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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE)
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To: Ed Pakstas who wrote (191)5/30/2000 4:02:00 PM
From: Leigh McBain   of 242
 
COMMONWEALTH ENERGY CORP.
CWY -- CDNX
MAY 30, 2000

Update for Commonwealth E-mail List:

Commonwealth Energy Corp. will be perforating the Bossier formation in the BEDSOLE UNIT well (Amerada Hess T-BAR-X Bedsole #1) in Texas on Thursday or Friday of this week. The Service Rig has moved on location today and is preparing the well bore for completion testing.

Commonwealth is the Operator and owns 50% of the Bedsole Unit. The Well being tested, according to the recently completed Engineering Report has potential to flow test at a rate between 4 & 6,000,000 Cubic Feet of Gas / Day. The Engineers have given the gas reserves in the well an undiscounted value of $17,884,000.00 USD based on a Natural Gas price of $2.00 USD / MCF. Natural Gas prices closed today at $4.35 USD / MCF (MCF = one thousand cubic feet). The price of Natural Gas has increased over $1.00 USD in the past 2-3 weeks alone.

Junior Resource Company's showing success in finding Natural Gas Reserves are doing extremely well in the Market right now. We feel Commonwealth is on the verge of successfully adding substantial Natural Gas Reserves and Production and that this will have a dramatic postive effect on the Company's Stock Price.

For more information, please read Commonwealth's May 17 or April 19 Media Releases or call us @ 1-800-950-2587.

Web-site: www.commonwealthenergy.com

E-mail: coenergy@direct.ca
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