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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)
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To: Bearcatbob who wrote (214)9/19/1997 5:29:00 PM
From: Dale Schwartzenhauer   of 701
 
CWQ has now broken out as well with its close at $0.20 today. We needed a close above $0.17 to break the downtrend and we got it. We'll be testing a well in the Chestermere next week that has a reported 149 meters of net pay. It's expected to be a 300-400 Bbls/day oil producer, but that large of a pay zone could make it 1000 barrels or more. Even with 2.5%, CWQ's cash flow should be very healthy. Berkley should get the go-ahead anytime, and Imperial is in hearings. Equally important perhaps is that the Forum appears to be on a fast-track now, since the city and/or school district would get something like $25-$45 million of royalties over the project life. That's a chunk of change for a struggling school district. We also hear that a major company is interested in the Cochise. So, when it rains it pours.

Dale
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