FOR IMMEDIATE RELEASE
Toronto Stock Exchange
Trading Symbol: TDE
ZEYNEL-11 WELL, ZEYNEL FIELD, S. E. TURKEY
TESTS @ 3,000 BOPD
CALGARY, ALBERTA, CANADA, October 26, 1998 - Trans-Dominion Energy
Corporation has been informed by the Operator of the Zeynel Field, Aladdin Middle East Ltd. that the most recent well drilled in the Field, Zeynel-11, has tested at an initial rate of 3,000 bopd of 24o API oil.
This initial production rate is the highest that has been recorded, to date, in the Zeynel Field and is probably due to extensive fracturing of the reservoir near the well-bore. The sustained flow rate from the well is likely to be lower than this initial rate.
Trans-Dominion Energy Corporation has a 12.5% gross overriding royalty on the Zeynel Production Lease.
Looks like things may begin to turn around. I heard that one of the reasons that the prices has been so low for so long it that there is an individual trying to dump over 1,000,000 shares.
mmendes |
