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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: RIK who wrote (6666)	7/21/1999 1:25:00 AM
From: diddlysquatz	Respond to of 24941

Anybody here know anything about a little oil and gas service company called Cancoil (CAN-ASE)? I've heard some positive things about their coil tubing technology. I'm still kinda green in this area so any comments would be appreciated.

To: RIK who wrote (6666)	7/21/1999 6:16:00 AM
From: kingfisher	Read Replies (1) \| Respond to of 24941

LEY involved with VTI well? I doubt it,but will look into it. Richard

To: RIK who wrote (6666)	8/4/1999 7:26:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 24941

LOON ENERGY INC. ASE SYMBOL: LEYAUGUST 4, 1999Loon Announces Warwick Gas Discovery CALGARY, ALBERTA--Loon Energy Inc. is pleased to announce that it has participated in a gas discovery in the Warwick field in East Central Alberta. The Warwick well has been cased with two productive gas zones tested, the Camrose and Viking. The well has been completed in the Camrose zone and flowed gas at 2.7 million cubic feet per day (MMcfd) during completion. More extensive production testing will be done once the well commences production. The Viking zone, which flowed gas at 1.2 MMcfd on a drillstem test, was not initially completed due to the high deliverability of the Camrose zone. Tie-in of the well, a distance of approximately one-quarter mile, is underway and the well is expected to commence production in August. Loon anticipates an initial gross production rate of at least 1.0 MMcfd, of which Loon's net 25 percent share of sales gas and natural gas liquids (NGL's) would be 27 barrels of oil-equivalent per day (BOE/d). Loon's original interest was partially farmed out to a private company, such that Loon retained a 25 percent working interest in the well by paying 15 percent of the drilling and completion costs. This discovery was on a prospect generated by Loon. Loon's previously-announced gas discovery at Carvel, Alberta (news release March 15, 1999) commenced production April 11, 1999 and is presently flowing gas from one of the two completed zones at a restricted gross rate of 1.4 MMcfd, or 162 BOE/d taking into account NGL's. The second completed zone is expected to commence production in August, providing an estimated increase of 0.5 to 1.0 MMcfd, or 58 to 116 BOE/d (gross) with NGL's. Loon holds a 16.67 percent working interest at Carvel, 50 kilometres west of Edmonton in central Alberta. Carvel was Loon's first operated well and was also an internally-generated prospect. Loon's current production is approximately 70 BOE/d from two properties at Carvel and Grand Forks. Loon's Dina oil well at 7-24-44-1W4 (50 percent interest) has been placed on production and fracture stimulation is planned to establish economic production rates. At Dina North, Loon has negotiated a farmout of additional land and expects a well to be drilled in August. Loon is a public, Calgary-based oil and gas company. Its shares trade on the Alberta Stock Exchange under the symbol "LEY." -30-