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Filed pursuant to Rule 424(b)(3)
SEC File No. 333-85237
PRESS ANNOUNCEMENT
AMERICAN RIVERS OIL COMPANY ("AROC")
RECOMMENDED OFFER FOR
ALLIANCE RESOURCES PLC ("ALLIANCE")
(November 22, 1999)
AROC is pleased to announce that as at 3:00 p.m. on 19th November, 1999 pursuant
to the recommended offer made by AROC for the whole of the issued share capital
of Alliance (the "Offer") acceptances in respect of 34,446,593 Alliance shares,
representing 72.53% of the issued share capital of Alliance had been received.
The Offer is conditional on the holders of at least a majority of the Alliance
shares having accepted the Offer. The Offer will remain open for further
acceptances until 7th December, 1999 when it is intended to declare the Offer
unconditional in all respects. Alliance shareholders who accept the Offer will
receive one share of AROC common stock for each ordinary share of Alliance held.
If AROC receives acceptances in respect of 90% or more of Alliance's issued
share capital, AROC intends to pursue a process of compulsory acquisition of the
remaining Alliance shares under sections 429-430F of the Companies Act 1985.
AROC is also pleased to announce that on 18th November 1999 the shareholders of
American Rivers Oil Company ("American Rivers"), a company incorporated in
Wyoming, have approved the merger of American Rivers with a newly incorporated
subsidiary of AROC. The merger was approved by the holders of more than 67% of
the outstanding shares of American Rivers, whose shares will upon closing each
be converted into the right to receive 0.11 shares of the common stock of AROC.
The directors of AROC and Alliance accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
directors of AROC and Alliance (who have taken all reasonable care to ensure
that such is the case), the information contained in this announcement for which
they accept responsibility is in accordance with the facts and does not omit
anything likely to affect the import of such information.
For further details contact:
Alliance Resources PLC American Rivers Oil Company
Jak Keenan Karlton Terry
Chairman and Managing Director President
4200 E Skelly Drive 700 East 9th Street
Tulsa Denver
Oklahoma Colorado 80203
USA USA
Tel: 001 918 491 1100 Tel: 001 303 382 1117
