CURLEW LAKE RESOURCES (CWQ-VSE) Message Board

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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)

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To: GerPol who wrote (592)	7/16/2000 4:05:07 AM
From: Dale Schwartzenhauer	of 701

Gerry: I don't know the specifics for TV development. It has been slow the past several years but perhaps the momentum IS changing. I do know that these wells are expensive to drill (e.g. $3-$5 million), so that may limit CWQ in terms of working interests. Thus they may end up with several GORR's but that's still better than a poke in the eye. The operator of Camp Coleman, Commonwealth, is in the process of completing another well (the Bedsole unit) elsewhere in Texas. Once this is done and on line, probably 10-14 days, we should hear what is next on the list. I'm hopeful our (CWQ) market improves before they call for cash too. If you noticed, STF/BEA have announced placements to finance TV activity. I doubt that CWQ will participate as a working interest owner (unless they locate some flow-through funds perhaps). Drilling risk in TV is fairly high as far as I'm concerned. Also, not to disparage STF/BEA, but I'm not sure they are the best operators. For the record, I expect Ekho-1 to work out fine, despite all the rhetoric and commentary to the contrary. Sentiment is very low, which I take as a bullish sign, and the preliminary information was very good. Some people just don't have any patience. Dale

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