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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (14899)	1/19/1999 2:18:00 PM
From: Kerm Yerman	Read Replies (2) of 15196

CORP REPORT / Thunder Energy Inc. 1998 Year End Reserves CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today 1998 year end reserves as determined by its independent engineering consultants, Sproule Associates Limited. Total additions from drilling, acquisitions and revisions for the year were 1.4 million barrels of oil and ngl's and 10.3 BCF of gas. Reserve additions replaced 408 percent of 1998's production with year-end reserves growing 30 percent over the previous year. During the year Thunder drilled a total of 33 wells (16.5 net) resulting in 21 gas wells (10.5 net), 9 oil wells (4.5 net) and 3 dry holes (1.5 net). All of the wells were operated by Thunder and drilled in its three core areas. Total capital expenditures for 1998 are estimated at $12.5 million. Finding and development costs are estimated at $5.14 per BOE on a proven plus probable basis and $5.46 on a proven basis only. Thunder's three-year average finding and development costs are $4.11 per BOE and $4.96 per BOE on a proven plus probable and proven basis respectively.

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