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Gold/Mining/Energy : V.EGG - Ebony Gold & Gas -- Ignore unavailable to you. Want to Upgrade?

To: Coho who wrote (1022)	11/25/1997 8:22:00 AM
From: Bob Walsh	Read Replies (1) \| Respond to of 1088

News release Mon 24 Nov 97 Property Agreement The VSE has accepted for filing a letter of agreement dated October 7 1997 between the company and American Hunter Exploration Inc (a subsidiary of U.S. Diamond Corp) whereby the company has agreed to sell to American Hunter the following: 1. 50% interest in oil and gas equipment for US$40,000; and 2. 25% interest in the Ledbetter well and a 25% interest in the Ebony well No. 00 and the right to acquire a 50% working interest (subject to a 10% royalty interest in favour of the company) in any and all wells proposed to be drilled within a designated area of interest in Tennessee, and have to right to acquire a 50% equity interest in the company's US subsidiary for US$325,150 (US$260,000 of this amount is to be paid to Poston & Poston Drilling Corp as the balance owing in respect of the sale of certain oil and gas equipment.)