* working capital of $0.12 per share with no LT debt
* multiple light oil well drilling locations in Viewfield, SK
* carried interests with no drilling costs
* natural gas at Pembina – 10-12 additional locations identified
Transmitted by CNW Group on : January 7, 2010 07:00
Boyuan signs new construction project contract valued at US $19 million
TORONTO, Jan. 7 /CNW/ - Boyuan Construction Group, Inc. (TSX-V: BOY & BOY.DB), a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has been awarded a contract valued at US $19 million to develop a 16-storey, 40,000 square meter commercial building in the city of Qingzhou, located in China's Shandong province.
"Our decision to expand into Shandong given its significant market potential has been validated by this project win, one of the biggest contracts we have been awarded to date," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "Our successful bid was due, in large part, to our reputation for delivering quality projects on time and budget as well as to growing recognition of our strong technical and engineering capabilities."
The project, which is expected to be completed in March, 2011, will result in one of the largest commercial buildings ever to be developed in Qingzhou.
