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 : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Len Hynes who wrote (6851)	9/19/1999 9:06:00 PM
From: Len Hynes	Read Replies (1) \| Respond to of 24921

Vulcan Minerals makes New Discovery: It's time that we pulled together some of the salient points of information that can be gleaned from Vulcan Minerals Inc. recent onshore oil exploration program at Flat Bay, western Newfoundland , as well as from other exploration in the area.Here are some of these points: 1.First of all, since the early 1800's, the presence of hydrocarbons in western Nfld. has been known through numerous surface oil seeps in the area,as well as production from shallow reservoirs.Residents of the area used this oil and oily residues for many purposes, including greasing wheels and fueling lamps.These seeps prove the existence of mature oil producing rocks,which is a necessary prerequisite for hydrocarbon accumulation. 2.An exploratory well drilled by Hunt Oil and PanCanadian in 1994 encountered light oil at 11,500 ft. that flowed at a rate of 1700 bopd and 2.3 mmcfd. 3.Vulcan Minerals drilled a shallow test hole in 1996 that penetrated an oil-bearing formation at 137-152 meters in Carboniferous-aged sediments. 4.In Feb'99, PanCanadian spudded a directional exploration well at Shoal Point to test an offshore target at depths of 2400 meters and 3300 meters, but failed to discover significant hydrocarbons at the 3300m level.No mention was made of findings from their primary target at 2400m, and many industry observers suspect that the company failed to intersect this potential 130 million barrel structure. 5.On Sept. 15/99, Vulcan Minerals suspends operations at Flat Bay #1 after drilling intersects more than 100 meters of significant oil shows. These shows consist of the presence of live oil in the drilling fluid and extensive flourescence in drill cuttings indicative of an oil bearing formation.This is the first on-shore well on Nfld's West Coast that has successfully encountered significant oil at shallow depths in the St. Georges Basin...brand new discovery. This well holds the potential for large pay zones. 6. Flat Bay #1 has confirmed the findings of geological studies that the necessary ingredients for a hydrocarbon discovery exists in this basin, including a hydrocarbon source,trap(anhydrite) and reservoir rock. 7.Oil in commercial quantities at Flat Bay #1????Maybe!Only when production casing is installed and stimulation of the key sections of the reservoir is completed will we really know for sure. 8.Vulcan stopped drilling at 286 meters, 13 meters short of TD.The question remains if basement rock was encountered, or was the drill still into oil bearing sediment....I'm sure we'll find out at some time in the near future. 9.Mr Pat Laracy , President and CEO states that his next move will be to prepare to drill an exploration well on the St. Georges Arch structure approx. 3km. northeast of Flat Bay #1 to an anticipated depth of 1000 meters(Ordovician aged target).The St Georges Arch is anticipated to contain three reservoir targets, including the target penetrated in the Flat Bay #1 well. Professor Elliot Burden of Memorial University states "the structure they're talking about drilling now is a target I've always found interesting...I've seen it on geological maps for 20 years now."Recall that the Hunt Oil discovery in 1997 demonstrated the presence of high quality,sweet oil in Ordovician aged reservoirs. 10.In January,1998 Vulcan was awarded three offshore western Nfld. petroleim parcels (1.2 million acres), making Vulcan the largest landholder in the entire Nfld. offshore, which includes Western Nfld. and the Grand Banks area. 11.Imagine the explosive potential of this junior exploration company, should Flat Bay #1 prove to be economic,or Flat Bay #2 prove up economic quantities of oil when drilled in the near future.Vulcan's offshore properties alone would be worth a fortune before a well is drilled. I trust that the foregoing information helps put in perspective the exciting potential that exists for Vulcan Minerals to "hit the jackpot" in Western Newfoundland.

To: Len Hynes who wrote (6851)	11/7/1999 11:07:00 PM
From: Richard Saunders	Read Replies (2) \| Respond to of 24921

Offshore Nova Scotia & Alberta Numbered Co. Searches. Alberta Numbered companies first........ Hopefully the following may be of use to anyone so inclined to do some investigative research regarding the individuals that may be found behind numbered Alberta companies. The Province of Alberta has privatized a previously gratis service regarding Corporate Searches. Alberta now charges "AUTHORIZED SERVICE PROVIDERS" a $10 "government fee" for completion of a Corporate Search and these "authorized service providers" are then able to re-coup the government fee as well as an uncapped "service fee" for providing specific Corporate Search information to the public. There are many "authorized service providers" and --as with most things-- it pays to shop around......... Here's a link to one service I recently used, total cost charged to a credit card for one search was $15.35 plates.net The direct link to the online entry form will have to be entered in manually as it is at a "secure" site (reason for the https://... address) and it is at plates.net Results were obtained via email with an Adobe .PDF file within approx. one hour of entering an online request. Intent with this spiel isn't meant to advertise, it's purely meant as a potential useful tool for personal investment research purposes. A list of all authorized service providers (228 retrieved with search) can be obtained at: gov.ab.ca 'Nuff said 'bout that......... On Friday, Nov. 5 some exploration rights for offshore Nova Scotia land were awarded - 11 posted parcels translates into just over $61mil dollars. At present, petroleum companies are indicating that they are going to commit close to $900mil in exploration works. Possibly something to keep an eye on?......... The Sable Offshore Energy Project isn't included in the above numbers and it is expected to cost around $3bil and should come into production later this year. Bottomline, significant petro capex spending is in works for the east coast. If anyone is watching/tracking East Coast activity then some of the following links may also be of some use. Nov. 5 Press Release re: award of exploration rights: gov.ns.ca Bid Results: cnsopb.ns.ca Overview Map: cnsopb.ns.ca Same Map, Different Scale: 205.150.149.160 Historical Call For Bid Info.: 205.150.149.160 Summary Sheet 205.150.149.160 Happy hunting.......