Isaac's Harbour Gold Exploration Inc. how is the company called today?

1 ANSWERS

1. Ali Abdullah
   

   Hi, Indocan Resources Inc. (OTC BB:IDCN) announced today that it has signed a letter of agreement with an Alberta oil and gas operating company pursuant to a Joint Venture Agreement it has at Heart Lake, Alberta whereby the oil & gas company partner shall provide 100% of the funding for the natural gas wells and be the operator of the property at Heart Lake, Alberta. On March 31, 1999 Indocan Resources announced it has acquired a 50% interest in 9247 acres of natural gas leases on First Nations property near Heart Lake. The JV partner, currently private, will be named shortly in a joint press release as it is in the final stages of a public stock listing which should be completed within the week. They will earn a full one-third share interest in the Heart Lake Project by providing all the funds and all the management of the drilling and operation of the gas field. Natural gas wells of this type should average $135,000 total cost per well completion. The JV partner is well respected in Alberta and other areas for their expertise in the oil and gas industry. They are a leading development company known for the opening of fields and the early development of leases. The management team is well liked and respected in the First Nations community and their senior management has a combined oil field experience of more than a century. Indocan president Jeffrey Bruhjell said, "The plan is to drill about twenty three wells, at least seven gas wells should be in by year's end and we will be selling the gas as we go. The first well should start in late May, taking less than a month to complete. The target is the Colony Sands zone about 450 meters (1500 feet) below surface." Indocan Resources is a Nevada corporation with interests in mining operations in Indonesia, the United States and Canada with active drilling on its Isaac's Harbour gold property in Nova Scotia. The company web site is updated often with current events at: www.indocan.com. This press release contains forward looking statements made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks, uncertainties, and other factors which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.

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