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Gold/Mining/Energy : Consolidated Bard Silver and Gold Ltd. CBS-V
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To: Alfonso Agostino who wrote (6)12/9/1999 1:33:00 PM
From: Famularo   of 43
 
Consolidated Bard Silver & Gold Ltd -
Cons Bard Silver & Gold completes Princess well
Consolidated Bard Silver & Gold Ltd CBS
Shares issued 4,211,350 1999-12-08 close $0.15
Thursday Dec 9 1999

Mr. Eugene Beukman reports
The drilling of the first well within the Princess project is completed and production casing has been set at a depth of 887 metres. Reports from the drill site indicate that the formations above the target zone were intersected as predicted, with excellent correlation with existing subsurface and seismic information. This confirms the interpretation of the data and the potential for natural gas production from the underlying target formations.
The drill rig is now being released. A service rig will be on site in the next few days to drill through the productive zones using an underbalanced technique. This is expected to largely eliminate the possibility of formation damage, which historically has greatly reduced the production potential of these zones. This will allow the company to maximize both initial and cumulative production from the well. Once the underbalanced drilling has been completed, the well will be tied into nearby gas pipelines. Further information on the well will be released when it has been received and reviewed by the company.


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