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Gold/Mining/Energy : Tusk Energy (TKE)

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To: Bearcatbob who wrote (912)	9/19/1998 12:29:00 PM
From: grayhairs	Read Replies (1) of 1207

Hi BearcatBob, I do hope that RCP begin exploiting their Turner Valley lands soon. I know that they were "considering options" a while back and I'm sure that they will be watching BEA's 7-25 completion and test with more than just a passing interest. TKE et al expect 3-22/2-22 to be tied in and producing by year end so cash flow from production of 8-10 MMCF/d will begin in the new year. They also did announce plans for both a "shallow development well" and a "deep development well" by late 1998 or early 1999. BEA's completion of the Crossfield zone in the 7-25 well should start mid week and hopefully the flow test will be underway by next weekend or early the following week. The Mississippian development well in section 15 has not yet been licensed although I have heard that an application has been made for same. My conclusion is not that there is something wrong with the prospects of these juniors. Rather, there just aren't any buyers of junior oil and gas stocks in the current bear market. That will change some day. The value can not be ignored forever. Later, grayhairs

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