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Gold/Mining/Energy : Cypress Min. (CYP.V) Diamond Fields clone?
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To: VAUGHN who wrote (588)3/4/2001 9:54:45 PM
From: 4TNiner  Read Replies (1) of 595
 
Hi Vaughn,

Here you go. Hope it doesn't give you gas. Since this NR new developments re: Gunman suggest that now is the time to accumulate. IMHO

CYPRESS DEVELOPMENT CORP ("CYP-V;CYDVF-L") - To Participate as to a
20% Working Interest in Three Gas Wells - in Alberta

Donald Huston, President and Director, on behalf of the Board of Directors of
Cypress Development Corporation reports:

The Company announces that it has entered into an agreement with Rio Petro
Ltd. of Calgary, Alberta to participate as to a 20% working interest in three gas
wells in the Brooks area of Alberta, by incurring 20% of the drilling and
completion costs of the three wells. The drilling of the wells will earn a
participation right by Cypress in an additional six sections of adjoining land with
the potential of up to 24 gas well locations.

Cypress will initially receive 20% of net revenue reverting to 10% of net revenue
after pay out.

Drilling of the first well started February 19, 2001 with drilling of the next two sites
to follow immediately upon completion of the first well. Total cost of the drilling,
completion and installion of approximately two miles of pipeline, is estimated to
be approximately $390,000.

Phase IV work program on Gunman Property, Nevada

Cypress also announces the initiation of the Phase IV work program on its
Gunman Property in Nevada to commence the beginning of March 2001. The
Phase IV work program will start with geophysical and geochemical surveys over
the property to be followed up with reverse circulation drilling and diamond drilling
to further delineate the size of its high grade zinc oxide discovery. TEL: (604)
687-3376

Cypress Development Corp. FAX: (604) 687-3119 INET :
www.cypressdevelopmentcorp.com EMAIL: stocks@ninetyeight.com
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