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Gold/Mining/Energy : International Rochester Energy Corp. (V. ROH)
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To: T.Martin who wrote ()2/8/1997 1:26:00 PM
From: StockJock-e   of 188
 
We might see C$0.60 to C$1.00 this month if all goes well.

This the only info I could find:

Corporate Information: (800)665-2454 (604)684-7929

The drilling contractor being used to drill the Esteros #1 exploratory well, in the Alcaravan Association Contract in the Llanos Basin of Colombia, has begun moving the drilling rig onto the drill site. Road and location work have been underway for the past few weeks and are nearing completion. The drilling of the Esteros #1 well has currently begun. The well will be drilled to approximately 10,500 feet and will test for commercial quantities of oil in the oil prone
zones prevalent in the Llanos Basin: the Carbonera, Mirador, and the Guadalupe and Gacheta Upper Cretaccous formations. The well should require approximately 25 to 30 drilling days to reach its projected total depth. Rochester has an agreement with a subsidiary of Harken Energy Corp. of Irving, Texas, whereby Rochester may earn a 25% beneficial interest in a portion of Harken's Alcaravan Association Contract located in the Llanos Basin of Central Colombia. The
Company has prepaid its share of the dry hole and completion costs of the Esteros #1 well.Rochester is required to pay 33.3% of the costs for this first well to earn a 25% beneficial interest. On all further wells to which Rochester's beneficial interest applies, the Company may participate for an umpromoted 25% interest. The Alcaravan Association Contract is located in an active portion of the Llanos Basin with good infrastructure including pipeline access to a point of
export. Numerous fields have been discovered adjacent to the concession boundaries. Recoverable reserves from these fields range from 10 to 40 million barrels. The Palo Blanco prospect could hold reserves the high end of this range.
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