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

To: Bearcatbob who wrote (4382)	9/1/1999 12:34:00 PM
From: grayhairs	Respond to of 15703

Thanks for the link, Bob. <<One priority area for Ivanhoe Energy is Lost Hills, where the discovery by Berkley Petroleum at East Lost Hills has stirred industrywide interest in the potential of deep-gas prospects in the San Joaquin Valley. Ivanhoe Energy has directly leased approximately 4,000 acres at Lost Hills, in partnership with other operating companies. In preparation for a start to drilling, Ivanhoe and its partners are commencing an additional seismic program on this acreage to supplement currently available seismic information. The planned well is directly on structural trend with Berkley's three wells at East Lost Hills, including the Bellevue No. 1 blowout. Berkley's recently spudded third well is within three miles of Ivanhoe's acreage. Ivanhoe Energy will release additional details in the near future as developments occur and as its plans are finalized. As recently announced, Ivanhoe Energy also has agreed to a 12-1/2-per-cent working interest in Berkley's Lucky Dog No. 1 exploration well, which is scheduled to be drilled either late this year or early next year. The Lucky Dog prospect is 17 miles south of the Bellevue wells, near the Belridge field.>> I'm just reading between the lines but it looks to me like we now have an interest in yet another 4,000 acres of choice acreage. Why else would the GSJBJV have backed Ivanhoe in for 12.5% of the Lucky Dog prospect ?? Later, grayhairs