SALT LAKE CITY--(BUSINESS WIRE)--Nov. 18, 2004-- Apex Resources Group Inc. (OTC BB: APXR) announces drilling approved for Alaska Oil Reserve. The U.S. Interior Department on Friday gave final approval to a plan by ConocoPhillips and partner Anadarko Petroleum Corp. to develop five tracts around the oil-rich Alpine field on Alaska's North Slope. The department's Bureau of Land Management (BLM) authorized the first commercial development of the National Petroleum Reserve in Alaska, allowing the companies to go forward with developing the tracts, which are located in the northeastern corner of the reserve. Production from these fields, which together hold more than 330 million barrels of oil, will start by 2006, according to the Bureau of Land Management. They will supplement production from the Alpine fields, which hold 429 million barrels and have a daily oil output of about 100,000 barrels. The petroleum reserve, the size of Indiana, was set aside in 1923 for its energy potential, but until recently it has been ignored in favor of the region to the east, around the giant Prudhoe Bay field. The Bush administration believes the new Congress next year will approve oil drilling in the separate Arctic National Wildlife Refuge, which may hold up to 16 billion barrels of crude. On October 13, 2004, Apex Resources Group Inc. announced the application for the $7 Billion MacKenzie Valley Pipeline had been filed with the regulatory bodies. The massive application has been in the works for two years and is now in the hands of the National Energy Board of Canada. On October 26, Apex Resources Group Inc. announced further development of a $20 Billion Dollar Alaska Highway Gas Pipeline from Alaska through Canada to the lower 48 States. The Canadian Beaufort Sea Area, which borders Alaska's North Slope, is estimated by the National Energy Board of Canada to contain total reserves of 1.01 billion barrels of oil and 9.00 trillion cubic feet of gas. In June 1997, Apex Resources Group Inc. purchased a 3.745% working interest in the Beaufort Sea Area Well known as Itiyok 1-27 consisting of 640 acres containing reserves of 108 billion cubic feet of gas and recoverable oil reserves of 8,976 M barrels. This well is located in the centre of the largest offshore field of Amauligak which was discovered in 1984. The best current estimate of the total discovered resource in the basin is 1.01 billion barrels of oil and 9.00 trillion cubic feet of gas according to the National Energy Board. With oil ranging at $50.00 per barrel and gas close to $7.00 per 1,000 cubic feet, Apex interest in proven reserves would be 45 Million Dollars and with an additional potential to be drilled out would represent 323 Million Dollars. Once the pipeline is completed and on-line, it will be a tremendous cash flow to Apex Resources Group Inc. Earlier this year Apex Resources received correspondence from Imperial Oil Resources outlining proposed revisions to the Beaufort Sea Operating Agreement intended to simplify and clarify the agreement for future operations. Management reviewed the proposed revisions and agreed with the general principals. Apex operating partners in the Beaufort Sea Project are: -0- *T Apex Resources Group Inc. (OTC BB: APXR) Anadarko Canada Corporation (NYSE: APC) BP Canada Energy Resources Company BP PLC (NYSE: BP) BRL Enterprises Inc. Canalands Resources Corporation Chevron Canada Resources (NYSE: CVX) CanNat Resources Inc. (TSE: CNQ) ConocoPhillips Canada Resources Corp. (NYSE: COP) Canadian Forest Oil Ltd. (NYSE: FST) Devon ARL Corporation (NYSE: DVN) EnCana Oil & Gas Partnership (TSE: ECA) ExxonMobil Canada Propeties (NYSE: XOM) Imperial Oil Resources (TSE: IMO) Mosbacher Operating Ltd. Petro-Canada (TSE: PCA) Shell Canada Limited (TSE: SHC) Talisman Energy Inc. (TSE: TSX) Trans Dominion Energy Corp. (NASDAQ: TRLG) 677862 Alberta Ltd. (TSE: ACOX) *T
These are significant discoveries and the need to transport these reserves via a pipeline through Canada to the Southern States is paramount. An 8,000 page application has been filed with regulators by a consortium to build a $7 Billion Pipeline down the Mackenzie Valley. The consortium consists of Imperial Oil Resources (TSE: IMO), ConocoPhillips (NYSE: COP), Shell Canada Limited (TSE: SHC) and the Aboriginal Pipeline Group. Within days of this application being filed, the US Congress approved $18 Billion of loan guarantees to construct a $20 Billion pipeline to transport gas from Alaska via Canada to the lower 48 States. With the U.S. Interior Department on Friday, November 12, 2004 finally approving a plan by ConocoPhillips and partner Anadarko Petroleum Corp. to develop five tracts around the oil-rich Alpine field on Alaska's North Slope and the application for the $7 Billion Mackenzie Valley Pipeline and also the further development of the $20 Billion Dollar Alaska Highway Gas Pipeline, drilling and exploration activities will become more feasible. This will lead to an increase in the value of leaseholds and working interests, thus greatly increasing Apex Resources Group Inc. 3.745% working interest in the Beaufort Sea Well Area. -0- *T By the Board of Directors, APEX RESOURCES GROUP INC. Investor Relations: Cynthia DeMonte/DeMonte Associates 575 Madison Avenue - Suite 1006 New York, New York 10022 Tel: 212-605-0525 e-mail: cdemonte@aol.com www.demonte.com www.ApexResourcesGroup.com John M. Hickey Director *T
The foregoing contains forward-looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, such words a "may", "will", "believes", "anticipates", "estimates", "continue", or comparable terminology intends to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including, but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group Inc.
KEYWORD: NORTH AMERICA ALASKA UTAH UNITED STATES CANADA INDUSTRY KEYWORD: ENERGY OIL/GAS CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE CONTRACT/AGREEMENT PRODUCT/SERVICE SOURCE: Apex Resources Group Inc.
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Apex Resources to Benefit from Offer to Jump-Start $20 Billion Dollar Alaska Highway Natural Gas Pipeline Wednesday November 10, 8:00 am ET Governor Frank Murkowski Makes Offers Energy Giants to Expedite Construction
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 10, 2004-- Apex Resources Group, Inc. (OTCBB:APXR - News), focused on domestic petroleum, mining and land resources through the acquisition of assets and cash flow projects, today announced that the Company could benefit significantly by the recently announced offer made by Alaska Governor Frank Murkowski to buy a stake in the proposed Alaska Natural Gas Pipeline which could provide approximately 7% of U.S. gas needs. Alaska's North Slope, potentially holds as much as 100 trillion cubic feet of gas, including more than 30 trillion proven cubic feet of gas re-injected back into oil reservoirs in Prudhoe Bay. The Canadian Beaufort Sea Area, which borders Alaska's North Slope, is estimated by the National Energy Board, to contain total reserves of 1.01 billion barrels of oil and 9.00 trillion cubic feet of gas. In June 1997, Apex Resources Group Inc. purchased a 3.745% working interest in the Beaufort Sea Area Well known as Itiyok 1-27 consisting of 640 acres containing reserves of 108 Billion cubic feet of gas and recoverable oil reserves of 8.9 MM barrels of oil.
Earlier this year Apex Resources received correspondence from Imperial Oil Resources outlining proposed revisions to the Beaufort Sea Operating Agreement intended to simplify and clarify the agreement for future operations. Management reviewed the proposed revisions and agreed with the general principals. Apex operating partners in the Beaufort Sea Project are:
Apex Resources Group Inc. (OTC BB-APXR) Anadarko Canada Corporation (NYSE: APC - News) BP Canada Energy Resources Company BP PLC (NYSE: BP - News) BRL Enterprises Inc. Canalands Resources Corporation Chevron Canada Resources (NYSE: CVX - News) CanNat Resources Inc. (TSE: CNQ - News) ConocoPhillips Canada Resources Corp. (NYSE: COP - News) Canadian Forest Oil Ltd. (NYSE: FST - News) Devon ARL Corporation (NYSE: DVN - News) EnCana Oil & Gas Partnership (TSE: ECA - News) ExxonMobil Canada Propeties (NYSE: XOM - News) Imperial Oil Resources (TSE: IMO - News) Mosbacher Operating Ltd. Petro-Canada (TSE: PCA - News) Shell Canada Limited (TSE: SHC - News) Talisman Energy Inc. (TSE: TSX - News) Trans Dominion Energy Corp. (NASDAQ: TRLG - News) 677862 Alberta Ltd. (TSE: ACOX - News)
These are significant discoveries and the need to transport these reserves via a pipeline through Canada to the Southern States is paramount. An 8,000 page application has been filed with regulators by a consortium to build a $7 Billion Pipeline down the Mackenzie Valley. The consortium consists of Imperial Oil Resources (TSE: IMO - News), ConocoPhillips (NYSE: COP - News), Shell Canada Limited (TSE: SHC - News) and the Aboriginal Pipeline Group. Within days of this application being filed, the US Congress approved $18 Billion of loan guarantees to construct a $20 Billion pipeline to transport gas from Alaska via Canada to the lower 48 States.
John Hickey, Apex Director, commented, "Alaska's bid for a stake in the pipeline certainly reinforces our belief in the value of the Apex's Beaufort Sea holdings and the future of domestic oil and gas production. The acceptance of this offer would greatly benefit Apex and its operating partners in spearheading our efforts and bring long-term significant value to our shareholders."
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Apex Resources Commences Aggressive Investor and Public Relations Program Monday November 8, 2:31 pm ET -Recent Milestones Peak Investment Community Attention along with Operating Partnerships with Chevron Canada Resources, ExxonMobil Canada Properties and Canadian Forest Oil-
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 8, 2004-- Apex Resources Group, Inc. (OTC BB:APXR - News), focused on domestic petroleum, mining and land resources through the acquisition of assets and cash flow projects, today announced that the Company is launching an aggressive investor and public relations campaign in response to increasing interest among the investment community following recent news announcements. The announcements include:
1. Beaufort Sea, Gas and Oil Discoveries of which Apex purchased a 3.745% interest is escalating and Apex signed operating agreements with, among others, Chevron Canada Resources (NYSE:CVX - News), ExxonMobil Canada Properties (NYSE:XOM - News) and Canadian Forest Oil Ltd. (NYSE:FST - News);
2. An application for the $7 billion Mackenzie Valley natural gas pipeline was filed with the National Energy Board for a pipeline which is paramount to transport gas from the Arctic through Canada to the Southern United States;
3. Within days of the application filing, the U.S. Congress approved $18 billion of loan guarantees to construct a $20 billion natural gas pipeline to transport gas from Alaska to Canada and the lower 48 states;
4. With oil over $50.00 per barrel and gas close to $7.00 per 1,000 cubic feet, Apex's interest in proven resources would be $45 million and with additional to be drilled out could represent an additional $323 million.
Cynthia DeMonte, President of DeMonte Associates, Apex's IR/PR firm, commented, "The investments Apex had the foresight to make in properties years ago are bearing fruit today. Clearly, Apex is a seriously undervalued entity in light of the current focus by the public, regulatory and government agencies for the urgent need to tap domestic resources for fuel. Apex's stock price, in any peer group analysis, does not reflect the Company's current status nor its potential. I greatly look forward to bringing the company the attention it truly deserves."
"Apex is at a critical juncture in its growth and is working with most esteemed operating partners. We are most enthused to now have a firm in place that will broaden our recognition with investors and the media," stated John Hickey, Director.
Contacts:
By the Board of Directors, Apex Resources Group, Inc. Investor Relations: Cynthia DeMonte/DeMonte Associates 575 Madison Avenue - Suite 1006 New York, New York 10022 Tel: 212-605-0525 e-mail: cdemonte@aol.com www.demonte.com www.ApexResourcesGroup.com John M. Hickey Director
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION For a complete understanding, this Management Discussion and Analysis should be read in conjunction with Part I- Item 1. Financial Statements to this Form 10- QSB and the Annual Report of the Company on Form 10-KSB for the year ended June 30, 2004.
General
The Company is in the development stage and engaged in the acquisition of interests in gas and oil properties and the acquisition of interests in real estate. The Company has not been engaged in the production of any gas and oil. For a detailed description of the oil and gas and real estate holding of the Company, please see the Annual Report of the Company filed on Form 10-KSB for the year ended June 30, 2004, and the subsequent Quarterly Reports filed by the Company on Form 10-QSB. Following is a brief description of relevant events that occurred during the quarter ended September 30, 2004.
-15- Oil and Gas Interests
Plaquemines Parish, Louisiana
During the quarter, Royal "T" Oil, the operator of well #1 of the Bastian Bay State Lease 16152 at Plaquemines Parish, informed the Company that the well has been shut-in to build pressure. It is anticipated that the well will be reopened in early 2005. To date, this well has not been put into production. The Company owns a 6.25% working interest in this well.
Manahuilla Creek Field , Texas
During the quarter, PB Energy Partners, the operator of the BB Gayle #1 gas well at Manahuilla Creek in Goliad, Texas, notified the Company that the well had been drilled and perforated. The well did not prove to be of commercial value. The Company owns a 1.875% of 75% participating working interest in this gas well.
Henry Dome Prospect, Texas
During the quarter, the Company acquired 2.5 participation units in the Henry Dome Prospect in McMullen County, Texas, for $12,500. These units give the Company a 1.875% working interest in the re-entry and completion of the first well prospect in McMullen County, Texas. The manager of this prospect is PB Energy USA, Inc. The operator will be Dolphin Petroleum, LP of San Antonio Texas. All operations will be conducted in accordance with the provisions of an AAPL Form 610-1989 Model Form of Operating Agreement. The amount paid by the Company is refundable, less reasonable costs, in the event the well, for any reason is not spudded on or before December 31, 2004.
Northstar Wallis Prospect, Texas
During the quarter, the Company purchased one unit (1%) of the Northstar Wallis Well #1 Joint Venture in Victoria County, Texas for a cost of $25,600 for drilling and testing and a completion cost of $6,000 after the well has been logged and proven as a commercial well. The unit gives the Company a 1% working interest in the Wallis Well #1. This well, which will be located in the Wilcox trend, will be drilled to a depth of 10,000 feet. Northstar Energy, Inc., is the operator and Managing Venturer of the Joint Venture. Drilling of the well will commence in late November 2004, and is expected to be completed during December 2004.
Real Estate Interests
Cowichan Lake, Victoria, B.C.
During the quarter the Company acquired two undeveloped lots on Upper Point Ideal Road in the Cowichan Lake District in Victoria B.C. The total acreage of the two lots is approximately 1.86 acres. Following a down payment of $16,000 the Company owes a balance of $171,445 to purchase these lots. The Company is required to make a payment of $45,340 during December 2004, and will pay off the balance of the purchase price by making monthly payments of $697 for 25 years. The rate of interest to be paid is 9% per annum. The Company acquired these properties for investment purposes and has no present intent to develop or improve these parcels.
-16- mortgages. The Company paid a total down payment of $20,000 and will make total monthly payments of $915.22 for 25 years. The Company acquired these properties for investment purposes and has no present intent to develop or improve these parcels.
The Company also owns approximately 4,854,630 or 7% of the outstanding common shares of Omega Ventures Group, Inc., a corporation whose common stock is traded on the Over-the-Counter Bulletin Board, stock symbol "OMGV."
Liquidity and Capital Resources
During the three months ended September 30, 2004, the Company financed its operations primarily through the issuance of Company securities. During the quarter, the Company issued 10,929,285 shares of its common stock in satisfaction of debts, expenses, services and for cash. The shares were primarily valued at $0.2 per share, with total value for the shares received equaling $214,586. On September 30, 2004, the Company had cash on hand of $14,733. The Company will need additional working capital for its future planned activities and to service its debt. The Company currently does not have sufficient cash reserves or cash flow from operations to meet its cash requirements. This raises substantial doubt about the Company's ability to continue as a going concern. Continuation of the Company as a going concern is dependent upon obtaining sufficient working capital to be successful in that effort. Management of the Company has developed a strategy, that it believes will accomplish this objective, through additional short term loans, and equity funding, which may enable the Company to operate for the coming year. The Company, however, has no firm commitments from any party to provide it additional funding. Without some source of additional funds, it is unlikely the Company will have sufficient funds to continue operations for the next twelve months. There is no guarantee the Company will be successful in implementing its strategy to obtain sufficient working capital to continue operations for the next twelve months.
The Company has plans to further develop its oil and gas properties, which will require all of its current working capital.
Results of Operations
Comparison of the quarter ended September 30, 2004 and 2003
The Company sustained a net loss of $166,563 in the quarter ended September 20, 2004, compared to a loss of $69,740 for the quarter ended September 30, 2003. This increase in loss was primarily the result of the Company being much more active in its business operations in the three months ended September 30, 2004, compared to the same period of 2003, as shown in the following comparison of expenses:
-17-
September 30, 2004 September 30, 2003 ------------------ ------------------
Travel $ 3,467 $ 17,665 Office Expenses 26,427 18,921 Professional 760 12,587 Consultants 77,147 13,881 Promotional 4,010 -- Rent 13,100 -- Exploration and Development - Oil and Gas 38,100 -- Other 7,499 1,158 -------- --------
$170,510 $ 64,212 -------- --------
The significant increases in exploration and development and consultant fees are primarily the result of the Company undertaking more active oil and gas exploration activities in the three months ended September 30, 2004 compared to the same period 2003. The Company has no employees, rather management retains consultants to provide the services the Company needs. We anticipate consultant expenses to continue at about the same level in the upcoming quarter as the Company continues active oil and gas exploration activities. Depending on the results of exploration currently being conducted, exploration and development expenses could also continue at about the same level during the upcoming quarter.
Non operating revenue increased to $9,947 in the three months ended September 30, 2004, compared to $1,472 in the three months ended September 30, 2003.
Posts: 196 | From: Moncton, NB Canada | Registered: Nov 2003
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SALT LAKE CITY--(BUSINESS WIRE)--Nov. 24, 2004--Apex Resources Group Inc. (OTC BB: APXR - News) Bush Initiative to Propel Alaskan Drilling Initiatives Positioning Apex for Significant Momentum and Increasing Market Awareness "The Alaskan Black Gold Rush of 2005 is Starting" Apex Resources Group Inc. (OTC BB: APXR - News), today announced that odds for President Bush's energy agenda have significantly improved as his No. 1 energy priority - opening an oil rich but environmentally sensitive Alaska wildlife refuge to drilling (reported by Associated Press).
House and Senate Republicans said last week they plan to push early next year for legislation to drill in the Arctic National Wildlife Refuse, and they predict success, given the 55-44-1 GOP Senate majority in the next Congress.
Senator Peter Domenici, Chairman of the Senate Energy and Natural Resources Committee, said he will press to open the coastal plain of the wildlife refuge as part of budget deliberations early next year. Refuge drilling qualifies as a budget measure because it will generate income for the government from oil companies.
"With oil trading at nearly $50.00 a barrel, the case for Alaska National Wildlife Rescue (ANWR) is more compelling than ever," Domenici stated. "We have the technology to develop oil without harming wildlife."
Geologists believe the refuge holds 11 billion barrels of oil.
"Clearly this initiative increases Apex' property value in the Beaufort Sea area and offers great potential as a well-undervalued investment opportunity," stated John Hickey, Director.
"Senate support of the Alaska National Wildlife Rescue and the Administration placing No. 1 priority on energy (oil and gas) and environmental safety, firmly places a large portion our nations' future reserves of energy from domestic fields. Additionally, environmental issues being the forefront of activity, potentially eliminates many tremendous obstacles that could face us. Finally, APEX drilling properties are located adjacent to the Alaskan National Wildlife Reserve, rich with oil and gas and with the passing of this legislation, an environmentally sound region," Hickey concluded.
This follows Apex' recent announcement concerning the Bureau of Land Management (BLM) authorizing the first commercial development of the National Petroleum Reserve in Alaska, allowing the companies to go forward with developing the tracts, which are located in the northeastern corner of the reserve. Production from these fields, which together hold more than 330 million barrels of oil, will start by 2006, according to the Bureau of Land Management. They will supplement production from the Alpine fields, which hold 429 million barrels and have a daily oil output of about 100,000 barrels.
Highlights include:
1. The petroleum reserve, the size of Indiana, was set aside in 1923 for its energy potential, but until recently it has been ignored in favor of the region to the east, around the giant Prudhoe Bay field.
2. Apex announced the application for the $7 Billion MacKenzie Valley Pipeline had been filed with the regulatory bodies. The massive application has been in the works for two years and is now in the hands of the National Energy Board of Canada.
3. On Oct. 26th, Apex Resources Group Inc. announced further development of a $20 Billion Dollar Alaska Highway Gas Pipeline from Alaska through Canada to the lower 48 States.
4. The Canadian Beaufort Sea Area, which borders Alaska's North Slope, is estimated by the National Energy Board of Canada, to contain total reserves of 1.01 billion barrels of oil and 9.00 trillion cubic feet of gas.
5. In June 1997, Apex Resources Group Inc. purchased a 3.745% working interest in the Beaufort Sea Area Well known as Itiyok 1-27 consisting of 640 acres containing reserves of 108 billion cubic feet of gas and recoverable oil reserves of 8,976 M barrels. The best current estimate of the total discovered resource in the basin is 1.01 billion barrels of oil and 9.00 trillion cubic feet of gas according to the National Energy Board.
6. With the U.S. Interior Department on Friday November 12, 2004 finally approving a plan by ConocoPhillips and partner Anadarko Petroleum Corp. to develop five tracts around the oil-rich Alpine field on Alaska's North Slope and the application for the $7 Billion Mackenzie Valley Pipeline and also the further development of the $20 Billion Dollar Alaska Highway Gas Pipeline, drilling and exploration activities will become more feasible. This will lead to an increase in the value of leaseholds and working interests, thus greatly increasing Apex Resources Group Inc. 3.745% working interest in the Beaufort Sea Well Area.
The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such words a "may", "will", "believes", "anticipates", "estimates", "continue", or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including, but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group Inc.
Apex Resources Group Inc. Reports on Update of Alaskan National Petroleum Reserve New Estimates Include 13.1 and 83.2 Trillion Cubic Feet of Natural Gas Within the National Petroleum Reserve SALT LAKE CITY, Nov 30, 2004 (BUSINESS WIRE) -- Apex Resources Group Inc. (OTC BB: APXR), today reported on an update provided in the U.S. Geological Survey regarding the National Petroleum Reserve in Alaska - a 23 million acre site on the northern coast. The new report builds upon assessments completed in 1980 by using current exploration and development strategies and economic analysis of these resources.
The assessment estimates there are between 5.9 and 13.2 billion barrels of technically recoverable oil and 39.1 and 83.2 trillion cubic feet of natural gas on federal lands within the National Petroleum Reserve in Alaska.
Citing the report specifically: "When the U.S. moves on Alaskan Natural reserves, it will do so quickly....with the Prudhoe Bay Unit representing significant gas reserves." "Although there are numerous reserves/resources estimates for the MacKenzie Delta, the size of the treasure is still an open book."
This report was authored prior to the Company's announcement concerning the Bureau of Land Management (BLM) authorizing the first commercial development of the National Petroleum Reserve in Alaska, allowing the companies to go forward with developing the tracts, which are located in the northeastern corner of the reserve.
The U.S. Geological Survey providing its first comprehensive update in over 20 years on the state of the National Petroleum Reserve in Alaska clearly indicates that activity, long thought lost and forgotten, is now at the forefront of domestic activities, as we move ahead to become independent of foreign petroleum as the country's sole source of fuel for the future.
"With the filing of the application for the $7 billion Mackenzie Valley Pipeline, the further development of a $20 billion Alaska Highway Gas Pipeline, the approval of a U.S. Interior Department of a plan by ConocoPhillips and Anadarkco Petroleum to develop five tracts around the oil-rich Alpine field North Slope, and the recent environmental drilling initiative in the Artic National Wildlife Reserve, Apex is witnessing its investments and efforts come to fruition," stated John Hickey, Director.
By the Board of Directors, APEX RESOURCES GROUP INC. Investor Relations: Cynthia DeMonte/DeMonte Associates 575 Madison Avenue - Suite 1006 New York, New York 10022 Tel: 212-605-0525 e-mail: cdemonte@aol.com
John M. Hickey Director The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such words a "may", "will", "believes", "anticipates", "estimates", "continue", or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including, but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group Inc.
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