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Gold/Mining/Energy : Central Pacific Minerals & Southern Pacific Petroleum

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To: Erwin Jackson who wrote (66)	10/16/1998 9:22:00 PM
From: zonadona	of 90

The following was part of Suncor's press release recently regarding their latest quarterly results: Construction Moves Forward in Australia During the quarter, the Alberta Taciuk Processor (ATP) arrived at the Stuart site, north of Gladstone in Central Queensland. The ATP is the core-processing unit of the demonstration plant and its performance in recovering petroleum from the oil shale is a critical factor in the economic success of the project. Its arrival was a major milestone for Suncor Energy and its joint venture participants, Southern Pacific Petroleum NL [Nasdaq:SPPTY - news] and Central Pacific Minerals NL [Nasdaq:CPMNY - news]. The next step involves mechanical completion of the project by the second quarter of 1999, with production expected by the end of 1999. The project continues to be on budget and on schedule and is targeted to produce 4,500 barrels of oil per day.

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