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Gold/Mining/Energy : The New Osprey Limited
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To: Buckey who wrote (13)5/8/2001 9:09:19 AM
From: The Osprey  Read Replies (2) of 338
 
YEEEEEEEEEHAAAAAAAWWWWWWWWW!!!!!!!!!

NEWS!!!!!
THIS IS GREAT!!!!!

Osprey Energy Ltd.

HALIFAX, May 8 /CNW/ - Osprey Energy is pleased to announce it has
reached agreement with BPR Energy on participation in a world-class natural
gas play in West Central Alberta, which has a potential reserve in excess of
.75 trillion (750 billion) cubic feet of gas. Osprey has agreed to a 21%
working interest in the project.
The play was developed by one of the top five oil and gas companies in
the world, who retain a carried interest and will operate the project. Having
worked on the project over the past five years and completed an extensive
geologic and geophysical profile, supported by 230 square miles of 3D Seismic,
they have identified a gas zone more than 800 feet thick which covers an area
10 miles long and 1-2 miles wide. Because the 3D Seismic readings have the
same signature as other successful wells in this Alberta zone, indications of
a major find are promising. Also, geological formations in this area are
consistent with those of other natural gas discoveries in the province.
Osprey will issue 300,000 shares and pay its proportionate share of
expenses. Haliburton has already prepared AEF's, with drilling expected to
commence early in the fall.
Osprey will also participate with the major on a joint venture basis in
the drilling of additional wells, as they are drilled.
A successful well in this play is expected to produce between 30 and 35
million cubic feet of gas per day, a rate which would elevate Osprey Energy to
the rank of significant player among the junior oil and gas companies in
Canada.
This project qualifies under the terms of the Canadian Exploration
Expense Program and is subject to final approval of the CDNX.

I have re-=read this three times and I like it alot.
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