Business
Softrock Minerals releases final Audited Statements, MDA and Reserves
Softrock Minerals releases final Audited Statements, MDA and Reserves.
About this update from Criterium Energy Ltd
[{"type":"text","content":"\n\n\n\n\nCALGARY, May 4 /CNW/ - Softrock Minerals Ltd (SFT on TSX Venture\nExchange) has released its Audited Financial Statements, MDA and independent\nOil Reserve report.\nHighlights of the reports are the success of Softrock's 30% interest in\nan offset to the Saskatchewan Sparky heavy oil field and the subsequent\noptioning of four or five more locations. Also no payments or fees were made\nto any Director or insider, and after year-end the private placement of two\nmillion shares at ten cents with a two year one-half warrant for $0.14 per\nshare, as well as issuing 150,000 shares and warrants at the same prices for\ndebt.\nWith respect to the independent reserve estimate filed under (NI 51-101)\nby the same engineers that filed last year's report the estimated value of\nfuture net revenue of proved plus probable reserves of all properties before\nincome tax using a forecast price and a 10% discount was $369,000 compared to\nlast year's $123,000 an increase of 300 per cent. Using the same reserves and\ndiscount but using a constant price scenario the future net revenue was\n$286,000 versus last year's $90,000, an increase of 318 per cent.\nSoftrock's annual general meeting is planned for Wednesday June 28, 2006\nat 10:00 am at the Ramada Hotel on 708-8 Ave SW in Calgary with all\nshareholders receiving notices and copies but meantime anyone will be able to\naccess the statements, and/or MDA and/or NI 51-101 by visiting Softrock's\nwebsite at softrockminerals.com or opening up SEDAR at site www.sedar.com\n\nOn behalf of the Board of Directors\nThe Honourable Nick Taylor, President and Director\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n%SEDAR: 00005001E\n\n\n","length":1817,"tagName":"div"}]