* 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 26, 2010 07:00
Boyuan signs new construction project contract in China's Shandong Province valued at US $22 million
TORONTO, Jan. 26 /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 $22 million to develop a six-storey, 200,000 square meter commercial complex in the city of Weifang, in China's Shandong province.
"Since deciding to expand into Shandong, we have been awarded three major commercial projects, each with an incrementally larger mandate and higher dollar value," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "The new project win, one of our largest to date, will allow us to add to our growing reputation in the region and serve as another showcase for our technical expertise and construction capabilities."
The commercial complex, which will include furniture manufacturers and retailers, is expected to be completed by the end of 2010. With today's contract award, Boyuan's aggregate value of contracts signed thus far in Shandong is US $52.6 million.
Shandong is one of China's most economically diversified provinces with high concentration of manufacturing as well as oil and gas production activities.
