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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (49521)	8/19/1999 12:42:00 PM
From: dfloydr	Read Replies (2) \| Respond to of 95453

Interpretation needed: I picked this newsrelease up from a poster on the Yahoo MEXP board: MEXP has the other 50% working interest in this exploratory field: Thursday August 19, 11:23 am Eastern Time Company Press Release SOURCE: K2 Energy Corp. K2 Drilling Update CALGARY, Aug. 19 /CNW-PRN/ - K2 Energy Corp. (TSE: KTO - news) is pleased to announce that its first wildcat well, Osprey No.1, on the Blackfeet Indian Reservation in northern Montana has encountered a flow of hydrocarbons to surface. The rate and composition of the hydrocarbons has yet to be determined. The well is currently at a depth of approximately 3,800 feet and is continuing to drill in order to evaluate deeper horizons contained within the ``Triangle Zone'. Osprey No.1 is being drilled with advanced Canadian drilling technology and a 92% native Blackfeet crew. K2 will issue further results once testing has been completed. K2 is the operator and holds a 50% working interest in the well. SOURCE: K2 Energy Corp. So, what does "encountered a flow of hydrocarbons to surface" imply to you oil hands? To me this does nothing more than confirm that they found - or spilled - some oily stuff. Is this just guarded language used in the industry? I like the image of Blackfeet Indians working around an oil rig ... it seems to be a very good omen ;-)