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Gold/Mining/Energy : The New Osprey Limited -- Ignore unavailable to you. Want to Upgrade?

To: The Osprey who wrote (37)	5/9/2001 10:54:26 PM
From: Apex	Read Replies (1) \| Respond to of 338

Story in Section C Page C1 Next to a picture of Brian Mulroney. OSPREY GRABS PIECE OF ALBERTA GAS PROJECT. Osprey energy of Bridgewater has obtained a 21 per cent working interest in an Alberta natural gas development. "For a small company, this is highly significant," Osprey spokesman John MacDonald said Tuesday. Mr.MacDonald wouldn't divulge exact figures but said Osprey's investment in the development with BPR Energy of Louisianans in the "several-million-dollar range." The company, formerly based in Vancouver, has interests in holdings in Louisiana and Alberta. It moved its headquarters to Nova Scotia because company president Gary Malone, a New Brunswicker, prefers the Maritime lifestyle.(Me Too!!!) Osprey recently announced a partnership with Consolidated Beacon Resources of Calgary to explore onshore lands near Debert and Parrsboro. Mr.MacDonald said all preliminary and seismic work on the newly announced Alberta property has been completed, and Osprey is fundraising through the issuing of 300,000 shares. News of the Alberta development pushed Osprey's stock, which is traded on the Canadian Venture Exchange, up from about $1 to about $1.50, he said. The Alberta play was developed by one of the top five oil and gas companies in the world, but Mr. MacDonald said the firm which retains an interest and will operate the development, didn't want to be identified at this time. Osprey will paricipate on a joint venture basis in other wells as they are drilled on the Alberta property. By Bruce Erskine, business reporter