No problemo and thanks for the long posting to Pose.
Here's the latest TMK story. Interesting - sounds like they're doing 200+ feet per day at Cal Canal now.
TRIMARK OIL & GAS LTD.
#1305 - 1090 West Georgia Street
Vancouver, BC V6E 3V7
Tel: (604) 685-9316  Fax: (604) 683-1585
VSE Symbol: TMK.V
NEWS RELEASE July 27, 1999
The Director's would like to provide the following corporate update:
CALIFORNIA PROJECTS
• In June the Company completed transactions with Berkley Petroleum Inc. and Hilton Petroleum Ltd. whereby the Company acquired a 4.0% capital interest in the Greater San Joaquin Basin Joint Venture and a 1.0% working interest in the East Lost Hills Joint Venture. The Company's total acquisition cost for these interests was approximately CDN $5,002,500 (US $3,450,000).
• At the East Lost Hills prospect the Bellevue #1-17 replacement well is at a depth of 17,100 feet and is directly above the Temblor pay zone. This well is being drilled approximately 700 feet from the blow out well. Casing is now being set and drilling should recommence in the first week of August. Management believes that there is a very good chance of drilling the total Temblor formation - approximately 1,900 feet. Once the well is completed and tested the Company should be in a position to book its first reserves at East Lost Hills.
• A second rig is being moved onto the East Lost Hills property and is scheduled to commence drilling on a new location in early August. The location is approximately two miles northwest of the present drill site. Drilling of this well is expected to take 120 days.
• The drill rig currently working on the Bellevue #1-17 re-drill well, once drilling is completed, is scheduled to be moved to a new location at East Lost Hills. This is expected to take place in September.
• Cal Canal, the Greater San Joaquin Basin Joint Venture's first prospect to be drilled, is presently at a depth of approximately 10,700 feet and will be at the top of the Temblor at approximately 14,400 feet. The drill rig, when finished at Cal Canal, will be moved to the Lucky Dog prospect.
• The Greater San Joaquin Basin Joint Venture has been successful in acquiring additional lands and identifying new prospects in the Greater San Joaquin Basin and exploration activities are anticipated to increase over the next several months. Management considers these new prospects to be very significant.
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Trimark Oil & Gas Ltd.
July 27, 1999
Page 2
• During August and September two wells will be penetrating the Temblor. If all goes well by the end of the year three wells should be to total depth in the Temblor and two more nearing total depth in the Temblor. Management has very high expectations for this area.
TEXAS PROSPECT
• The Company is seeking final regulatory approval for the acquisition of the Kathleen Ann Reef waterflood project located in Wilson County, Texas. The Company agreed to acquire this project through the issuance of 1,000,000 common shares of which 750,000 will be held in escrow subject to the project achieving cash flow of US $1.6 million. The Company is in receipt of an independent engineering report on the Kathleen Ann Reef Field and is preparing to commence work once final approvals are obtained.
NEW DEVELOPMENTS
• The Company is considering the acquisition of production in the United States. It is hoped this will provide the Company with immediate on-going cash flow until the California projects are ready to come on-stream. The Company will only consider projects that can be purchased using bank financing.
ON BEHALF OF THE BOARD
"Donald Busby"
Donald W. Busby, Chairman
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