Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (51062)	9/13/1999 9:18:00 PM
From: Think4Yourself	Read Replies (3) of 95453

This just keeps getting better and better... Loaded to the gills on MEXP, but am picking up some more tomorrow because I can't argue with 3 for 3 hits! CALGARY, Sept. 13 /CNW-PRN/ - K2 Energy Corp. (TSE:KTO - news) is pleased to announce that its third exploratory well, Osprey No. 2, on the Blackfeet Indian Reservation in northern Montana has been cased to total depth at 4,800 feet. The well encountered 25 feet of net pay in the sandstones of the Virgelle Formation with an average porosity of 14% and a water saturation of 45%. The Virgelle Formation represents the Corporation's third separate reservoir discovery in the ''Triangle Zone'' play which extends 60 miles across the Reservation. President and CEO, Jim Livingstone, said on Monday ''the results of the first three exploratory wells have met and exceeded the Corporation's initial objective of establishing the presence of hydrocarbons in the Triangle Zone.'' K2 is commencing the completion and testing of the three wells this week. Reservoir evaluation is expected to be completed by the end of October, following which the Corporation will proceed with a multi-well development program. The three discovery wells are located within eight miles of a natural gas transmission line with available capacity. K2 is the operator and holds a 50% interest in all wells.

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