Partners Value Split Corp T.PVS.PR.G

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Priority Ventures Ltd PVS Shares issued 10,489,249 Dec 10 2001 close $.700 Tuesday Dec 11 2001 News Release Mr. Neil Swift reports Priority Ventures has attended recent meetings with Vancouver Island's pipeline owner, Centra Gas. Natural gas on Vancouver Island presently comes from northeast British Columbia. The costs to transport this gas such a long distance is considerable. Priority's coalbed gas project on Vancouver Island provides an opportunity for Centra Gas to avoid the high costs of long-distance transportation. Centra has offered to participate in Priority's project by permitting and installing gathering lines, provide production facilities including compression, and purchase gas that Priority wishes to sell. This proposal by Centra would allow Priority to devote more capital and corporate resources toward development drilling and target identification. Moreover, Centra's core strengths as a company are pipeline installation, gas distribution and marketing. Priority has recently met with several large landowners in Priority's area of interest. Discussions to date with two of the landowners will likely increase the scale of Priority's play dramatically. The details of which will be disclosed upon completion of formal agreements. Priority's well authorization to drill coalbed production wells on Vancouver Island is now into day 66 of the approval process. British Columbia's so-called one-window approval process has now become four windows. The different government bodies that Priority has had to receive approval from are the Oil and Gas Commission, Workers Compensation Board, Land Reserve Commission and the Comox Valley Regional District. Priority has been assured of a more streamlined process for subsequent well authorizations. Hopefully time will prove such assurances well founded. (c) Copyright 2001 Canjex Publishing Ltd. https://www.canada-stockwatch.com