Mailing of shareholder letter and Turner Valley details
Curlew Lake Resources Inc CWQ
Shares issued 21,129,526 May 20 close $0.14
Mon 25 May 98 News Release
See Stampede Oils Inc (STF) News Release
Mr. P. de Bruycker reports
Stampede Oils, the operator of the Stampede Oils/Bearcat
Explorations/Curlew Lake Resources group participating in the Turner Valley
oil and gas project in southwestern Alberta, advises that a shareholder
letter, along with several of the company's detailed geological/seismic
interpretations of the Turner Valley North project, the basic ones which to
date have been 100 per cent correct, will be mailed during the week of May
25, 1998.
An application for an amendment to the existing Stampede Bcat et al TV
7-25-20-3 W5M well licence for the planned deepening/drilling operation of
this well was submitted for the necessary regulatory body approval on
Wednesday, May 21, 1998. The currently suspended 7-25 well is to be drilled
approximately 1,900 feet deeper into the base of the Devonian Wabamun
Crossfield member to an expected total depth of approximately 12,200 feet.
A minimum of 185 feet of net gas pay is anticipated in the Crossfield at
this location. The well spacing unit should contain approximately 50
billion cubic feet (bcf) of recoverable gas reserves. This drilling
operation is expected to commence in the latter part of June and should
take approximately two weeks. The Stampede/Bearcat et al group has a
minimum 50 per cent interest in the 7-25 well.
The company will be submitting, near the end of this month, an application
for a drilling licence for the Stampede et al Turner Valley 6-15-21-3 W5M
location, offsetting the IMP Berkley Turner Valley 2-21-21-3 W5M discovery
well by approximately one-half mile. This well will be licenced for a
Regional Mississippian Turner Valley gas well. The target Turner Valley
formation reservoir is expected to be encountered approximately 50-100 feet
higher than in the IMP Berkley 2-21 discovery well, in which the operator
has determined 100 feet of net gas pay. The well spacing unit should
contain a minimum of 40 bcf of recoverable gas reserves. Drilling of the
6-15 well is expected to commence near the end of June. The
Stampede/Bearcat et al group has a minimum 64 per cent interest in the 6-15
well.
Additional pertinent information regarding the recently drilled 2-21
discovery well will also be included in the upcoming shareholder letter.
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