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Gold/Mining/Energy : Meteor Creek Resources Inc V.DDX

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To: The Osprey who wrote (44)	6/5/2001 11:07:55 AM
From: The Osprey	Read Replies (1) of 67

Some better info from PEI by Nancy Willis: "Crane removes drilling rig from natural gas well By Nancy Willis ".. ST. CHARLES A crane arrived at the site of the Meteor Creek #1 natural gas well here to remove the drilling rig Monday in anticipation of a service testing rig expected to be in place by mid-June. Meteor vice-president David Fisher said the company will proceed with the testing phases of its operation in stages, in order to take advantage of sharing the huge transportation costs involved in importing the test equipment with other exploration companies. The testing will proceed in conjunction with other onshore drilling operations using the equipment in the Maritimes at the same time. "This will save vast amounts of money," he said. Fisher said the offshore exploration industry is well-supported with testing equipment in the Atlantic region, but there is less demand for the onshore variety, making scheduling trickier. The crane that arrived Monday is needed to hoist the drilling apparatus off the well hole. Record amounts of rain and melting snow this spring pumped Prince Edward Island¹s water table up two metres beyond normal. It only recently began to recede. "Finally the area has dried up enough to let it get on," said Fisher. "The arrival of the crane is a definite step forward in our whole program, because physically we had to get the drilling rig off there because it has been sitting right on top of the hole we have to test. And up until now the lease site has been too soft for them to get the crane in. We recently had to get a backhoe in to make three-foot ditches for the standing water to run off." The site will be graded and levelled next week. Fisher hopes to have the service equipment in place and testing under way by June 11, depending on scheduling. Meteor began drilling for natural gas in eastern P.E.I. at the new year. ..." The Osprey

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