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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE)
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To: Leigh McBain who wrote (72)2/10/1999 9:11:00 PM
From: Kerlan  Read Replies (1) of 242
 
someone's post from Traders cents
To:All
Subject:CWY info.

I'm sure Doug would not mind if I posted the following information:

Kevin,

We expect to receive the information on what we can produce the Warren #1 & Cates #1 wells at very soon. This morning our driller told us that he is working on them today and it won't take much longer. We should know by Friday. Also, the second recompletion well known as the Chatham is commencing this week. We are looking forward to these results.

Now in regards to your question of whether ongoing operations are in line with the companies expectations and objectives. Very much so. We believe that we will substantially improve our cash flow position once we have completed this recompletion project and a couple of wells on the Coleman County Prospect. We can then implement a strategy to drill out the large Coleman County Prospect and other gas projects which will add a tremendous amount of value to the company. In addition to this we are targeting July to do a test well on one of our premier prospects in the Powder River Basin of Wyoming. Our Wyoming Prospects have enormous potential reserves in both oil and gas. The 7 channel sand prospects (more info on web-site on these) alone have potential reserves of over 60,000,000 Barrels of Oil. Our five year goal to January, 2002 is to accumulate 10,000,000 Barrels of Oil equivalent. This is very achievable and paints a pretty picture for the outlook on our stock price.

Look for the trading volumes to increase soon as we should have some news out shortly.

Call me if you need additional information.

Thank-you for your interest;

Doug Wolters
Commonwealth Energy Corp.
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