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

To: Richard Saunders who wrote (6751)	8/24/1999 1:08:00 AM
From: Craig C	Read Replies (1) \| Respond to of 24921

Richard - Last two deals POC and now Rigel aquiring comp's are paying a good price for current production. Of course the analysts are praising the deals and speculating on others. Keep the market hot. But for any one who wants a reminder how bad these experts are review Remington and the Blue Range fiasco this past winter. Those two take overs make these latest deals in the patch look very rich. The ones who came out empty were of course the shareholders. For those investing in any comp producing >10,000 BOED there are very few if any trading at 6x CF if you annualized the 2nd quarter results forward. Some of them are trading at greater than 9-10 x.If I'm wrong please post the company. Magin would be one I suppose but its only arond 8-9,000 BOPD. Funny thing those analyst are still pushing them in the post and globe. Take this info for what its worth.

To: Richard Saunders who wrote (6751)	8/24/1999 9:39:00 PM
From: CIMA	Read Replies (1) \| Respond to of 24921

Pan Ocean signs participation agreement for Ekho project Pan Ocean Explorations Inc POE Shares issued 3,031,035 Aug 24 close $0.18 Tue 24 Aug 99 News Release Mr. Brent Jardine reports The company has executed a participation agreement and a joint operating agreement with Tri-Valley Oil and Gas. In order for Pan Ocean to earn its working interest in Tri-Valley's Ekho project, Pan Ocean is required to finance 5 per cent of the initial $9.5-million (U.S.) authority for expenditure. The AFE includes a $1-million (U.S.) contingency. The Ekho project is a deep oil and gas exploration project in the San Joaquin Valley, Kern County, Calif., east of the now famous Bellevue No. 1 well. It is expected that the first Ekho project well will be spudded in the third quarter of 1999. Tri-Valley will be the operator and will conduct all drilling and production operations on the Ekho project. Pursuant to the terms of the participation agreement, Tri-Valley will be carried for 12.5-per-cent interest through drilling and completion. After completion, Tri-Valley will pay its proportionate share of well costs. After the partners are paid back their drilling and completion costs from production, Tri-Valley will back in for an additional 12.5 per cent to bring its working interest to 25 per cent. The company must participate in the first well in the project to earn the right to participate in any further wells and must further participate in the first three wells in order to earn the right to participate on a heads-up basis in other wells drilled within an area of mutual interest. The Ekho project area is in the Southern San Joaquin Valley, Kern County, Calif., one of North America's richest and most historic petroleum basins. The valley district has produced 11.4 billion barrels of oil and 7.1 trillion cubic feet of gas from 22 giant fields and dozens of smaller fields since the early 1900s. Tri-Valley started leasing acreage in the project area in 1997 and has, to date, leased approximately 10,000 acres within the area of mutual interest. The Bellevue No. 1 blowout demonstrated that California's Great Central Valley has the potential to exploit even deeper reserves of oil and gas and the flow rates indicate that giant reserves of oil and gas are possible. The similarities that exists between the stratigraphy and structure of the Bellevue No. 1 and Ekho project area, coupled with the presence of oil and gas in the surrounding wells, indicate that the Ekho project has the potential for a discovery similar to Bellevue No. 1. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: Richard Saunders who wrote (6751)	8/26/1999 8:01:00 PM
From: CIMA	Read Replies (1) \| Respond to of 24921

Thursday August 26, 4:44 pm Eastern Time Company Press Release TVOG Gets First Tranche On Project Ekho BAKERSFIELD, Calif.--(BUSINESS WIRE)--Aug. 26, 1999--Ten Canadian resource companies have executed final documents and paid their nonrefundable earnest money to participate in Project Ekho, a deep oil and gas play near Bakersfield, it was announced Thursday by Tri-Valley Oil & Gas Co., operator of the play. The balance of their subscriptions for the $9.5 million initial test well must be in no later than Sept. 15, 1999. The Ekho Project Area is located in the Southern San Joaquin Valley, Kern County, Calif., one of North America's richest and most historic petroleum basins. The Valley district has produced 11.4 billion barrels of oil and 7.1 trillion cubic feet of gas from 22 giant fields and dozens of smaller fields since the early 1900s. Even today the Valley District produces more than two times as much oil per day as the entire state of Oklahoma. TVOG started leasing acreage in the project area in 1997. Scheduled for 19,000 feet, the Ekho No. 1 will probe a huge, deep target mapped by TVOG from its proprietary and licensed data. The blowout last year of a deep well being drilled by other companies on the northwest flank of Project Ekho gave strong encouragement to TVOG and its partners that the Ekho potential is enormous. A well drilled to relieve and extinguish the blowout is now being completed with delivery estimates as high as 50 million cubic feet per day of high btu natural gas. Working interest partners on the Ekho No. 1 test well are: Company Stock Exchange/Symbol Initial Percentage Aster Ventures Corp. VSE / ASV 20% Curion Ventures Corp. VSE / CUV 20% Berkshire International Mining Ltd. VSE / BKR 10% Lucre Ventures Ltd. VSE / LVD 10% Consolidated Bradbury Int'l Equities Ltd. VSE / CBN 5% Curlew Lake Resources Inc. VSE / CWQ 5% CVL Resources Ltd. VSE / CVL 6.64% Pan Ocean Explorations VSE / POE 5% Prairie Pacific Energy Corp. ASE / PRP 5% Royal Int'l Venture Corp. VSE / RIL 5% Individuals 8.36% Total Initial Working Interest 100% These interests will be proportionately reduced by TVOG, which will be carried for 12.5% interest through drilling and completion. After completion, TVOG will pay its proportionate share of well costs. After the partners are paid back their drilling and completion costs from production, TVOG will back in for another 12.5% to bring its total working interest to 25%. This will apply on the first three wells in the project. Parties participating in all three initial wells earn an ongoing right of first refusal to participate on a well-by-well basis in subsequent wells in a comprehensive area of mutual interest. TVOG is the wholly owned subsidiary of Tri-Valley Corp., which is publicly traded over-the-counter on the electronic bulletin board under the symbol ''TRIL.'' Both companies have headquarters in Bakersfield and share the Web site www.tri-valleycorp.com. This news release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-QSB for the quarter ended June 30, 1999, and the annual report on Form 10-KSB for the year ended Dec. 31, 1998. -------------------------------------------------------------------------------- Contact: Tri-Valley Oil & Gas Co., Bakersfield F. Lynn Blystone/J. R. Kandle, 661/837-9300 661/837-9309 (fax)