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December 31, 1996 Seine River Resources Inc v.sro anounced a project once the final agreements are signed... Ceiba Petroleo, S.A. A 79% owned GUATEMALAN Co. and Subsidiary of Seine River Resources Inc. has executed a "Letter of Intent" with New Arcadia Resources Ltd to develop oil lecense A-2-92. Arcadia would earn a working intrest for drilling the first well on the property within 180 days of a formal agreement, est cost of $3,000,000 US. Seine River Resources has a stregically placed 554,000 acres for OIL & GAS exploration under the A-2-92 License. A early well the San Diego #1 Tested 2783 bpd at production of 145,000 it was closed due to mechanical problems preventing further production. The license is bisected by an underutilizedpipeline with a capacity of 60,000 bpd. There is a new pipe line in the final stages with a cost of US $ 34,000,000. During Seismic data testing a "Goliath" was located with four additional possibliteys for nstructures on the property. Seine River Resources Inc has a web site at: seineriver.com IR at 1-604- 689-2280 or 1-800-889-2280 New Arcadia Resources Ltd. 1-604-684-7169 Any of the above true??? do your DD and check it out for your self. on 01-03-97 the stocks were up in price. | ||||||||||||||
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