UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 3, 2004
CHEETAH OIL & GAS LTD.
(Formerly Bio-American Capital Corporation)
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(Exact name of registrant as specified in its charter)
Nevada
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(State of Incorporation)
000-26907
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(Commission File Number)
93-1118938
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(I.R.S. Employer Identification Number)
498 Ellis Street, 2nd Floor
Penticton, British Columbia V2A 4M2 Canada
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(Address of principal executive offices, including zip code)
(250)497-6072
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(Registrant's telephone Number, including area code)
INFORMATION TO BE INCLUDED IN THE REPORT
Section 1 - Registrant's Business and Operations
Item 1.01 - Entry into a Material Definitive Agreement
Cheetah Oil & Gas Ltd. (the "Registrant") has entered into a binding agreement
with Grey Creek Petroleum Inc. in which the Registrant has acquired a 97.5%
farm-in interest in two new Petroleum Prospecting Licenses ("PPL") in Papua New
Guinea being PPL #257 and PPL #258. The Registrant is now evaluating and
exploring oil and gas prospects over approximately 8.3 million acres in its five
100% owned license areas in Papua New Guinea as well as the 3.9 million acres in
these two new 97.5% farm-in licenses.
Payment in full for the 97.5% farm-in interest in PPL #257 and PPL #258 is
200,000 common shares of the Registrant. The 200,000 common shares of the
Registrant are restricted under the provisions of Rule 144.
PPL #257 encompasses 1.72 million acres located off shore of the East Coast of
Papua New Guinea near the Cape Vogel Basin and the Kumasi and Buna Anticlines.
Examinations of historical data indicate the theoretical possibility of a
potential hydrocarbon-bearing structure that could hold the equivalent of up to
1.4 billion barrels of oil.
PPL #258 is located in the East Sepik Province of Papua New Guinea covering a
total of 2.2 million acres in the North Niugini Basin. This East Sepik Basin has
been ranked as having the second-highest oil prospects of any nearby basins.
With these latest farm-in interest acquisitions, the Registrant has achieved a
strategic position on many of the most highly sought-after prospective areas in
Papua New Guinea. The Registrant's seven Petroleum Prospecting Licenses are
located along the Northern Coast, close to prolific areas of Indonesia; along
the North-Eastern Coast; and throughout the currently oil producing Central
Highlands. In aggregate, tens of millions of dollars have been spent exploring
and acquiring data throughout the properties the Registrant now holds or
controls.
Section 9 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits
(a) Financial Statements of Business(es) Acquired
Not Applicable.
(b) Pro Forma Financial Information
Not Applicable.
(c) Exhibits
None
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHEETAH OIL & GAS LTD.
(formerly Bio-American Capital Corporation)
Per: /s/Garth Braun
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Garth Braun, President and Director
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