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Gordon Creek Energy


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News Releases
 April 07, 2006
News Release

 MBA Resources Corp. (the "Company") has been advised that certain shareholders of MBA (the "Shareholders"), have acquired by way of Private Placement in accordance with the Policies of the TSX Venture Exchange, Convertible Debentures with share purchase warrants (the "Debenture Warrants") and Units, each Unit comprised of 1 common share and one share purchase warrant of the Company. The following table sets out the names of the Shareholders, the amount of Debentures, Debenture Warrants and Units acquired by each.

Name

Debentures

Debenture

Warrants

Units

Deemed Ownership *

% Deemed Ownership **

Cameron White

Surrey , BC

$60,000

324,324

1,180,000

4,761,529

 

21.6%

Timothy Gamble

Vancouver , BC

$200,000

1,081,081

1,000,000

6,872,998

 

30%

Reg Worthington

Bali , Indonesia

$300,000

1,621,622

500,000

6,760,141

 

29.1%

Stephen Cheikes

West Vancouver BC

$400,000

2,162,162

0

6,742,556

 

29%


• Deemed Ownership includes all shares deemed to be owned assuming full conversion of Debentures and exercise of all warrants and incentive stock options by the each Shareholder, directly or indirectly.
• % Deemed Ownership is calculated on a partially diluted basis assuming that no other shareholders exercise or convert debentures, warrants or options.

All Shareholders have advised that their current intentions are that all of the securities were acquired for investment purposes but the Shareholders, or any one of them may, from time to time, reconsider his holdings in the Company and, as circumstances dictate, may increase or decrease his position in the Company.

The Company is further advised that reports relating to these matters are being filed with the British Columbia and Alberta Securities Commissions by the Shareholders. A copy of the reports may be obtained from the Company on behalf of the Shareholders by calling 604-707-0373.

MBA RESOURCES CORP.

W.D. Cameron White
President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
 
 

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