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: SofaSpud who wrote (11718)7/22/1998 7:09:00 AM
From: Kerm Yerman  Read Replies (1) of 15196
 
FIELD ACTIVITIES / Goldnev Resources Inc. Commences Drilling In Texas

GOLDNEV RESOURCES INC. ANNOUNCES COMMENCEMENT OF DRILLING AT COOS
NATURAL GAS PROSPECT IN TEXAS

VANCOUVER, July 21 /CNW/ - Goldnev Resources Inc.
TRADING SYMBOL: VSE-GNZ

Goldnev Resources Inc. (the ''Company'') is pleased to announce the
commencement of drilling operations at its Coos natural gas prospect in
southwest Texas. The Barnes ''39'', Well No. 1 is planned to drill to total
depth of 12,900 feet in the Ordovician age Ellenburger dolomite formation.
Drilling operations commenced with Patterson Drilling Rig No. 117 on July 16,
1998 and are forecast to take 25 days. Air drilling technology is being used
to reduce drilling costs and to enable evaluation of gas flow rates concurrent
with drilling operations.

The primary prospect is a development location in the Strawn formation
with potential of 2.5 billion cubic feet (BCF) gross reserves. Exploratory
potential of the deeper Ellenburger formation is in the order of 9 BCF per
well and it will also be evaluated with this well. Gross production is
subject to 25% net revenue royalty and the Company holds a 50% working
interest in the leases. The leases cover rights in all formations below 800
feet on 2583.8 acres, with the exception of 163 acres in section 42, at the
existing Strawn gas well, where the Company holds rights in formations below
the Strawn formation.

If the first well is successful, the Company anticipates drilling as many
as 3 more wells on the structural high defined by seismic and well control.
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