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Gold/Mining/Energy : Tusk Energy (TKE)
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To: TANTRAMAR who wrote (1188)12/21/1999 9:46:00 PM
From: kingfisher   of 1207
 
Ed Beaman purchased 4000 shares in February 99 at $1.13 and 11,000 shares at .90 August 20.
Some insiders have participated in recent financings but have not purchased any stock in open market.

Noticed today that Tusk little sister company Loon Energy jumped briefly to .24 cents before closing at .19 cents.
They have several projects on the go at the moment but perhaps that heavy oil prospect at Epping and Silverdale looks promising based on first well.
In that general area wells have initial production rates of 30 to 100 BOPD, with about 40 BOPD average.A half section of reserves could support at least 5-10 wells.With a conservative netbacks of about $10/bbl at todays prices, a 5 well pool and a 50% interest for LOON cash flow would therefore be around $350,000.

Also news on further drilling at Strachan is expected by year end.

Best Regards from Ontario,
Richard
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