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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (10250)	4/22/1998 2:01:00 AM
From: Kerm Yerman	of 15196

FIELD ACTIVITIES / Loon Energy Comments on Strachen Well LOON ENERGY INC. ASE SYMBOL: LEY APRIL 21, 1998 Loon Comments on Strachan Well CALGARY, ALBERTA--Loon Energy Inc. advises that the Strachan 03-22-38-09 W5M well has reached a total measured depth of 4,340 metres in the Cambrian. Logging is expected to be completed on April 23. Loon, in consultation with its partners, will evaluate drilling data and wireline logging information to determine whether the running of casing to total depth is warranted. The operator has invoked tight hole status and participants are not at liberty to dislcose any further information at this time. As reported by news release dated March 27 the well is already cased to an intermediate depth of 3,420 metres. Loon is participating in the Strachan well for 10 percent of the well costs to earn 10 percent before payout and 5 percent after payout. The original earning block is 4 sections. Loon has options to earn in an additional 10.5 sections.

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