLORIDA BW0429 JUN 13,2000 8:36 PACIFIC 11:36 EASTERN