Vulcan Minerals - C.VUL Message Board

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Gold/Mining/Energy : Vulcan Minerals - C.VUL

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To: Cyber Rock who wrote (174)	4/7/1999 2:44:00 PM
From: Len Hynes	of 415

Hi CyberRock; I'll take either/or as long as its in economic quantities.To answer your question objectively,there is a great deal of speculation that this area is host to huge oil as well as gas resevoirs. If you look at the Hunt/Pan Canadian 1995 discovery well, test results showed that the two test zones flowed 2.6 and 2.3 million cubic feet of gas respectively.On the extended flow test for 9.5 days, the well produced 5012 bbl of oil and 9.194 million cubic feet of gas on a declining basis. The existence of hydrocarbons indicates there is a hydrocarbon generating system in the area and the potential for an economic gas/oil discovery in the area. Recent press releases from Mobil/Pan Ocean et.al. suggest that we will see a great deal of activity in the West Coast area this year.As you are undoubtedly aware, Vulcan is in the final planning stages (press release...March 31/99) of preparing to drill a well on its Flat Bay permit...I am expecting that we should soon see a further press release on this matter soon. We are about a month-give or take a week-away from the results of Pan Canadian' s well....a significant discovery of either oil or gas or both will undoubtedly create an "explosion" of interest in this area once again.

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