ROC extends offer for Gulfstream

Roc Oil Company Limited announced that, through its wholly-owned subsidiary Roc Oil (Middle East) Pty Limited, it has extended the expiry time of its offer to purchase 25,750,000 common shares (40%) of Gulfstream Resources Canada Limited for $1.10 per share to 6:00 p.m. (Calgary time) on June 19, 2001, unless withdrawn or further extended. A notice of extension will be mailed to the Gulfstream shareholders shortly.

ROC has gone on record to the effect that it is prepared to consider alternative co-operative strategies in relation to Gulfstream including the possibility of injecting fresh capital directly into the company, subject to reviewing information in the data room. Despite this, ROC's specific requests to access the data room and its attempts to establish a dialogue with Gulfstream have been rejected.


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