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| | PRESS RELEASE Brownstone Enters into Oil & Gas Agreement with Dejour Energy and Announces Proposed $12 Million ... (Site not responding. Last check: ) |
 | | In addition, Brownstone will pay Dejour a fee equal to 2.5% of the US$10,185,626.80 participation fee, payable by issuing 188,623 common shares of Brownstone, as well as grant Dejour a 2.5% back-in right, which, upon well payout, on a well-by-well basis, will reduce Brownstone's to 10% on a 77.5% net revenue interest. |
 | | Brownstone has been advised by Dejour and Retamco and that drilling is expected to commence late 2006. |
 | | Brownstone also announced today that it is proposing to complete a non-brokered private placement for up to 8,000,000 units (the "Units") at a price of $1.50 per Unit for possible aggregate gross proceeds of $12,000,000. |
| www.marketwire.com /mw/release_html_b1?release_id=139109 (1013 words) |
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