Pan East Petroleum PEC-TSE Several Projects Starting Message Board

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Gold/Mining/Energy : Pan East Petroleum PEC-TSE Several Projects Starting

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To: HAZ who wrote (36)	11/4/1997 9:01:00 AM
From: D.E. Shetland	Read Replies (2) of 73

Boy have we been bagged on this one. It seems that the company has been good at adding in incremental wells in Strachan and a few other areas, but hasn't had any success with the big exploration wells in some of the new areas. I keep reading the analyst reports that are recommending it and they keep saying the 97-98 program is aggressive and extensive and if they hit on one or 2 wells it will be meaningful. I'm not sure what's left, I believe there are a few more wells around the original Berland discovery (Horse), maybe one more around Edson and they have more around Bullmoose --but given the cost, they'll have to re-think those I suppose. They just haven't had much luck this year. Hopefully it will turn, but I don't count on it. Still awaiting final word on Ram, Bullmoose 1. Very disappointing.

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