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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: johnlag who wrote (6003)2/12/1999 6:28:00 PM
From: Len Hynes  Read Replies (1) of 24892
 
Hi Johnlag;
Here is another oil play that may interest your followers:

Sit Back and Watch The Action!!!!

My sources have confirmed that Pan Canadian spud a well on the Port au Port peninsula of Newfouldland on
Wednesday,February 10/99.This long awaited drilling should catch the attention of investors who are looking for a "fresh"
investment in the oil patch.

This well is being drilled in North America's last unexplored
sedimentary basin. According to Alan Boris, a spokesman for Pan
Canadian, this well will be drilled to a target about 2400 metres down
and is expected to take about three months.

Investors may remember that Pan Canadian and Hunt Oil drilled a
successful well (Port au Port #1) in 1995....test results indicated the
presence of high quality light oil in significant quantities.....up to
5012 barrels of oil and 9.19 million cubic feet of gas a day over a test

period of nine days.

Vulcan Minerals Inc. , the only active junior oil company in the area
has pledged to shareholders that it will drill a well on its Flat Bay
concession before May 31/99(25 km from Shoal Point) . In November 1996
Vulcan drilled a test hole to 500 ft. and bottomed in a 50 ft. interval
of petroliferous conglomerate which bled light brown,non-biodegraded oil

.
Subsequently, Vulcan has carried out a seismic program and has
identified favorable drill targets through the integration of
magnetic,gravity,seismic and geologic data.
Additionally, in January,1998, Vulcan was the successful bidder on three

large offshore petroleum licences in the Gulf of St. Lawrence adjacent
to the coast of Western Nfld. This makes Vulcan Minerals the largest
landholder and the only junior public company in the area.

Look for investors who follow prospective oil plays to begin giving this

play serious attention in the weeks ahead. Investors interested in
following this play should follow the company's discussion thread on
Silicon Investor site or visit Vulcan's website at:
info-mine.com

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