SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : KERM'S KORNER
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kerm Yerman who wrote (9648)3/20/1998 8:02:00 AM
From: Herb Duncan  Read Replies (1) of 15196
 
FIELD ACTIVITIES / Thunder Energy Inc. Announces Exploration
Joint Venture

TSE SYMBOL: THY

MARCH 19, 1998



CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today
it has entered into an exploration joint venture with an industry
partner. Under the terms of the agreement a total of $5 million
will be spent on land and seismic costs in 1998. The industry
partner will pay 100 percent of the costs in 1998, Thunder will
equalize into the joint venture in 1999. Future drilling costs,
operating costs and revenues will be split 50-50 between the
parties.

Thunder will use this joint venture to aggressively build its land
and prospect inventory during the year. Expansion will occur at
its three core properties as well as the development of new core
areas. The deferral of land and seismic costs until 1999 allows
Thunder to focus its 1998 capital budget on drilling activities.

1998's capital budget has been estimated at $12 million. Thunder
expects to drill a total of 35 gross (18 net) wells during the
year. Drilling targets will be primarily gas with emphasis at
Rosalind and Matziwin where Thunder has excess capacity at its
plants. Current production levels have reached 1,100 bbls/d and 9
mmcf/d on track for year end production rates of 1,300 bbls/d and
14 mmcf/d.

Thunder Energy is a Calgary based oil and gas exploration company
operating in Alberta. Thunder's shares are traded on the Toronto
Stock Exchange under the trading symbol "THY".
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News