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Gold/Mining/Energy : Vulcan Minerals - C.VUL
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To: Bob Vukovich who wrote (28)4/11/1997 12:38:00 PM
From: pete meyer   of 415
 
well.. it's not much but here is the latest release..

April 11, 1997

Participates in Ontario Oil Discovery

ST. JOHN'S, Nfld., April 11 /CNW/ - On March 18, 1997 Vulcan Minerals Inc. (VUL:ASE, the company)
announced an agreement with Clearwood Resources Inc. to acquire a 12% participating interest in the South
Gosfield project, 20 kilometres southeast of Windsor, Ontario. The company is pleased to announce that
Clearwood Resources Inc., the operator of its South Gosfield 3K3 petroleum exploration well, has reported that
significant quantities of oil have been encountered in the target Trenton horizon. The well is being cased and
prepared for flow testing. Based on the operator's experience with oil wells of this type the well is being completed
for production. Until flow tests are carried out, the company will not know the initial production rates. Flow test
results should be available within 2-3 weeks.

The company is a 12% participating partner in this initial well and has a right to participate on a 12% basis in further
offset wells on the South Gosfield project. The company and its partners anticipate four other offset drill locations
within the project. Further seismic data will be acquired to assist in the delineation of these drill sites.

The Alberta Stock Exchange neither approves nor disapproves of the information contained herein.


What does significant mean ..In Ontario it might mean 5-7 barrals a day ..what do you think??
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