Commonwealth Energy Corp. (CWY.ASE) Message Board

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

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To: GC who wrote (71)	2/4/1999 10:50:00 PM
From: Leigh McBain	Read Replies (1) of 242

For those of you who are following: Do not expect any news this week. Lorne T. (President) is away this week, working on JV negotiations. He is unlikely to be doing or approving a NR from down there. The second of the re-entry wells is supposed to have been commencing today, but I can not confirm that the crew did indeed start. News should be out early next week confirming that. The Camp Colorado well that had the compressor added should have output #'s available as early as tomorrow, but again do not expect to see the news until Mon/Tue. One other item that has been brought up with some consistency, is the financing issue. I am being told that there are NO plans currently for a PP. As a matter of fact, if all 4 of the re-entry wells turn out as well as the first did, we may not see them do a PP for a while, they won't need to. If all 4 hit, they do have many other opportunities for re-entries, thru the same source. One thing to keep in mind, is that I have been able to verify that they do NOT have preset contracts in place for the other wells, so that first one will be more lucrative on a per production unit basis than the subsequent ones. Salut, Leigh McBain

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