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Gold/Mining/Energy : Fortune Petroleum (FPX)
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To: jask who wrote ()4/17/1997 11:26:00 AM
From: Bob (Hijacked)   of 275
 
Fortune petroleum said Wednesday the Port Arthur feild was suspended because the well crossed a fault and failed to reach the primary target. They also said the well may have encountered potential oil in a shallower reservoir, but Fortune nor its partners do not own rights to this area. They are going to try and work a farmout with the current owner. The cost to drill, plug and abandon the well would run $380,000 to its 12.5 percent intrest. ... Not the end of the world.
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