Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: johnlag who wrote (3474)	7/13/1999 12:18:00 PM
From: Salt'n'Peppa	Read Replies (2) \| Respond to of 15703

More area plays and a reference to our blowout in this NR... Ivanhoe Energy gains direct stake in California oil and deep-gas prospects through new acquisition: Ivanhoe Energy Inc. announced the company's acquisition of Diatom Petroleum Inc., of Bakersfield, California. As a result of the acquisition, Ivanhoe Energy now holds an exploration contract directly with Aera Energy LLC covering selected future work by the two companies within an exploration area of mutual interest in the southern San Joaquin Valley, one of the most productive oil regions in the United States. Aera's current land portfolio within the area of mutual interest totals more than 80,000 acres, consisting of fee acreage and hydrocarbon rights. Aera presently produces an average of 276,000 barrels of oil equivalent a day - making it the largest producer in California. ''While the San Joaquin Valley has been producing oil for generations, the dramatic gas discovery at the Bellevue No. 1 well, near the Lost Hills Field, last fall has created industry excitement over the new potential for deep-gas production in California,'' said Mr. Martin. ''Ivanhoe's acquisition of Diatom increases our participation in this action and gives us a direct role with Aera in planning and implementing exploration activities for this area.'' Ivanhoe Energy, which originally signed an exploration agreement with Diatom last summer, has acquired 100% of Diatom in exchange for 500,000 Ivanhoe Energy common shares. Diatom is now a wholly-owned subsidiary of Ivanhoe Energy. ''Rick Berry, former President of Diatom, and his team of highly experienced geologists and geophysicists - including partners Deborah Olson and Michael Stark - are continuing to work under contract to Diatom to identify and develop our future plays in the southern San Joaquin Valley,'' Mr. Martin said. Ivanhoe Energy will release additional information on further developments involving its activities in the San Joaquin Valley in the near future. The shares of Ivanhoe Energy are now trading on the Toronto Stock Exchange, under the symbol IE. In addition to its California interests, the company has two development projects in China with proven oil reserves and production-sharing agreements with China National Petroleum Corporation. It also has a joint venture project in Russia, which is subject to continuing litigation. (taken from Kerm Yerman's newsletter - July 13, 1999) S&P

To: johnlag who wrote (3474)	7/13/1999 1:35:00 PM
From: Carpedia	Respond to of 15703

TO ALL: Since this thread has a number of companies merged into it, concerning the ELH play and its players. Adding discussions about other companies and area plays is best addressed by starting a "GSJB AREA PLAY" thread, instead of adding more OT discussions here. Your consideration is appreciated.