VANCOUVER, May 11, /CNW-PRN/ - Pan-Global Enterprises Inc.
VSE SYMBOL - ''PGE''
Mr. Arn Schoch, President, is pleased to announce that the drilling of a well at the Company's 12-6-18-22 W4M location,
Long Coulee area of Southern Alberta, has been completed and the drill rig has been released. Production casing has been
set to total depth. The well will be completed and production testing will be done shortly. This is the Company's third well
in Alberta in addition to the drilling of the two previously announced gas wells in the Lomond and Long Coulee areas of
Southern Alberta that resulted in a developmental well and a new pool discovery. The Company has also farmed in to
additional interests in its third well location.
The Company has entered into a farm in agreement with Esker Resources Ltd., whereby the Company will earn a 35%
interest in lands comprising 560 acres, on the Fenn Big Valley Leduc reef (''D-3'') in Central Alberta, by drilling a well,
6-14-37- 20W4M, adjacent to the Leduc ''F'' pool which has produced 14.3 million barrels of oil from the D-3. Drilling on
this, the Company's 4th well, commenced on May 8, 1998. There is also an additional potential zone of interest, known as
the Nisku (''D-2''), in the area.
On Behalf of:
PAN-GLOBAL ENTERPRISES INC.
Signed ''Arn Schoch'' |
