Curlew Lake Berkley well to start drilling; Ekho project clarified
Curlew Lake Resources Inc CWQ
Shares issued 22,764,526 Oct 22 close $0.14
Mon 25 Oct 99 News Release
Mr. Robert Pincombe reports
The company has received notice from Imperial Oil Resources that it plans
to commence drilling the Berkley et al 10-16-21-3 W5M development gas well
on company interest lands in the Turner Valley of Alberta in December,
1999. This drilling program had been delayed due to regulatory hearing
requirements. Berkley Petroleum will be the operator of the well, which
offsets the successful 2-21-21-3 W5M well. Curlew Lake Resources has a
1.312-per-cent working interest in the new well. The consortium has
recently received extension approvals for the continuation of 20 Crown
petroleum and natural gas (P&NG) leases, totalling 12,090 acres in the
Turner Valley prospect. The group presently holds 116 Crown and freehold
P&NG leases for a total of 28,643 acres in the overall Turner Valley area.
As a result of several recent enquiries, the company wishes to clarify its
position with respect to the Ekho project in the San Joaquin Valley of
California. Curlew Lake Resources has advanced its full share of the
estimated costs of drilling and completing the initial test well on the
project (see Stockwatch Sept. 17, 1999). The project operator, Tri-Valley
Oil and Gas, is preparing an exploration program, and will be advising
partners of the timing of exploration programs, expected to commence in the
fourth quarter of 1999.
Curlew Lake Resources has recently participated with a 5-per-cent working
interest in a successful shallow gas exploration project near Coleman, Tex.
The initial well on the prospect is on production with a temporary surface
line at a rate of 330,000 cubic feet per day. As well as the cash flow
potential, this participation was partly to gain experience with the
technology used to locate the drill site. The method appears to have the
potential to provide information comparable with 3-D seismic at a fraction
of the cost. A number of additional wells are planned for the 2,600-acre
lease block.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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