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Gold/Mining/Energy : Olympic Resources ORL:VSE

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To: burner who started this subject	10/18/2000 12:35:18 PM
From: burner	of 95

And another! Olympic Resources to participate in MDHF well Olympic Resources Ltd ORL Shares issued 11,994,378 Oct 16 close $0.39 Tue 17 Oct 2000 News Release Mr. Daryl Pollock reports Olympic Resources has agreed to participate to the extent of a 15-per-cent working interest in the MDHF No. 1-36 well to be drilled on the West Denverton Creek project in Solaro county, in California. The MDHF No. 1-36 was defined from reprocessed seismic data and interpretation from the Glide-Colby 2-30 drilled in January, 2000. Primary targets are the Anderson/Wagenet, Denverton, McCormick and Upper Cretaceous sands within the Cannon anticline area on the west side of the main Kirby Hills fault. Seismic data show strong stacked amplitude anomalies defined by fault blocks within the anticline. The well will also test a significant faulted nose trap where a fault crosses the southerly plunging nose of the anticline. This project is located in Solano county, northwest of the Rio Vista gas field, which has produced more than 3.5 trillion cubic feet of gas. Three gas fields lie two to nine miles south of the project area. The Van Sickle Island-Ryer Island-Suisun Bay-Kirby Hill-Denverton Creek area is one of the most prolific producing trends on an acre-by-acre basis yet to be evaluated using 3-D seismic in the Sacramento basin. This area typically offers shallow hydrocarbon reserves of less than 6,000 feet in depth and is relatively underexplored. Drilling operations commenced Oct. 16. The Cowboys No. 13-16 well drilled last month has been tested and found to contain non-economic quantities of gas. As a result, Olympic and its partners have decided to plug and abandon this well. WARNING: The company relies upon litigation protection for "forward-looking" statements.

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