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

To: decky who wrote (262)	3/27/2002 12:39:16 PM
From: decky	Respond to of 338

Stockwatch Shortcuts Menu Symbols Bulletins Company Participant Insiders AccountStatus NewWindow Osprey Energy Ltd (2) - News Release Osprey Energy proposes $1.5-million private placement Osprey Energy Ltd (2) OEL Shares issued 10,908,621 Mar 26 2002 close $.490 Wednesday Mar 27 2002 News Release Osprey Energy has arranged a non-brokered private placement for up to three million units at 50 cents per unit for gross proceeds of $1.5-million. Each unit consists of one common share and one non-transferable share purchase warrant exercisable at 65 cents for a two-year period until March 27, 2004. Proceeds will be used as working capital and to accelerate the continuing remedial work program on the company's oil and gas properties in Louisiana. Last week Osprey announced the acquisition of additional proven reserves of more than five billion cubic feet of gas and 845,000 barrels of oil from its Louisiana partner, BPR Energy, of Lafayette. Negotiations to acquire other assets in the area, including both proven reserves and promising exploration properties, are continuing. The company is also pleased to confirm the successful drilling and completion of an oil well in the Jenner area of Southern Alberta as announced in Stockwatch Feb. 1, 2002. Preparations are under way to drill another development well in the same area in April, with two additional wells expected to be drilled and completed before the end of the year. Osprey holds a 5-per-cent working interest with Conoco in this property. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2002 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)