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Gold/Mining/Energy : CAVELL ENERGY CORP { KVL TSE }
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To: Scott Mc who wrote (171)2/27/2002 12:33:24 PM
From: Braincramp  Read Replies (1) of 190
 
Cavell Energy Corp KVL
Shares issued 32,295,564 Feb 26 2002 close $.740
Wednesday Feb 27 2002 News Release
Mr. Murray McCartney reports
CAVELL ENERGY CORPORATION SIGNS AGREEMENT WITH LITTLE PINE FIRST
Cavell Energy has entered into an agreement to lease the Home Reserve of the Little Pine First Nation.
Through this lease, Cavell has acquired the right to explore for petroleum and natural gas over the Home Reserve of the Little Pine First Nation, an area covering approximately 6,000 hectares (23 sections) of land in Cavell's Baldwinton-Birling natural gas core area. Cavell regards these lands as highly prospective for Colony natural gas production as the lands in question are largely undrilled and are adjacent to the Carruthers gas pool, which has produced nine billion cubic feet of natural gas. The company plans to undertake a seismic program and the initial drilling of two exploration wells.
"We are pleased with the relationship that we have developed with the Little Pine First Nation," said Murray McCartney, president and chief executive officer. "This agreement to lease the land provides Cavell with a new level of opportunity in an area where we have already shown a high degree of economic success. We anticipate that this area will assist the company to meet its growth goals for 2002."
Due to the recent results, Cavell has increased its production in the Baldwinton/Birling area to 3.9 million cubic feet per day. The company is currently in the process of tying in a recently drilled well with an additional well to be tied in the spring, and plans to drill 10 wells in this area during the course of 2002.

This is the type of News I am looking for. Deals like this will insure future growth for this co
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