NEWS RELEASE PAN GLOBAL
Pan-Global Enterprises Inc.
11/4/99 -
Acquisition of a 10% Working Interest in Chowchilla Natural Project
PAN-GLOBAL ENTERPRISES INC
("PGE-V;PGLEF-L") - Acquisition of a 10% Working
Interest in Chowchilla Natural Project
Arn Schoch, President of Pan-Global Enterprises Inc.
announces that the Company has acquired a 10-per-cent
working interest in the Chowchilla natural project, San
Joaquin basin, California, for $44,000 (U.S.) and the issuance of 100,000 treasury shares to Kern
County upon a decision to complete the well for production. The farm-in will earn Pan Global's
interest in the field to all depths as described below.
This 4,000-acre project is located on the edge of the Chowchilla gas field, which has produced
over 29 billion cubic feet of gas. The initial test well was spudded on November 1, 1999. The well
will be drilled to a depth of 5,200 feet. The primary objective is the Blewatt sand, which has been
the focus of recent exploration with several discoveries to the south and west of the Chowchilla
field. The secondary targets are the Zilch sand and the second and the fourth Panoche sands.
The proposed location has been defined by a down dip well, which encountered 210 feet of
Blewett sand, and up dip well, which encountered no Blewett sand. Several seismic lines over the
target area show excellent response and confirm the potential for gas production from the target
Blewett formation.
The prospect as mapped covers approximately 550 acres and is similar in characteristics to the up
dip Blewett pool in the Ash Slough gas field. This field has produced over 5.2 bcf gas to date.
On this basis a similar reserve potential has been postulated for the Blewett formation at the target
location. There is also an additional potential in the secondary zones that are productive in the
immediate area.
Petroleum Inc. of Bakersfield, Calif., operates the project. Northwest has been an operating oil
and gas company in the, San Joaquin basin for many years, and is experienced in all aspects of
exploration and development. TEL: (604) 682-4984
Arn Schoch, President FAX: (604) 682-0530 Email: rd@helix.net
______________________________________
(c) Corporate Dissemination Services Inc. All rights reserved.
Tel:(604) 689-1101
Fax:(604) 689-1106
RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041.
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Pan-Global Enterprises Inc.
11/4/99 -
Acquisition of a 10% Working Interest in Chowchilla Natural Project
PAN-GLOBAL ENTERPRISES INC
("PGE-V;PGLEF-L") - Acquisition of a 10% Working
Interest in Chowchilla Natural Project
Arn Schoch, President of Pan-Global Enterprises Inc.
announces that the Company has acquired a 10-per-cent
working interest in the Chowchilla natural project, San
Joaquin basin, California, for $44,000 (U.S.) and the issuance of 100,000 treasury shares to Kern
County upon a decision to complete the well for production. The farm-in will earn Pan Global's
interest in the field to all depths as described below.
This 4,000-acre project is located on the edge of the Chowchilla gas field, which has produced
over 29 billion cubic feet of gas. The initial test well was spudded on November 1, 1999. The well
will be drilled to a depth of 5,200 feet. The primary objective is the Blewatt sand, which has been
the focus of recent exploration with several discoveries to the south and west of the Chowchilla
field. The secondary targets are the Zilch sand and the second and the fourth Panoche sands.
The proposed location has been defined by a down dip well, which encountered 210 feet of
Blewett sand, and up dip well, which encountered no Blewett sand. Several seismic lines over the
target area show excellent response and confirm the potential for gas production from the target
Blewett formation.
The prospect as mapped covers approximately 550 acres and is similar in characteristics to the up
dip Blewett pool in the Ash Slough gas field. This field has produced over 5.2 bcf gas to date.
On this basis a similar reserve potential has been postulated for the Blewett formation at the target
location. There is also an additional potential in the secondary zones that are productive in the
immediate area.
Petroleum Inc. of Bakersfield, Calif., operates the project. Northwest has been an operating oil
and gas company in the, San Joaquin basin for many years, and is experienced in all aspects of
exploration and development. TEL: (604) 682-4984
Arn Schoch, President FAX: (604) 682-0530 Email: rd@helix.net
______________________________________
(c) Corporate Dissemination Services Inc. All rights reserved.
Tel:(604) 689-1101
Fax:(604) 689-1106
RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041.
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