To: Kansas City who wrote (91 ) 3/23/1998 8:25:00 PM From: Jim P Respond to of 139
Canada Stockwatch <Picture> Shortcuts <Picture>Menu <Picture>Symbols <Picture>Bulletins <Picture>Company <Picture>Participant <Picture>Insiders <Picture>AccountStatus <Picture>NewWindow TKO Resources Inc - Oil & gas property rights to be acquired in Newfoundland TKO Resources Inc TKShares issued 215432001998-03-05 close $0.19Friday Mar 6 1998Mr Bob Burton reports The company has reached an agreement to acquire all of the issued and outstanding shares of Imperial Venture Corp (IVC), thereby increasing its oil and gas holdings by 483,000 acres. The company will acquire existing stocks of IVC in a three for one share swap. The company will issue 19,761,000 shares for the 6,587,000 issued and outstanding shares of IVC. The company will also issue options and warrants to replace those existing in IVC. IVC is an oil and gas exploration company holding petroleum exploration rights (100%) to two parcels of land in western Newfoundland. These parcels are the onshore - Harry's River block of 84,000 acres and the offshore - Bonne Bay block of 399,000 acres. Companies such as Hunt, Mobil and PanCanadian are active in the immediate area. Preliminary exploration analysis based on regional geology and reconnaissance seismic on the IVC onshore block has identified prospect leads. Parcel 24 onshore - the Harry's River block has potential prospects of 50 million to 100 million boe recoverable. Three prospect leads with total potential recoverable reserves of 395 million barrels are identified with an additional 100 million barrels possible on the upside. IVC's offshore acreage is covered by 2,400 line km of 2D seismic and major structures are defined. Parcel 8 offshore - the Bonne Bay block has potential prospect sizes of 100 million to 500 million boe recoverable with four prospect leads, the total potential recoverable reserves of 931 million barrels are identified. IVC's offshore acreage is on strike with the Hunt Oil (Canada) discovery Port au Port No. 1 well. The company has management has training, experience and a positive track-record in discovering hydrocarbons and in operating oil and gas companies. The company's board of directors is made up of Messrs Steven M. Millan, Jack A. Bolter, Edward Best, and George S. Langdon. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)