EKHO Project to Showcase at Calgary Investment Seminar
Curlew Lake Resources Inc CWQ
Shares issued 22,764,526 Sep 30 close $0.19
Fri 1 Oct 99 News Release
See Aster Ventures Corp (ASV) News Release
Mr. David Patterson reports
The EKHO project consortium of nine Canadian independent resource and
venture capital companies will unveil the project opportunity to resource
investors on Oct. 3.
EKHO Consortium chairman David Patterson will conduct the presentation,
expected to be attended by investment newsletter editors, stock analysts,
financial advisors, individual investors, investment dealers and the
financial and business media.
The EKHO project is an oil and natural gas exploration drilling project
probing potential multizone oil and natural gas prospects in virtually
unexplored sediments below 17,000 feet on leases in an area of mutual
interest in the San Joaquin Basin, Kern County, Calif. The primary target
is a structurally controlled stratigraphic trap in a thick middle and lower
Miocene interval called the Temblor sandstones. Previous drilling
established the presence of oil in encouraging quantities in the structure;
the EKHO project is as much an engineering play as an exploration play,
calling for the application of 1990s technology, equipment and know-how to
wrestle production from a high-pressure formation with challenging
reservoir conditions. There are secondary oil, natural gas and gas liquids
targets at depth in the EKHO structure and a recent major natural gas and
liquids find at East Lost Hills, in a similar structure on the same
hydrocarbon-prone syncline is indicative of significant natural gas
potential.
The EKHO project target was identified and developed, and is operated by
Tri-Valley Oil and Gas of Bakersfield. The EKHO Consortium provided
$9.5-million (U.S.) financing for a work program that includes the first
test with certain rights and obligations in follow-up wells, and future
exploration in an area of mutual interest covering about 170,000 acres.
The EKHO Project is one of several major exploration plays in western North
America's newest geological frontier -- the deep sedimentary deposits
underlying well-established shallower fields in mature basins such as those
of Western Canada and the Rocky Mountain states. Cumulative production in
the San Joaquin Basin stands at 12.3 billion barrels of oil and 12.1
trillion cubic feet of gas; although more than 100,000 wells have been
drilled in the basin only 70 have tested below 15,000 ft.
The EKHO Consortium includes: Aster Ventures with a 20-per-cent working
interest; Curion Venture with 20 per cent; Lucre Ventures, 12 per cent;
Berkshire International Mining, 10 per cent; CVL Resources, 9.64 per cent;
Consolidated Bradbury International Equities, 5 per cent; Curlew Lake
Resources, 5 per cent; Pan Ocean Explorations, 5 per cent; and Prairie
Pacific Energy Corporation, 5 per cent.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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