Commonwealth Energy Corp. (CWY.ASE) Message Board

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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE)

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To: SgtPepper who wrote (105)	8/3/1999 2:52:00 PM
From: Ross	Read Replies (2) of 242

COMMONWEALTH MAKES NATURAL GAS DISCOVERY IN TEXAS WHITE ROCK, B.C.-- Commonwealth Energy Corp. ("Commonwealth" or "the Company") has made a Natural Gas discovery in the Caddo Lime Formation on the Company's 2,600 acre Camp Colorado Prospect in Coleman County, Texas. The initial flow rate of the Warren / Thurmond #1 well indicate volumes which exceed Commonwealth's initial expectations. The Company will conduct a 4-point flow test beginning August 4, 1999. The results of this test will be announced as soon as they are made available to the Company. This discovery location was chosen by Electro-Seise Inc., who conducted a 3D-Airborne Micro-Gravity Survey on the Camp Colorado Prospect. The Company also would like to announce that it has completed a Private Placement to raise $500,000.00 for the Companies drilling programs and operating expenses. The Company issued an additional 2,500,000 shares at a price of $0.20 per share each with a warrant to purchase an additional share at $0.30 per share within the next two years. For more information, please contact Bob Stewart or Doug Wolters at 1-800-950-2587 or visit the Company web-site at www.commonwealthenergy.com. THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. COMMONWEALTH ENERGY CORP. Phone: 1-800-950-2587 Fax: 1-604-536-2369 Web-site: www.commonwealthenergy.com E-mail: coenergy@direct.ca

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