Interesting find for FST.
Tuesday, April 18, 2000 05:55 PM
DENVER--(BUSINESS WIRE)--April 18, 2000--Forest Oil Corporation
(NYSE:FST) reported today a significant natural gas discovery in the
Jonah Field of the Green River Basin of Wyoming.
The Elm Federal No. 23-13, Section 23 -- T28N -- R109W, Sublette
County, Wyoming, was drilled to a total depth of 9,700 feet and logged
an estimated total of 405 net feet of pay. The well is currently on
production at 18.2 mmcfd and 123 bcd (approximately 18.9 mmcfde)
through a 44/64" choke at flowing casing pressure of 1456 psi. The
well is presently constrained by surface production equipment. Forest
has a 64% working interest in the well.
Forest believes there are 2-3 additional locations to further
develop their acreage. The Elm Federal No. 23-13 is one of the most
prolific producers drilled in the Jonah Field to date.
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Although the Company believes
that its expectations are based on reasonable assumptions, it can give
no assurance that expected results will be achieved. Important factors
that could cause actual results to differ materially from those in the
forward-looking statements herein include the timing and extent of
changes in commodity prices for oil and gas, operating risks and other
risk factors as described in the Company's 1999 Annual Report on Form
10-K as filed with the Securities and Exchange Commission.
Forest Oil Corporation is engaged in the acquisition,
exploration, development, production and marketing of natural gas and
crude oil in North America. Forest's principal reserves and producing
properties are located in the United States in the Gulf of Mexico,
Louisiana, Texas, Oklahoma, and Wyoming and in Canada in Alberta and
the Northwest Territories. Forest's common stock trades on the New
York Stock Exchange under the symbol FST.
CONTACT: Forest Oil Corporation, Denver
Donald H. Stevens, Vice President and Treasurer
303/812-1500
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