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Micron said PPTL is producing 150,000cf/day of day since december 31 2006 in Viking Zone but we never heard anything about that if it'S true or not this kind of news is good for the company.anybody should ask Bruce.
Hi,Kim
I would like to know when they will produced Natural Gas.
They have found oil(petrole)and Gas so when they will produced oil and gas.
if they produced oil and gas they will have more money to do the well.The big question is are they producing oil and gas.
There site is not been update enough.It is alway's the same
news writen on there site for the new investors it is not easy to find news.
Sorry for my bad english i'm a french Canadian.
Michel
Micron environ annual report page 21
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MICRON ENVIRO SYSTEMS INC
Form:10KSB Filing Date:4/23/2007 Jump to : -- Use Sections To Navigate Through The Document -- 10KSB FORM 10KSB PART I Item 1. Description of Business. Item 2. Description of Property. Item 3. Legal Proceedings. Item 4. Submission of Matters to Vote of Security Holders PART II Item 5. Market Price for Common Equity and Related ... Item 6. Management's Discussion and Analysis of Financial ... Liquidity and Capital Resources. Results of Operations. Item 7. Financial Statements BALANCE SHEET INCOME STATEMENT STOCKHOLDERS EQUITY CASH FLOW Notes to the Financial Statements NOTE 9 - SUBSEQUENT EVENTS Item 8. Changes in and Disagreements with Accountants. PART III Item 9. Directors, Executive Officers, Promoters and Control ... Item 10. Executive Compensation COMPENSATION TABLE OPTIONS AGGREGATE Item 11. Security Ownership of Certain Beneficial Owners and ... BENEFICIAL OWNERS Item 12. Certain Relationships and Related Transactions. Item 14. Principal Accountant Fees and Services. SIGNATURES EXHIBIT 10.1 EXHIBIT 31.1 CERTIFICATIONS EXHIBIT 31.2 CERTIFICATIONS EXHIBIT 32.1 CERTIFICATION EXHIBIT 32.2 CERTIFICATION Format : HTML RTF Sections Excel Original PDF File Back
Item 2. Description of Property.
Our Property. During the fiscal year ended December 31, 2006 we held a working
interest in the following properties:
Green Ranch Prospect (Stephens County, Texas)
In February 2002, we acquired a 5% working interest, and a 2.5% net revenue
interest in a proposed fifteen (15) well oil and gas program in Stephens County,
Texas referred to as the Green Ranch Prospect.
18
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The Green Ranch Prospect was a proposed 15 well program consisting of 4,131
acres of leasehold on the Green Ranch in Stephens County, Texas. This leasehold
is located approximately 50 miles northeast of Abilene, Texas and approximately
10 miles northwest of Breckenridge, Texas, along the North Stephens-Shackelford
County line. The initial primary target formation in this prospect was the Bend
Conglomerate at a depth of approximately 4,500 feet. Secondary target
formations are the Caddo, Rotten Chert, Mississippian and Ellenberger formations
The Green Ranch Prospect lies within an oil and gas producing province
identified as Texas Railroad Commission District 7B, which encompasses 24
Counties I North Central Texas. Within an area approximately 120 miles long and
40 miles wide running from Archer County, Texas to the North to Brown County to
the South, lays the Bend Arch. It covers portions of Archer, Jack,
Throckmorton, Shackelford, Callahan, Eastland and Brown Counties, and all of
Stephens and Young Counties all within District 7B. As the name implies, the
Bend Arch is a broad, gentle structural arch, which plunges northward from the
Llano Uplift across West Central Texas, terminating in the regional synclinal
area south of the Red River Uplift. It was a stable area with subsidence on
either side as the Fort Worth Basin formed on the East and Permian Basin formed
on the west. As the Bend Arch was relatively stable throughout a large part of
geologic history, the area afforded favourable environments for deposition of
oil and gas reservoir beds. Principal producing formations are the
Mississippian, Bend sands and conglomerates, the Caddo limestone and Strawn
sands.
On May 10, 2002, drilling commenced on the first well, the Z1 Well. Permico
Corporation (the "Operator") informed us that they encountered potential
hydrocarbon-bearing zones while drilling. The Z1 Well was drilled to a total
depth of 4,514 feet, production casing was set and cement was poured and dried.
The Operator constructed a gas pipeline for the Z1 Well. The Operator gathered
information from surrounding fields and existing wells and based on this data,
decided to frac the Mississippian zone. The Operator informed us that oil and
gas were encountered as the frac was being conducted. The frac was successful
and oil has been recovered and sold. The gas formation located directly above
the oil-bearing region was fraced and put on-line for sales. The Z1 Well
produced gas revenue.
On November 27, 2002, for consideration of $10,000 we increased our net revenue
interest in the second well of the Green Ranch Prospect from 2.5% to 3.9%, while
our working interest remained at 5%.
On February 1, 2003, drilling commenced on the second well of the Green Ranch
Prospect, the Z2 Well. The Z2 Well was drilled to a total depth of 4,249 feet,
production casing was set and cement was poured and dried. The Z2 is located
approximately 6,000 feet away from the Z1. After reviewing the sonic logs and
the density-neutron logs, the Operator decided to perforate and frac from 3,950
feet to 3,990 feet. Perforation of the Z2 Well was successfully completed and
successful within the significant 104-foot continuous fractured pay zone. The
Z2 well was connected to the high pressure gas system and gas was recovered and
sold. The Z2 also produced oil. We did not consent to the rework of the Z2
Well, therefore 400% of our portion of the reworking costs were to be recovered
before we could collect our 3.9%. The Z2 Well is producing a very small amount
of gas, therefore we do not expect to ever be able to back-in for our interest
in the well.
In February 2004, we also elected to go non-consent on the third well on the
Green Ranch Prospect, the C-1 Well. Therefore we incurred no costs of drilling
this well and we were to only start receiving revenue from this well after 500%
of our portion of the drilling costs were recovered before we could
19
--------------------------------------------------------------------------------
collect out interest in the C-1 Well. As the operator drilled the C-1 Well they
encountered a fault in the coal bed formation and decided to abandon the well in
April 2004.
In May 2006, we received an offer from the operator of the Green Ranch Prospect
to sell the Z1 well for approximately $5,685, which we accepted, however we have
not yet received the funds. Another company which has a 50% interest on the Z1
has not yet signed off on the sale of the Z1 well and the matter is halted
pending their decision. There is no assurance we will ever receive the funds
from this sale and we are no longer receiving revenue from the Green Ranch
Prospect therefore during the year ended December 31, 2006, we abandoned the
project.
Kerrobert Project (Saskatchewan, Canada)
In March 2003, we entered into a participation agreement with Patch Energy Inc.,
whereby we may earn up to a 3.5% net revenue interest in an oil and gas property
located in Saskatchewan, Canada for consideration of incurring up to 5% of the
costs associated with the drilling program. This was a related party
transaction at the time of the agreement as the president of Patch Energy Inc.,
David Stadnyk, was also one of our consultants. In May 2003, we entered into a
participation agreement with Habanero, whereby we assigned them 30% of our
interest in exchange for Habanero paying their share of exploration and drilling
costs. Thus, we currently have a 3.5% working interest and a 2.45% net revenue
interest in the Kerrobert Project. Habanero is a related party as Negar
Towfigh, our corporate secretary, is a member of their board of directors.
During the year ended December 31, 2003, we participated in drilling and casing
nine wells on the Kerrobert Project. A total of nine wells have been drilled
and completed on this property, and we are receiving revenue from these wells.
The oil is comparable to West Texas No 1. The experience by other oil companies
in the area suggests an approximate fifteen year life for the shallow oil wells.
Our ability to drill further wells on this project is completely contingent on
our partners' decision and the operators decision to drill further wells, our
partners ability to meet future cash calls, and our ability to meet future cash
calls.
Martex Prospect (Jack County & Palo Pinto County, Texas)
In September 2003, we entered into a participation agreement with The Cumming
Company, Inc., whereby we paid $425 for a 1% working interest and a 0.8% net
revenue interest in the Marble Falls Rework Project in Jack County and Palo
Pinto County, Texas. The participation agreement includes the re-entry and
re-completion of Martex Ima Bridges #2 Well and the Kinder #1 Well.
Furthermore, we paid $6,945 for 1% of all turnkey and re-completion costs
attributed to the project.
In February 2004, we entered into an additional participation agreement with The
Cumming Company, Inc., whereby we paid $750 for a 1% working interest and a 0.8%
net revenue interest in five additional wells on the Martex Prospect. We paid a
total of $15,968 for 1% of all turnkey and re-completion costs attributed to the
project.
In October 2004, we entered into a third participation agreement with The
Cumming Company, Inc., whereby we received a 1% working interest and a 0.75% net
revenue interest in the Stuart 60 #8 - Re-Entry Project. We paid $2,610 for 1%
of all turnkey and re-completion costs attributed to the project.
This multi-well project in Palo Pinto and Jack Counties is primarily a gas
project. According to the operator, The Cumming Company, this project was
initiated by Mitchell Energy Corporation
20
--------------------------------------------------------------------------------
(subsequently bought out by Devon Energy) before the company focused its efforts
in the Barnett Shale. Mitchell Energy had established commercial production in
the Marble Falls formation. Our goal for this project was to exploit the
potential commercial production from this formation through a multi-well program
of up to seven wells.
Seven wells have been drilled by the operator, the Cumming Company, on the
Martex Prospect that we are involved in, the Kinder #1 Well, the Martex Ima
Bridges #2 Well, the Wimberley #3 Well, the Wimberley #5 Well, the Wimberley #7
Well, the Henderson #3 Well and the Stuart 60 #8 Well. The Ima #2 Well was
successfully completed and is producing oil and gas. Gas was discovered in the
Henderson #3 Well. Completion work on the Wimberley #3 Well was completed, it
was producing gas, but as December 31, 2005, it was no longer producing and
required another re-completion. The Wimberley #5 Well was drilled, bond logs
were run, it was fraced and has been successfully put on line for sales. The
Wimberley #7 Well has also been successfully put on line for sales. In January
2005, the Stuart 60 #8 Well was drilled and produced gas.
In October 2004, we entered into another agreement with the Cumming Company to
exchange our 1% working interest in the Kinder #1 Well, which a the time was
drilled but not fraced yet, and the Boley Well, which at the time was not yet
drilled, for a 1% interest in the Stuart 61 #1 and #6 Wells, neither of which
had been drilled yet. As we had paid for our share of costs on the Kinder #1
Well and the Boley Well, we did not have to pay any additional cost for the
Stuart 61 #1 and the Stuart 61 #6 Wells.
In July 2005, we were informed by Cumming that they were not proceeding to drill
the Stuart 61 #1 and the Stuart 61 #6 Wells and were canceling the exchange of
the Kinder #1 Well and the Boley #3 Well. Cumming refunded us $2,979 for the
Kinder Well and informed us that the Boley #3 Well would be exchanged for the
Stuart 61 #11 Well. The Stuart 61 #11 Well has not yet been drilled.
During the year ended December 31, 2006, the Wimberly #3 Well was reworked again
and produced gas. In September 2006, the Wimberly #3 Well was sold and we
received $742 in proceeds from this well.
We have paid all costs associated with the Martex Prospect and do not expect to
have any further cash commitments on this prospect.
Boyne Lake Prospect (Boyne Lake, Alberta, Canada)
In February 2006, we entered into a participation agreement with Premium
Petroleum Inc., whereby we received a 5% working interest before and a 3%
working interest after payout in the Boyne Lake Project, located in Boyne Lake,
Alberta, Canada. During the year ended December 31, 2006, we paid $38,940 for
our share of the costs of the test well. The well was successfully drilled and
cased and has been declared on "Tight-Hole Status." We were informed by the
operator that the well commenced production during the year ended December 31,
2006, and was producing approximately 150,000 cf/day of gas from the Viking
zone, however we have not received any revenue reports and we do not expect to
receive any material revenue from this well.
In May 2006, we entered into a second acquisition agreement with Premium
Petroleum Inc. to acquire drilling and production rights to other depths on the
Boyne Lake Prospect. Based on data collected throughout the drilling stage, it
was decided to purchase the rights for the land at other depths for $7,508.
21
--------------------------------------------------------------------------------
Patch Oilsands Limited Partnership (Oilsands of Alberta, Canada)
In February 2006, we entered into Letter of Intent to acquire a limited
partnership interest in the POLP and on May 31, 2006, we finalized our
acquisition of 104,071 limited partnership units in the POLP, by executing the
formal documentation (whereby we acquired units in the POLP) and paying cash of
$127,404. The POLP was formed with the goal of acquiring working interests
and/or leases in Alberta Oil Sands properties with the goal of developing or
selling the assets. Our 104,071 limited partnership units in the POLP are equal
to a 4.1667% net interest and a 5% working interest in the POLP's properties.
In order for us to maintain our 4.1667% net interest in the POLP, we must pay 5%
of the ongoing costs of the POLP in cash and 4.1667% of the ongoing costs paid
in common shares of another public company, who is the general partner of the
POLP. The general partner pays with common shares of their stock and we pay in
cash 4.1667% of the value of the general partners' share issuance.
Habanero is also a minority limited partner in the POLP, owning units equal to a
20.833% net interest in the POLP's properties. We are a related party to
Habanero, in that our CFO and Secretary, Negar Towfigh, is also a director of
Habanero. Patch was the general partner when the POLP was originally formed as
they owned units equal to a 75% net interest in the POLP's properties. One of
our consultants, David Stadnyk, was the president of Patch when we entered into
the agreement but he resigned as president on April 7, 2006. In March 2007,
Patch sold its interest in the POLP to Great Northern, who is now the general
partner of the POLP.
In February, 2006, the POLP entered into a farmout and participation agreement
with Bounty through the POLP, and thereby acquired an 80% working interest in a
120 hectacre block of land located in the Athabasca Oil Sands region of Alberta,
Canada. This land comprises of half the Leismer lease, Section 19, Township 77,
Range 9, W4M-1-256. The POLP also acquired an option to acquire up to an 80%
interest in an adjacent block of which is the other half of the Leismer lease,
Section 19, Township 77, Range 9, W4M-1-256 which was already acquired. The
POLP paid $2,600,000 CDN in cash and provided 175,000 common shares of Patch,
another public company, for the Leismer Oil Sands Prospect and the Option Land.
In order to exercise the option on the Option Land, the POLP had to pay
$1,300,000 CDN in cash and provide 100,000 common shares of Patch by April 1,
2007. We have not been able to ascertain if this option was exercised or not or
if the terms of payment had changed due to Patch selling its interest in the
POLP to Great Northern.
Bounty is the operator on the Leismer Oil Sands Prospect. During the year ended
December 31, 2006, the POLP paid CDN$512,575 to Bounty for drilling and seismic
work on the Leismer Oil Sands Prospect. Our share of this was 5%, or
approximately CDN$25,629, which we paid during the year ended December 31, 2006.
The Leismer test well 6-19-77-9W4 was drilled subsequent to the year ended
December 31, 2006. It was drilled to approximately 1230 feet in depth and
targeted the McMurray formation.
We do anticipate that the POLP will have Bounty perform additional work on the
Leismer Oil Sands Prospect in 2007 and we currently do not have any outstanding
cash calls on this prospect.
Pursuant to a Purchase Agreement dated April 13, 2006, the POLP also acquired
three oil sands leases in the Muskwa area of Alberta from the Alberta Crown,
which is the Alberta government, for a total of $473,856. In total, the Muskwa
Leases comprise 1,024 hectares. Each lease is 15-years, with annual
22
--------------------------------------------------------------------------------
rental payable to Alberta Crown of CAD $3.50 per hectare and there are also
royalties due to the Alberta Crown if the properties go into production. Prior
to a project's payout, the applicable royalty is 1% of the project's gross
revenue. Following a project's payout, the applicable royalty rate is the
greater of 25% of project net revenue, or 1% of gross revenue . We must pay our
proportionate share of 5% of the POLP's costs on the Muskwa Leases.
The locations of the Muskwa Leases are as follows:
Leismer lease Section 5, Township 78, Range 8W4-1-256;
Leismer lease Section 11, Township 78, Range 9W4-1-256; and
Muskwa Sections 12 & 13, Township 86, Range 25W4-2-512.
As of the date of this Report, no work has been conducted nor is there an
operator on any of the Muskwa Leases. It is at the sole discretion of POLP's
general partner, Great Northern Oilsands Inc., to decide when exploration will
be conducted on the Muskwa Leases and what any work program with encompass.
Office Space
We occupy office space, consisting of 1,870 square feet, provided by one of our
officers, Negar Towfigh, for a cost of CAD $1,343 per month.
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I bought 100.000 at .007 250.000 at .0075 i thing is game day also many people bought this share thinking they were making fast money i don't believe they're only 25.000.000 share in circulation i think they're about 450.000.000 share in circulation and the owner keep the rest to be in control of the company.
Premium petroleum is trade in Germany any idea if it's true Thu 26 Apr 2007 8:14pm ET You are here: Home > Stocks > Stock Search HOME BUSINESS INVESTING News Markets Industries Stocks
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Premium Petroleum Corp PPTL.F (Frankfurt)
Sector: Industry: View PPTL.F on other exchanges
As of 11:09 AM EST
EUR.01EUR Price Change
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Independent Research Profile Report
Previous Close 0.0030
Open 0.0030
Day High EUR.01
Day Low 0.0030
52-Week High EUR.05
52-Week Low 0.0030
Beta --
Volume 40.0K
Avg Volume 9.2K
Mkt Cap. 0.0
Shares Out 0.0
EPS (TTM) EUR.00
Div & Yield 0.00 (0.00%)
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Any idea about this stock exchange is it Premium Petroleum. Trade in other stock exchange .Wow a big over 200 % increase this friday.Ask Bruces?.Go to Reuter Press PPTL.F
My average is .013 cents per share
for my part i hold about 1.5% of the company i am
curius to see what it will happen soon if the share go at 10cents i will be very happy
For my part i'm very happy for the recovery of the share my average bought was at .o13 i was very nervous since some month now i hope it will stay that way.I look for all the good new if i found some i will send it to the board.
Merci,
Michel
good Irwin Resources Si gns the letter. Yahoo! Canada Mail
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Home > Finance News > Irwin Resources Inc. Signs...
Irwin Resources Inc. Signs Definitive Farmout Agreement With the Operator of the Boyne Lake Oil Sands Prospect, Located in Alberta, Canada
Wed Mar 21, 11:53 AM
Email Story IM Story Printable View VANCOUVER, British Columbia, March 21, 2007 (PRIME NEWSWIRE) -- Irwin Resources Inc. is pleased to announce the Company has signed a definitive Farmout Agreement on the Boyne Lake Oil Sands Prospect located in Alberta, Canada.
The terms of the Farmout Agreement provide for the Company to pay its share of the costs associated with a second well to be drilled, following the Discovery Well drilled to a depth of about 560 meters (1,836 feet). Completed in March 2006, the Discovery Well was subject to "tight hole" (confidentially) status. The Company will earn a 48% working interest in this Test Well, subject to the Company making certain payments against land acquisition, seismic, geophysical, geology engineering and legal costs. The Boyne Lake Oil Sands Prospect includes an Area of Mutual Interest equal to nine sections of land for a total of 5,760 acres.
As reported in the Company's news release on Mar 13, 2007, the Boyne Lake Oil Sands Prospect is located in the Cold Lake oils sands area, approximately 110 km (69 miles) north of Edmonton, Alberta, Canada.
Northern Alberta has been the subject of significant interest over the past years where major tar sand oil and Bitumen are being developed, are producing and, using current technology, are technically capable of recovering about 280-300 Gb (billion barrels per day).
About Irwin Resources Inc.
Irwin Resources is a junior resource company based in Vancouver, B.C. engaged in the acquisition, exploration and development of resources properties. The Company seeks out low-risk opportunities to develop positive cash flow from properties where prior exploration has been successful. Irwin Resources plans to generate growth primarily through efficient reinvestment of internally generated cash flow and through limited external financing, which it plans to utilize to build ancillary businesses.
Safe-Harbor Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Irwin Resources, Inc.
D. Smith
888-943-4362
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What a bad day at .005 it have a value of halve cents today
894,890,000 oustanding shares as of 2006-02-27
the company have a value of 4.474.450 u.s dollards.
Thanks for the answer the board is very importants there's alway's somebody who will answer to some news who are good or bad thank you very much islandkim1
Hi,I found othe news about the boyne lake projet Premium Petroleum Inc.there are working very much.
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12/1/2004 6:00:44 AM ET News Release Index
Quest Oil Acquires Boyne Creek Gas Prospect
ARLINGTON, Texas, Dec 01, 2004 (PRIMEZONE via COMTEX) --
Quest Oil Corporation, (OTCBB:QOIL) is pleased to announce that it has entered into a Farm-in Agreement to acquire 80% working interest in the Boyne Lake prospect, located North East of Edmonton, Alberta, Canada. A total of 5 locations can be drilled at the Boyne prospect and it is anticipated that the field will produce 1.5 mcf of gas per day / well from an estimated reserve of 14 billion cubic feet (BCF). The shallow depth of the reserve at 450M to 525M makes this a highly desirable development opportunity.
Quest's Boyne Lake prospect is located on the northern edge of the highly prolific gas prone Upper Mannville and Colony continental sequence and channel sand system fairways. Under current in-the-ground pricing of $.005 per cubic foot, the Boyne Lake prospect is expected to produce in the realm of $1.8 million CDN per well with a potential reserve value up to $70 million.
Under the terms of the Farm-in Agreement with Premium Petroleum Inc., Quest must drill, complete and tie-in one well at Boyne Creek to earn its 80% working interest. Following the required leasing, surveying, licensing and site preparation, Quest Oil plans to drill in the Boyne Lake prospect within 60 days. There is year round access to the property.
This agreement solidifies Quest Oil's strategy to acquire and participate in a multiple of smaller more mature oil and gas opportunities throughout the North American markets. Thereby, providing its shareholders with potentially more immediate and above average returns.
Quest Oil is also continuing with the completion of due diligence on the recently announced MOU to acquire all outstanding shares of Graham Petroleum, a mid-tier oil producer located in Salem, Illinois.
ABOUT QUEST OIL CORPORATION
Quest Oil Corporation's mission is to optimize the development of oil & gas resources out of its petroleum licenses in order to create the value for its shareholders. Quest Oil is actively negotiating prospects for exploring and producing oil and gas in Alberta, Canada and the historic Illinois Basin. Participating in the development of North American oil and gas resources is becoming more necessary in the upstream industry and is consistent with Quest's growth strategy going forward.
ON BEHALF OF THE BOARD Quest Oil Corporation
Rod Bartlett-President/CEO
To find out more about Quest Oil Corporation (OTCBB:QOIL), visit our website at www.questoil.com.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking-statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur.
SOURCE: Quest Oil
Quest Oil Corporation Cameron King Investor Relations (866) 264-7668
(C) 2004 PRIMEZONE, All rights reserved.
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Yes it seem to be relay to premium petroleum it look to be interesting now
Well hy everyone i think that i have found something intersting it is about Irwin Resources Inc.A news release came from Pemberton Cable a talk about a letter of intent betwin premium petroleum.Please go search internet Boyne lake prospect pemberton cable you will get the news .