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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C)
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To: Dale Schwartzenhauer who wrote (1278)6/24/1998 6:02:00 PM
From: Jim P  Read Replies (1) of 2306
 
Update for all from a friend out where action is. Can any one help with the drilling licence issue metioned in the body of this report. Hey TV where are ya, you have access to this stuff. Jim

Monday, Jun 22 1998 9:09PM ET

Hi Jim:

I took a drive out to the Turner Valley area on Sunday to have a look around as the weather was good and it had finally quit raining. The only change to the properties in which we have an interest is that well #3 (STF/BEA) now has a nice new black and orange pump jack on the well and best of all it is working!!! This is a new development since my last trip to the area about two weeks ago. To be clear which well we are talking about, this is the most southerly well that Bearcat & Stampede drilled (about 2.5 miles southwest of the discovery well, otherwise known as well # 1). I believe it had been planned to develop this well as an oil well, which has now apparently happened. I don't recall exactly what the expectations were for this well but I seem to remember that it was anticipated to produce a small to moderate volume of oil. It might be interesting to check with management to see what this well is producing now that they are pumping it.

One other item of interest. About a half mile south of the Shell well there has been some earth work done along side of the road. I do not know if this work is the result of some recent road realignment or if it is early preparation of another drilling lease. I will see what I can find out about this, but I wonder if anyone has access to the drilling licences that have been issued in this area.

Regards From Alberta
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