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Gold/Mining/Energy : POE:VSE PAN OCEAN EXPLORATIONS INC.
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To: CIMA who wrote (129)5/16/1999 7:07:00 PM
From: Len Hynes  Read Replies (1) of 277
 
Hi CIMA:

A feature article in this weekend's Telegram entitled"Sensor reported to find oil deposits
from Airplane", describes how Pinnacle Oil Int. Ltd. with its Stress Field Detector(SFD)
technology, is predicting a commercial oil field at Pan Canadian's Shoal Point
well-site.The article reports that Encal offered Pinnacle an 8% royalty from its
percentage interest in the Shoal Point well.Dan Topolinsky,former senior VP of
exploration with Renaissance Energy, now President of Pinnacle claims that the
technology is 85% correct when it flies over oil or gas accumulation.

The SFD survey system operates on the theory that subsurface mechanical stress in
rocks and pressure differentials in fluids produce above ground, non-electromagnetic
energy patterns.

Having correctly predicted dry holes at AntiCosti Island, the technology is beginning to
garner the attention of oil exploration companies.With Pan Canadian approaching target
at its Shoal Point well, we won't have long to wait to see if Pinnacle has accurately
zeroed in on the "golden goose" that many oil exploration experts believe is lying in wait
somewhere on the West Coast of Newfoundland.

On another point,with or without success by Pan Canadian, it looks like Vulcan
Minerals will be the next Company to spud a test well on the Port au Port peninsula.
In a May 13/99 press release,Mr Pat Laracy stated that Vulcan will commence drilling
as soon as permitting is recieved from the Government of Nfld. and Labrador.Vulcan
has now entered into a drilling contract with Eastern Oilfield Services Ltd. to drill the
300 metre well on the Company's Flat Bay permit.

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