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Gold/Mining/Energy : TransAtlantic Petroleum Corp (TNP.U - was Profco) -- Ignore unavailable to you. Want to Upgrade?

To: md who wrote (179)	4/4/1998 10:30:00 AM
From: Bill Shugarue	Read Replies (2) \| Respond to of 270

MD: It is my understanding that when the 1 million barrel is reached, Profco will then receive 60% of the oil produced. This is supposed to happen prior to the end of 1998, providing everything goes as planned. In the past, there have been delays. I did read that article in the Globe & Mail. It did mention that Profco and Canadian Oxy were partners in Nigeria, but if I recall, it said that Canadian Oxy were forming new partnerships in Nigeria. This does not affect the current partnership with Profco, but shows that Canadian Oxy are committed to further work in Nigeria. This could have been the cause of Profco's share price firming the past few days.