Post by DBinDallas on Aug 9, 2004 8:11:55 GMT -5
no position. .037x.042
News for 'PRVB' - (Powder River Basin Gas Corp.-Announces Letter of Intent to Purchase Operating Company)
CALGARY, Alberta, Aug 9, 2004 (BUSINESS WIRE) -- Powder River Basin Gas Corp.
"PRVB" (OTCBB:PRVB) announces it has entered into a letter of intent to purchase
the outstanding shares of Renco Energy Inc. a U.S. subsidiary of Renco Resources
Inc.
The purchase will be in the form of a share exchange based on an independent
appraised value of the assets of Renco Energy Inc. The evaluations will be
completed by November 30th, 2004 with the closing to take place by January 31st,
2005.
The formal agreement will be subject to approval by the Directors and
Shareholders of both companies. The agreement will also be subject to approval
by all regulatory bodies relating to both companies.
PRVB and Renco will be sharing office and administrative facilities until the
transaction is completed.
Powder River Basin Gas Corp. is active in production and acquisitions of crude
oil and natural gas.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
This press release may contain "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such statements
are based on management's current expectations and are subject to a number of
factors and uncertainties which could cause actual results to differ materially
from those described herein. Although the Company believes that the expectations
in such statements are reasonable, there can be no assurance that such
expectations will prove to be correct.
SOURCE: Powder River Basin Gas Corp.
CONTACT: Powder River Basin Gas Corp.
Patrice Nazareno
Investor Relations
Toll Free: 1-866-515-7708
News for 'PRVB' - (Powder River Basin Gas Corp.-Announces Letter of Intent to Purchase Operating Company)
CALGARY, Alberta, Aug 9, 2004 (BUSINESS WIRE) -- Powder River Basin Gas Corp.
"PRVB" (OTCBB:PRVB) announces it has entered into a letter of intent to purchase
the outstanding shares of Renco Energy Inc. a U.S. subsidiary of Renco Resources
Inc.
The purchase will be in the form of a share exchange based on an independent
appraised value of the assets of Renco Energy Inc. The evaluations will be
completed by November 30th, 2004 with the closing to take place by January 31st,
2005.
The formal agreement will be subject to approval by the Directors and
Shareholders of both companies. The agreement will also be subject to approval
by all regulatory bodies relating to both companies.
PRVB and Renco will be sharing office and administrative facilities until the
transaction is completed.
Powder River Basin Gas Corp. is active in production and acquisitions of crude
oil and natural gas.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
This press release may contain "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such statements
are based on management's current expectations and are subject to a number of
factors and uncertainties which could cause actual results to differ materially
from those described herein. Although the Company believes that the expectations
in such statements are reasonable, there can be no assurance that such
expectations will prove to be correct.
SOURCE: Powder River Basin Gas Corp.
CONTACT: Powder River Basin Gas Corp.
Patrice Nazareno
Investor Relations
Toll Free: 1-866-515-7708