Commonwealth Energy Corp. (CWY.ASE) Message Board

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

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To: WAYNEW who wrote (74)	4/27/1999 2:09:00 PM
From: Leigh McBain	Read Replies (1) of 242

COMMONWEALTH ACQUIRES IMPORTANT LEASE ON CAMP COLORADO PROSPECT Commonwealth Energy Corp. ("Commonwealth" or "the Company") is pleased to announce that it has acquired additional acreage extending their Camp Colorado Prospect land holdings. Commonwealth signed a farm-in lease agreement on the entire Chapman Oil Company Lease comprising 1,454 acres in Coleman County, Texas (excluding the existing 4 producing well locations and a 40-acre spacing unit surrounding each producing well). The company is planning a 3 well drilling program this year with the first well to commence in May, 1999. This initial test well will offset one of the 4 existing wells in the field, which cumulatively have produced more than 4.5 Billion cubic feet of gas. The company was eager to acquire this lease after an aerial survey conducted by Electro Seise Inc. identified several strong hydrocarbon anomalies. The Chapman lease adjoins Commonwealth''s 1,299.78 acre existing block in Camp Colorado giving the company a total contiguous acreage position of approximately 2,600 acres to explore and develop. For more information, please contact Bob Stewart or Doug Wolters at 1-800-950-2587, or Michael Du Mont at (604) 662-8884. THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. Phone: 1-800-950-2587 Fax: 1-604-536-2369 Web-site: www.commonwealthenergy.com E-mail: coenergy@direct.ca

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