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Gold/Mining/Energy : Safe Environment (SFU.AL) - was Roper Resources -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (40)	4/22/1998 11:45:00 AM
From: Flea	Read Replies (2) \| Respond to of 635

The extended version... Negotiations with Safe Environment continue; Abbott review continues Roper Resources Inc RRN Shares issued 13,484,300 Apr 20 close $0.21 Wed 22 Apr 98 News Release Mr Richard Watson reports The company and Safe Environment Engineering have satisfactorily completed their initial mutual due diligence. A second phase of negotiations has commenced. Roper Resources has deposited, in trust, the sum of US$50,000 with the law offices of MacDonald, Altman, Sager of Toronto. With this deposit, Roper obtains the exclusive right to negotiate a relationship with Safe Environment Engineering. The parties are at arm's-length and have agreed to determine and define such a relationship by May 29 1998. If circumstances warrant, this date may be extended by mutual agreement. It is Roper's intent that the outcome of the negotiations will result in an agreement where Roper will acquire a significant interest in Safe Environment Engineering. The agreement reached to date is non-binding and there are no guarantees that the outcome of negotiations will result in an interest being acquired. Safe Environment Engineering, a California Limited Partnership, is headquartered in Valencia, California, 25 miles north of downtown Los Angeles. The company develops and supplies communications systems, which integrate wireless telemetry and voice communication to transmit information. The company uses this technology in its patented Life-line system, which, in one version, enables monitoring of entrants into confined spaces or hazardous locations; and, in another configuration, monitors security personnel on patrol rounds. The products of Safe Environment Engineering meet the strictest standards and requirements of various national and international regulatory bodies including CSA, UL, and FEDOSHA relating to confined spaces. Existing installations of the Life-line system are at the Northrop Grumman facility, Palmdale, California; Tinker Air Force Base, Del City, Oklahoma; Pearl Harbor Naval Shipyard, Honolulu, Hawaii; and Hill Air Force Base in Layton, Utah. Recently, StarEnterprise of Beaumont, Texas acquired the Life-line system on the basis of a short-term rental. The system was used to monitor the safety of oil refinery personnel throughout the duration of a major maintenance shutdown. Safe Environment expects this rental to be the first example of a significant marketplace within the oil refinery business. Production is well under way to fill a recently placed order received from the The Boeing Company of Seattle, Washington, for employment in its aircraft manufacturing facility in Everett, Washington. Mr W.T. Styffe reports With reference to a news release dated March 4 1998 (Stockwatch March 5), the company and its joint venture partners continue to evaluate and review the geological and drill hole data on the Abbott project in the Slocan mining district on Healy Creek, which is 40 miles North of Kaslo, BC and fifteen miles north of the Cominco Duncan mine. Work under way is intended to enable a determination of a fieldwork program in 1998 season. Subject to financing, the continuation of surface and underground exploration and development is planned. Financing in part, for the program envisaged is in place. Negotiations for additional financing are under way. Though the company did not provide any monies in 1997 towards its earn in requirement on the Abbott property an extension was negotiated and granted. The earn in requirement was increased. The present earn in requirement is that Roper will expend $2,000,000 to earn a 50% interest in the Abbott property. Silver Peak Resources (70%) and Golden Arch Resources (30%) presently own the Abbott property. Roper Resources and the co-venture partners are related. In accordance with a news release dated March 4 1998 (Stockwatch March 5), the company continues to be on notice with regard to meeting continued listing requirements. In furtherance of meeting exchange requirements the company has arranged a five year convertible debenture with Duncan R. McKay & Associates of London, England in the amount of C$150,000. Conversion price and warrants will be in accordance with exchange policies. Funds will be used for working capital.