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 ()	1/28/1999 12:27:00 PM
From: Leigh McBain	Read Replies (1) of 242

Just a quick note. I have been told point blank that there is NO intention of doing a PP before these 4 re-entry wells are completed and probably NOT before the "big target" Coleman County well is drilled (prior to end-of-feb). Additional note - the release that was made regarding the current well and it's production rate of 1.775 mcf and a contract sale rate of $3.89 usd will stand. I have been informed that the contract price will be honored. This well was originally expected to account for up to 400,000 cf of a possible 2,900,000 cf cumulative total from the 4 re-entry wells. There is no basis, as of yet, to assume that all 4 will come in that much stronger than expected however, we are still way ahead of the company's original forecast. The Camp Colorado that is being treated currently and should be announced early next week has a target of somewhere in the 200k cf per day range. This well was strictly a test well, this was NOT expected, or meant to be, THE PRIME target. Expect further announcements shortly with respect to additional leasehold acquisitions, to further bolster the company's fast improving asset base. Salut, Leigh McBain

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