Consolidated Bard Silver and Gold Ltd. CBS-V Message Board

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Gold/Mining/Energy : Consolidated Bard Silver and Gold Ltd. CBS-V

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To: Buckey who wrote (21)	12/14/1999 12:34:00 PM
From: jerry janko	Read Replies (2) of 43

Cons Bard Silver & Gold completes Princess well Consolidated Bard Silver & Gold Ltd CBS Shares issued 4,211,350 Dec 13 close $0.18 Tue 14 Dec 99 News Release Mr. Eugene Beukman reports The first exploratory well on the Princess project has been successfully completed as a new natural gas discovery. Good gas flows were achieved from both the Basal Colorado and the Colony formations. It is planned to commingle these two zones when the well is placed on production. The well flowed on initial test at a rate of approximately 500,000 cubic feet per day. The success of this initial well on the Princess project is very significant to Bard and its joint venture partners as it confirms that significant potentially economic gas production can be obtained using improved drilling techniques where previous drilling and testing have failed. This confirmation will now allow the partners to move forward toward drilling additional locations that have already been defined within the Princess project area. If additional wells are defined, overall production will increase significantly. The new well will be tied into a nearby pipeline in the near future. An extended flow test will confirm the well's production capability and allow the companies to more fully evaluate the significance of this new discovery. Based on a completed well cost of $225,000 and a production rate of 500,000 cubic feet, payout is projected in approximately one year. This additional information will be released when it has been received and reviewed by the company. Bard anticipates that additional wells will be drilled in the new year on similar targets within the project area. The company is very pleased with the results of its first oil and gas prospect and is looking forward to further drilling, and if successful, an increase in cash flow and net asset value.

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