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

To: ogod who wrote (5026)	9/20/1999 10:57:00 AM
From: Fred C. Dobbs	Read Replies (1) \| Respond to of 15703

Hilton Petroleum Ltd. 9/20/99 - Update Bellevue #1, Berkley #1, Cal Canal Well HILTON PETROLEUM LTD. ("HTP-V;HTPTF-L") - Update Bellevue #1, Berkley #1, Cal Canal Well Donald W. Busby, Chairman, Hilton Petroleum Ltd., announces that the Bellevue #1-17R at East Lost Hills is currently being completed in the upper Temblor zone. As part of the completion process a decision has been made to run a downhole VSP ("look ahead seismic survey") prior to starting production testing. This survey should be completed by September 20, 1999. This survey is designed to accumulate downhole data that will help provide a more complete geological picture of the undrilled Temblor sands. Production testing is scheduled to start on or about September 27, 1999. The Berkley #1 is drilling at approximately 10,500 feet and it is expected it will reach a depth of 11,500 feet within the next two to three days, at which point second stage casing will be set. The process will take an estimated seven to ten days. The Berkley #1 is a 2.3 mile step-out northwest of the Bellevue #1-17R and is scheduled to reach target depth in December, 1999. Intermediate stage casing at the Cal Canal well has been successfully completed and drilling is expected to recommence on or about September 22, 1999. Casing has been set approximately 150 feet above the top of the Temblor zone. The Company remains confident the East Lost Hills discovery is a world class discovery both because of its size and location. The VSP conducted at Cal Canal was very encouraging. A discovery at Cal Canal will have a significant impact on the Company. If successful, two discoveries will have resulted from the drilling of two exploratory prospects with several additional prospects still to be drilled. Cal Canal is 1.5 to 2 miles east of Lucky Dog, the next prospect to be drilled after Cal Canal. The geological interpretation suggests the probability of success at Lucky Dog is greatly enhanced if Cal Canal is successful. The Company will continue to keep you informed as to the new developments. TEL: (604) 685-9316 Hilton Petroleum Ltd. FAX: (604) 683-1585 Donald W. Busby, Chairman Internet: www.hiltonpetroleum.com _____________________________ (c) Corporate Dissemination Services Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041. ¸ 1999 StockHouse.com \| Disclaimer