LOG 5
BAU.. LAST 11/19
BNP.. LAST 12/11
CYZ.A LAST 11/26
GEX.. Genesis Exploration Ltd. Strengthens Board of Directors and
Adds Key Management Personnel
CALGARY, Jan. 12 /CNW/ - Mr. Donald J. Sabo, Chairman of Genesis
Exploration Ltd., is pleased to announce the appointment of Mr. Al Gordon to
the Board of Directors of the Company.
Mr. Gordon has held various positions over the past 12 years in the
Nesbitt Burns Ltd. and Burns Fry Ltd. equity research departments in Toronto.
Prior to 1987, Mr. Gordon was co-founder and President of Thompson & Gordon
Publishing Company Ltd., publishers of Explore Magazine.
Mr. Gordon brings to Genesis a broad knowledge of financial markets and
communication and marketing expertise to complement the experienced and
entrepreneurial spirit of the Board.
Mr. Sabo is also pleased to announce the appointment of Mr. Steve Horner,
C.A. as Vice President Corporate Development. Mr. Horner has over 17 years of
experience in the energy business, most recently as an executive with
Renaissance Energy Ltd. where he participated in that company's growth through
its formative years to senior status. At Genesis, Mr. Horner will be
responsible for improving internal systems and assisting management guide
Genesis Exploration Ltd. in its growth strategy.
Genesis Exploration Ltd. is a TSE listed company that explores, develops
and produces natural gas and oil in Western Canada.
HRE.. LAST 11/17
RLP.. LAST 12/21
SEH.. LAST 11/20
URC.. LAST 12/18
VRM.. LAST 11/26
WML.. LAST 12/18
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ABG.. ??????????
CKM.. 1999-01-18 (provided courtesy of Canadian Corporate News.)
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Carmanah Updates Onado Drilling
CALGARY, ALBERTA--Carmanah Resources Ltd. announced today that
completion operations are underway at its 23.4 percent - owned ONV
- 78 well on the Onado Area onshore Venezuela. The block is
operated by Compania General de Combustibles S.A. ("CGC") of
Argentina with a 49.8 percent working interest.
The well was spudded on August 28, 1998 and was drilled to a total
depth of 16,370 feet. It encountered 829 gross feet of oil pay
and 632 net feet of oil pay. A total of 120 feet of core was
obtained and the reservoir appears attractive based on visual
examination. The cores were oil-saturated with good visual
porosity. A full suite of logs was also run.
A liner is presently being run, and then testing operations will
be initiated. Thereafter, the well will be tied in and placed
onstream and it is expected to be a flowing oilwell. Carmanah
will report cumulative test rates, flow rates, and reserves
estimates as soon as they are available.
Carmanah also announces that the operator has decided to defer the
drilling of the second well scheduled on the Onado Area until it
secures production results from ONV - 78. This decision will be
revisited at the next meeting of the participants.
Carmanah is a Calgary - based independent oil company with three
operated blocks (Bawean/Camar, Langsa and Northeast Natuna) in
Indonesia and its non-operated 23.4 percent interest at Onado,
Venezuela. Carmanah owns 100 percent of the Bawean/Camar PSC, 80
percent of the Langsa TAC and 90 percent of the Northeast Natuna
PSC.
CMT.. LAST 12/18
HYD.. LAST 10/16
KOB.. LAST 12/18
PZI.. 1999-01-18 (provided courtesy of Canadian Corporate News.)
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Prize Energy Inc. Announces Change in Financial Year-End
CALGARY, ALBERTA--PZI - ASE - Prize Energy Inc. announced today
that its financial year-end has been changed from May 31 to
December 31 of each year. Accordingly, Prize will be preparing
and mailing to shareholders audited financial statements for the
year ended December 31, 1998.
PEL.. 1999-01-06 (provided courtesy of ISDN Wire Service.)
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PURCELL ENERGY LTD ANNOUNCES $1,185,000 FINANCING
CALGARY, ALBERTA--
PURCELL ENERGY LTD. of Calgary, Alberta announces that it has
entered into private placement agreements with three limited
partnerships and several private individuals to issue an
aggregate of 1,185,000 flow-through common shares at a price of
$1.00 per share for gross proceeds of $1,185,000. Subscriptions
received were for 550,000 shares by EnerVest FTS Limited
Partnership 1998, 255,000 shares by EnerVest FTS Limited
Partnership (98-1), 175,000 shares by EnerVest FTS Limited
Partnership Fund (1997), 80,000 shares by Purcell's management,
and the balance of 125,000 shares by individual investors.
Proceeds from the private placement will be used to fund
Purcell's 1999 exploration program.
The securities will be issued pursuant to private placement
exemptions under Canadian securities regulations. The issue of
the private placement common shares is subject to receipt of
regulatory approvals. Credifinance Securities Limited acted as
Purcell's agent on the placement.
RSO.. LAST 12/03
SYO.. LAST 12/15
TET.. LAST 12/15
THY.. 1999-01-21 (provided courtesy of Canadian Corporate News.)
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Thunder Energy Inc. to Acquire New Core Area at Fenn Big Valley
CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today
its intention to acquire 100 percent of the issued and outstanding
shares of a group of private Alberta companies whose sole assets
are working interests in operated gas producing properties, a gas
plant and gas gathering system in the Fenn Big Valley area.
The Fenn Big Valley property is located 90 miles north east of
Calgary, Alberta. Current production from the property is
estimated at 2.7 mmcfpd and 15 boepd of oil and liquids. Thunder
will acquire an interest in 26,240 (22,300 net) acres of developed
and undeveloped lands, an 83 percent interest in a 10 mmcfpd gas
plant and an extensive gathering system covering a four township
area. Total reserves acquired have been estimated by Sproule
Associated Limited at 15.4 Bcfe of natural gas (8.3 Bcfe proven
and 7.1 Bcf probable reserves). Total acquisition cost is
estimated at $8.1 million subject to closing adjustments.
At Fenn Big Valley, Thunder plans to implement its exploitation
and drilling strategy that has been successful at other Thunder
core properties. The property is characterized as a multi-zone gas
property similar to Thunder's Rosalind property 30 miles to the
North. Initially, Thunder will exploit existing opportunities
that are expected to add 2-3 mmcfpd to current production. In
addition, Thunder has identified five preliminary drilling
locations that will be incorporated in its drilling programs in
the second half of 1999. Thunder believes this area has the
potential to quickly develop into another significant core area
for the Company.
The acquisition is under negotiation and will be subject to
completion of Thunder's due diligence, execution of satisfactory
documentation and financing and is expected to close at the end of
January.
1999-01-19 (provided courtesy of Canadian Corporate News.)
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Thunder Energy Inc. 1998 Year End Reserves
CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today
1998 year end reserves as determined by its independent
engineering consultants, Sproule Associates Limited.
Total additions from drilling, acquisitions and revisions for the
year were 1.4 million barrels of oil and ngl's and 10.3 BCF of
gas. Reserve additions replaced 408 percent of 1998's production
with year-end reserves growing 30 percent over the previous year.
During the year Thunder drilled a total of 33 wells (16.5 net)
resulting in 21 gas wells (10.5 net), 9 oil wells (4.5 net) and 3
dry holes (1.5 net). All of the wells were operated by Thunder
and drilled in its three core areas.
Total capital expenditures for 1998 are estimated at $12.5
million. Finding and development costs are estimated at $5.14 per
BOE on a proven plus probable basis and $5.46 on a proven basis
only. Thunder's three-year average finding and development costs
are $4.11 per BOE and $4.96 per BOE on a proven plus probable and
proven basis respectively.
/T/
RESERVES, as at December 31, 1998
Oil & Ngl's Gas Future Cash Flow ($ 000's)
(mbbls) (Bcf) Undiscounted 10 15
(percent)(percent)
--------------------------------------------------
Proven 2,595 39.3 79,028 50,198 42,441
Probable 953 5.8 16,595 5,912 4,113
Total 3,548 45.1 95,623 56,110 46,554
1999-01-06 (provided courtesy of Canadian Corporate News.)
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Thunder Energy Inc. Initiates Gas Exploration Play at Kaybob
CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today
it has agreed to a major farm-in in the Kaybob area of central
Alberta. A total of 20 contiguous sections of land have been
optioned under the agreement. The primary exploration target
will be the Gething sands located at a depth of approximately 1900
meters. Reserve potential is estimated at 3-5 BCF per well.
Thunder has secured the right to use available proprietary seismic
over the subject lands including a 130-sq. km. 3-D survey. Recent
activity in this area has focused on the deeper Nisku formation
with a number of wells penetrating potential Gething pay zones.
Initial exploration efforts will focus on twining these bypassed
zones. The first well under this program is expected to spud by
January 31st. Thunder will operate the well with a minimum of 75
percent working interest. If successful, this farm-in will
establish a new core area for Thunder in a prolific long-life gas
reserve area.
Thunder Energy is a Calgary-based oil and gas exploration company
operating in Alberta. Thunder's shares are traded on the Toronto
Stock Exchange under the trading symbol "THY".
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