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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (5554)	2/17/2004 8:50:52 AM
From: Step1	Read Replies (1) \| Respond to of 8273

Marcos try Opera ( the browser ) I have been happy with it. They are all free now on top of that. You can move your bookmarks into it no problem and it can be controlled all from the keyboard , well almost, if you wish... NDE, seems like their turn will come. There was decent vol not long ago, price spiked up a couple of cents then, i wonder what it was about...?? My thanks for bringing up DMW. I lucked out and bought a good position at 1.35 two days before it took off... Like they say, i would rather be lucky than smart... step1

To: marcos who wrote (5554)	2/17/2004 1:41:49 PM
From: siempre	Read Replies (1) \| Respond to of 8273

marcos, thought you might be interested in this from DMW... just out! DiamondWorks enters mid-stream oil business in Nigeria TSX: DMW VANCOUVER, Feb. 17 /CNW/ - DiamondWorks Ltd ("DiamondWorks" or the "Company") is pleased to announce that through a wholly-owned subsidiary, Energem Petroleum Corporation Limited ("Energem"), it has entered into a memorandum of understanding ("MoU") with Yinka Folawiyo & Sons Ltd ("YFS") of Nigeria. The MoU provides for the Company and YFS to form an equally-owned joint venture company by no later than mid-March 2004 for purposes of the establishment and operation of a petroleum product receiving, storage and distribution tank depot facility with a monthly throughput capacity of 150,000 tonnes in the deep water port in Lagos, Nigeria ("the Project"). The joint venture company will establish and thereafter manage the Project in accordance with the terms of a development study completed by CITAC Ltd. of London, specialist African energy project consultants (Website ref. www.citac.com). The Project will comprise the only privately-owned facility in Nigeria capable of receiving, storing and distributing full cargos of petroleum products for distribution into the Nigerian petroleum market, the largest such market in Africa. Energem has undertaken in terms of the MoU to arrange the necessary finance on behalf of the joint venture company. The estimated finance required to establish the facility and bring it into operation is not expected to exceed US$10 million, of which at least 85% is expected to be debt-financed by commercial and institutional financiers. Energem has committed to place on deposit with such financiers 15% thereof (US$1.5 million) to support the financing arrangements. YFS, the Company's Nigerian joint venture partners in this project, were established in 1957 and are one of the largest diversified groups engaged in, amongst others, the construction, oil, shipping, agricultural and fishing industries and banking sector of Nigeria (Website ref: www.yinkafolawiyo.com). YFS have available and will provide to the joint venture company suitable leasehold land area, deep water jetty and berthing facilities as well as all the necessary licences and approvals as may be required for the Project. Product offtake arrangements for the full anticipated throughput have been concluded with Zenon, the largest independent refined oil and petroleum product retailer in Nigeria. DiamondWorks CEO Tony Teixeira, in commenting on the arrangements, stated: "The arrangements contained in this MoU come about as a result of several months of study and development and, together with our partners, will provide the Nigerian market with a much needed facility and the joint venture with sound, long term and sustainable earnings from its operation." DiamondWorks is a mining and mineral exploration company engaged in the acquisition, exploration, development and mining of diamond and other mineral properties. The Company's principal mineral properties are located in Sierra Leone, Angola and Central African Republic. The Company's wholly owned subsidiary, Otterbea International (Proprietary) Limited and 50% subsidiary Petroplus Africa Limited, specialize in commodities trading, the supply and sale of crude oil and refined petroleum products and procurement and logistics for the mining industry in Africa.