Commonwealth Energy Corp. (CWY.ASE) Message Board

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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE)

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To: Leigh McBain who wrote (67)	1/28/1999 12:22:00 AM
From: GC	Read Replies (1) of 242

Commonwealth Energy Corp - Commonwealth completes testing of Cates No. 1 well Commonwealth Energy Corp CWY Shares issued 24,488,948 1999-01-26 close $0.35 Wednesday Jan 27 1999 Mr. Bob Stewart reports The company has completed testing of the Cates No. 1 well in Parker County, Texas. The Cates No. 1, the first of four re-entry wells, has been tested at an absolute open flow rate of 1,775,000 cubic feet of natural gas per day. The primary zone that was recompleted is the Strawn series between the depths of 2,630 and 2,680 feet. All production equipment is in place and the well is already connected to the Sales line. There is a contract in place for the natural gas produced from this well at $3.89 (U.S.) per thousand cubic feet of gas, twice that of the current spot price for natural gas. Treatment of the second well in this program, The Chatham is slated to begin during the first week of February and will take approximately 10 days to complete. The results will be announced upon completion. (c) Copyright 1999 Canjex Publishing Ltd. www.canada-stockwatch.com

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