Scimitar Hydrocarbons, SIY:ASE Message Board

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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE

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To: Yarek Szolomicki who wrote (716)	1/31/2000 11:57:00 AM
From: Bert Zed	of 864

News on #12 Scimitar Hydrocarbons Corporation SIY Shares issued 30,678,729 2000-01-28 close $0.5 Monday Jan 31 2000 Mr. Angus Mackenzie reports Scimitar Hydrocarbons has spudded the Issaran well No. 12, the third well of the current development drilling program in the Issaran field, Egypt. This well is an offset to the recently drilled Issaran well No. 10 which has averaged 360 barrels a day of net oil since commencing production on Dec. 4, 1999. Scimitar's average production from the Issaran oil field for the period Jan. 1 to 15, 2000, was 1,120 barrels of oil per day. Drilling of the Issaran well No. 12 commenced on Jan. 29, 2000, and it is expected to reach the total depth of 2,050 feet within 10 days. Upon successful results, the well will be completed and placed on production by mid-February, 2000. Scimitar has the exclusive right to develop and produce heavy oil from its 100-per-cent interest in the Issaran oil field which comprises an area of approximately 75 square kilometres.

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