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Gold/Mining/Energy : GENTRY RESOURCES LTD. (GNY.B - TSE)

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To: Tim Cruise who wrote (211)	1/8/1998 8:24:00 PM
From: Bob Vukovich	Read Replies (2) of 601

Hello Everyone: Let me give you a little breakdown of what Gentry doing in the first quarter. Gentry and its partners will be very active in the first quarter of 1998. Drill Plans in Canada for the First Quarter: Unit Name--------Operator--------Number and Types of Drilling Steelman -----Canadian Natrual---4 to 6 Horizontal Wells Bensen ------------Rigel-------- 1 Horizontal Well Virden -----------Chevron------- 2 Vertical Wells Baldwinton------Beau Canada----- 6 Vertical Wells Weyburn/Midale--Pan Canadian---- At least 6 Horizontal Wells Gabon: West Africa No date set yet for drilling. It is anticipated that the spudding of the first well will occur around the end of the first quarter. NOTE: Ocelot OCE.B--TSE has drilled its first well in Gabon circa the end of the fourth quarter of 1997. This block, called the Obangue, is located approx 15 km northeast of Gentry's Ofoubou block. Ocelot's block flow tested at 1650 boe/d. Cote d'Ivoire: West Africa Gentry now has working interests in three offshore blocks CI-101, 102 and 103, encompassing at total of 6561 sq kilometres. The area is prone to both oil and natural gas discoveries. The value assigned to gas fields is increasing as the infrastructure and market for natural gas rapidly develop. The Foxtrot field, operated by Apache, contains close to 300-500 bcf of natural gas. Apache recently signed a contract to supply 200 bcf over the next 10 years to the government of C“t‚ D'Ivoire. In addition, other markets in neighbouring Ghana are quickly developing. A pipeline is planned from the Foxtrot field to be tied into the gas pipeline running from the Panthere field to a power plant near Abidjan, the capital city of C“t‚ D'Ivoire. From Abidjan a pipeline is proposed to go to Ghana where a new 300 MW powerstation at Takoradi is due on line this year. In addition, United Meridian is planning a new LPG plant at Abidjan that will take 75 mmcf/d and produce 1,550 b/d of liquids. The bottom line is that a natural gas discovery for Gentry could become a cash-flow generator in the near term. Short term: evaluate the 2D siesmic, shoot some infill 3D siesmic and then evaluate drill targets. Please view our website at gentryresources.com or give me a call at 1 888 876 7197 (North American Toll Free) if you have any questions. Bob Vukovich Manager of Investor Relations Gentry Resources Ltd.

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