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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Mykldee who wrote (5281)	6/16/1998 11:51:00 AM
From: CJacks	Read Replies (2) \| Respond to of 25711

ATTENTION: ABRG PRE-RELEASE OF NEWS. Not yet on the wire. See it at ambraresources.com. It will be hitting the wire...according to John Hickey. Not trying to hype, but this is a pre-release. Look at the volume spike last week. It was probably insiders that knew the release was coming. Other holders saw a big gain and dumped. Now the news is here: VANCOUVER, B.C. CANADA - JUNE 15, 1998 - publicly traded AMBRA RESOURCES GROUP INC. symbol ABRG.BB would like to announce: AMBRA RESOURCES CONSOLIDATES ALBERTA AND MONTANA GAS LEASES! Ambra's Petroleum Division has formed the Amex Joint Venture (Amex) with Starrock Resources Ltd. of Canada to explore and to develop potential and proven Oil and Natural Gas Reserves on large land holdings in Alberta and Montana on Two Major Projects: 1. The Amex Joint Venture has 20,740 net acres leased in the Cessford Area of Alberta, which contains proven and probable Gas Reserves that have been evaluated by Citidal Engineering of Calgary to be a total Value of $45,294,000.00. 2. The Amex Joint Venture has also leased 25,795 net acres in Montana as a result of the extensive field studies involving the Exploration Techniques developed by Starrock Resources Inc. The Cessford and Montana projects fit together very well in that Cessford will in all likelihood produce solid revenues for the partners of Amex, while Montana provides an upside potential that is phenomenal. Ambra Resources Group Inc. has already participated with AMEX on the following Wells: 1.Well 6-6-25-7: Ambra has paid $17,626.13 of the cost of drilling and completing this well for a 5% Working Interest. 2.Well 15-27-24-8: Ambra has paid $8,547.20 of the cost of drilling and completing this well for a 5% Working Interest. 3.Well 6-21-25-8: Ambra has paid $14,089.18 of the cost of drilling and completing this well for a 5% Working Interest. 4.Well 10-28-25-8: Ambra has Paid $10,437.60 of the cost of drilling and completing this well for a 5% Working Interest. Table One (1) summarizes the estimated Net production Revenue and Capital Cost for the Cessford and Montana Projects combined on a 100% Amex Participation basis. Table Two (2) summarizes the 5% Ambra Resources Group Inc. participation. Please note that the Capital costs shown for the Montana project from the year 2000 are for development drilling and would only be incurred if substantial reserves were discovered in 1998 and 1999 during the exploration phase of the project. Also please note the 15% discounted present worth of the Net Total Cash Position for the 100% of the Amex Joint Venture is $572,525,000.00. Further note the 15% Discounted Present Worth of the Net Total Cash Position for Ambra Resources Group's 5% Interest is $28,626,000.00. Ambra is very pleased with the progress of the AMEX Joint Venture so far. It looks very promising for Ambra Resources Group Petroleum Division. For more information or interested parties are invited to contact us directly at 1 (800) 698-3377 or visit our Web Site at www.ambraresources.com By the Board of Directors AMBRA RESOURCES GROUP INC. John M. Hickey President