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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (310)	10/22/2000 2:57:19 PM
From: Greywolf	Read Replies (2) \| Respond to of 500

25% farm out agreement in Tanzania, On September 21, 2000, the Company farmed out 25% of its interest (pending government approval) in the Tanzania concession to a wholly-owned subsidiary of Energy Africa Limited (EA) for US$1,750,000. Of this amount, US$1,150,000 is to be received as the first test well is drilled (in accordance with the Production Sharing Agreement). EA has the option to relinquish its rights and obligations after the drilling of, or testing on, the first test well. And the partner is the South African energyafrica.com Which in tune is owned by refinery/gas station company engen.co.za