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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C)
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To: Bearcatbob who wrote (1919)7/8/1999 4:16:00 PM
From: TANTRAMAR  Read Replies (1) of 2306
 
Hi Bob:
Just had a chance to read today's Calgary Herald and there was another short article about the hearing titled, "Gas Well Plans Anger Community" . From my quick read of this article the intervenors lawyer is trying to make the case that since there is the possibility of also hitting oil that the application should be denied, because the company (Stampede) did not inform area residents of this fact. Stampede is saying the environmental rules for sour gas wells are more difficult than those for oil and thus they made an application for a sour gas well as the probability of hitting sour gas was higher than oil.

One note of interest was the info in the Herald article on Stampede's long range area development plans. "The plan details 41 possible oil wells from 15 surface points." "McLeod called his company's long range development plan "extremely speculative," saying it represents only a best case scenario. The well could come up dry he said."

I am not certain if the hearing is still ongoing but the Herald article did not say that it had concluded yet.

Off topic, if the current weather trend in Alberta continues and is representative of the North American norm this winter, all us natural gas investors should freeze all the way to the bank.

Regards from
COLD WET ALBERTA.
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