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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: patt who wrote (12998)	12/2/2000 4:15:24 PM
From: brian krause	Read Replies (1) \| Respond to of 15703

Thank-you Patt, The figures mentioned by Grayhairs are approx. what I had remembered from this past spring. The news released buy Hilton on the 16th of November left me wondering if the % of ownership had changed. I'm visiting my Parrents in Redlands right now and am going to take a drive up to the area early next week if I get a chance. Sunday the kids have me booked for Disneyland. Cheers Hilton Petroleum Ltd - Acquisition Hilton acquires interest in Greater San Joaquin Basin Hilton Petroleum Ltd HTP Shares issued 27,503,961 2000-11-16 close $1.45 Friday Nov 17 2000 Acquisition The Canadian Venture Exchange has accepted for filing documentation pertaining to an operating agreement dated June 15, 1999, between the company and Berkley Petroleum Corp. pursuant to which Hilton will acquire a 4-per-cent capital interest in the greater San Joaquin basin joint venture for $1.4-million (U.S.) in cash. In addition, Hilton will acquire a 0.7-per-cent working interest in the East Lost Hills property from Berkley, which will revert back to Armstrong Resources LLC upon payout of the purchase price and drilling costs from East Lost Hills production. The exchange has also accepted for filing an agreement dated July 6, 1999, between the company and Hilton LLC, pursuant to which the company will sell a 3-per-cent interest in the joint venture for $1.55-million (U.S.) and payment of 4 per cent of any costs to drill on the joint venture lands. The investors in the limited partnership would have the option, after 12 months, to convert their capital account into common shares of the company. Pursuant to a news release dated Sept. 8, 2000, the company disclosed the conversion of the limited partnership units into common shares of the company. The Hilton LLC raised $2,950,110 which was used to acquire the interest in the joint venture and participate in drilling. The company will issue 1,558,730 shares to the members of the limited partnership to complete the transaction. Conv. price: $1.91 per share Members: David Cowan, 83,440; Nottinghill Resources, 76,380; Limoges Investments Ltd., 534,661; DNN Investments, 152,760; DMD Investments, 152,760; and Bank Insiger de Beaufort N.V., 76,380 Conv. price: $1.71 per share Member: 463294 BC Ltd., 85,420 Conv. price: Modesitt Partners LLC, 82,022 Conv. price: $1.89 per share Member: San Joaquin Oil & Gas Ltd., 314,907 (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com