ALDERSHOT AGREES TO ACQUIRE INTRACOASTAL REFINING
Aldershot Resources Ltd said
it signed an interim agreement to acquire 100 pct of the
outstanding shares of Intracoastal Refining Inc of Conroe,
Texas.
    Aldershot will pay a certain number of shares of common
stock based on book value, and up to a maximum of one mln
shares under a formula linked to the next five years' pre-tax
net revenues.
    The transaction is subject to completion of a definitive
agreement and to regulatory approval.
 Reuter
