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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Chi-Chi who wrote (5394)	9/15/1998 9:06:00 PM
From: Tupulak	Respond to of 24921

MacDonald Oil, MACO 1998-09-14 (provided courtesy of ISDN Wire Service.) register to receive future releases by email from ISDN BRO-X TO MERGE WITH MACDONALD OIL TORONTO, ONTARIO-- MacDonald Oil Exploration Ltd. (CDN: MACO) and Bro-X Minerals Ltd. have signed a letter of intent to seek all requisite approvals to merge. Under the terms of the letter of intent, MacDonald Oil shareholders would receive one share and one warrant of the merged company ("Amalco") for each MacDonald Oil share and Bro-X shareholders would receive two shares and one warrant of Amalco for every four shares held. The warrants would all be exercisable at $0.25 each at any time within twelve months of their issue. A Bro- X preferred share issue for $2 million, convertible into common shares at $1.00 each would become convertible at $0.25 per common share of Amalco. Bro-X has 22 million common shares issued and outstanding; MacDonald Oil has 18 million shares outstanding. 22% of Bro-X common shares and all its preferred shares are held by Bresea Resources Ltd. MacDonald Oil now holds a 30% interest in Block 22, the single largest onshore hydrocarbon exploration concession in Cuba, comprising 9,900 square kilometres. Earlier this summer MacDonald Oil announced its agreement to farm-out a 70% operating interest in Block 22, to Genoil Inc., a subsidiary of Beau Canada Exploration Ltd. An initial seismic program identified at least four potential drilling prospects which will be detailed with a further seismic program that commenced today. A first exploration well is scheduled for the second quarter of 1999. The operatorship of Beau Canada's Genoil Inc. has brought significant experience and economies to the companys' exploration programs in Cuba. -30- Frank C. Smeenk Thomas P. Devlin MacDonald Oil Exploration Ltd. Bro-X Minerals Ltd. Tel: (416) 865-1625 Tel: (403) 543-7080 Fax: (416) 865-9386 Fax: (403) 543-7060 No regulatory authority has approved nor disapproved the content of this news release. Has anyone ever heard of the company? At least now I can take the capital loss and put another mess behind me. Curtis

To: Chi-Chi who wrote (5394)	9/15/1998 11:56:00 PM
From: AL Berta	Read Replies (1) \| Respond to of 24921

Thanks for the info on your resource. I can't see where you get your appreciation numbers from but I suppose if you discount the last couple of months, anything's possible. With regard to the "six months average hold time" qualifier, were you also giving readers specific sell points to avoid their being taken down in the draft? I certainly don't mean to discourage you in your effort to bring further information to micro-cap players. Rather, I would like to see your resource expanded. I would caution however, that if you wish to bring impartial information on a variety of micro-caps to light, what purpose is served by demeaning one micro-cap while touting another when the case can surely be made that neither enjoys any particular advantage? In fact, the opposite may well be true. You stated in one of your posts that "Bearcat is a highly speculative stock". Most of the companies you tout on your page have a market cap of less than $50 million Canadian. Do you somehow assign a greater degree of security to them that is undeserved by Bearcat in spite of Bearcat having a very similar market cap? Being in "Canada's Oil Capital" of Calgary, I'm sure you can recall some small companies who hit the big-time with a drill-bit and a single lease. Press on undaunted and believe in what you are doing. Disregard the nattering nabobs of negativity. But be fair to avoid being overwhelmed by them. A plus is a plus is a plus. Regards, AL.