first star energy FST on the ASE Message Board

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Gold/Mining/Energy : first star energy FST on the ASE

FST 10.18

+0.3%

Aug 25 5:00 PM EST

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To: grayhairs who wrote (662)	1/29/1999 12:40:00 PM
From: Ed Pakstas	Read Replies (2) of 754

*NEWS RELEASE* First Star commences drilling First Star Energy Ltd FST Shares issued 24,016,195 Jan 27 close $0.34 Fri 29 Jan 99 News Release Mr. John Squarek reports First Star Energy has commenced the drilling of its Devonian D-3 test well at Ferrybank in central Alberta. The well, First Star et al Ferrybank 2-33-43-27W4, is expected to take 25 days to reach the target depth of 2,300 metres. This is an oil prospect, with the potential for over 100 million barrels of oil if the reef is present. In First Star's five-well program in Johnson County, Kentucky, three wells are now on production and producing over 500 mcfd (FST 25 per cent). The wells are restricted by compressor capacity and are expected to do over 1 mmcfd once a second compressor is installed in late February. The other two wells are waiting on weather to be completed. First Star's contract with Dan Patience and Noble House Investments Inc. has been completed and the company is now handling its investor relations in-house.

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