Dale/Bob,
CWQ marching on with Commonwealth Energy.
THE FOLLOWING NEWS RELEASE WAS ISSUED ON APRIL 17, 2000.
APRIL 17, 2000
Trading Symbol: CWY (CDNX)
MEDIA RELEASE
DRILLING OF DRISCOLL 22-19 WELL IN WYOMING COMMENCED TODAY?
Commonwealth Energy Corp. ("Commonwealth" or "the Company") is pleased to announce that the drilling of the DRISCOLL 22-19 well on the Company's MADREN DRAW PROSPECT in Wyoming began today. The well will be drilled to the Fall River (Dakota) Formation at an approximate depth of 5,500 feet. The estimated timeline to drill to the targeted depth is 10 days.
The Madren Draw Prospect covers 3,400 acres and is located in the Powder River Basin of Weston County, Wyoming. The principle drilling objective is to discover Oil & Gas in the Channel Sands of the Fall River (Dakota) Formation. As previously stated in Commonwealth's Media Release of April 3, 2000, two extensive geological studies were completed on the Prospect, both of which conclude that the Madren Draw may have geological similarities to a discovery in the Fall River (Dakota) Formation in 1958 known as the Coyote Creek Oil and Gas Field. To date, the Coyote Creek Field has produced over 30 Million Barrels of Oil & 25 Billion Cubic feet of Gas. The Coyote Creek Field is located 7 miles northwest of the Madren Draw Prospect.
Additionally, the Warren/Thurmond #2 well on the Company's 2,600 acre Camp Colorado Prospect in Coleman County, Texas is now on production. It was tied in to the production facility on Friday, April 14, 2000. The Warren/Thurmond #2 well has been designated principally as an oil well by the Texas Railroad Commission. This designation was due to the strength of the oil flow during flow testing. The well flow tested at 98.6 Barrels of Oil / Day and 520,000 Cubic Feet of Gas / Day on a 18/64 inch choke. There are now two wells producing on this Prospect, the Warren/Thurmond #1 & Warren/Thurmond #2 wells. As announced on April 3, 2000, a further drilling program is now being put together to develop this Prospect.
For more information, please contact Doug Wolters or Robert Stewart at 1-800-950-2587 or visit the Company web-site at www.commonwealthenergy.com.
THE CANADIAN VENTURE EXCHANGE (CDNX) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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