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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE) -- Ignore unavailable to you. Want to Upgrade?

To: GC who wrote (149)	10/13/1999 4:42:00 PM
From: Ross	Respond to of 242

NEWS UPDATE October 13, 1999 Trading Symbol: CWY (ASE) MEDIA RELEASE COMMONWEALTH TEXAS DEVELOPMENTS UPDATE & WYOMING F24-5 BELTCH WELL TESTING SCHEDULED TO BEGIN… Commonwealth Energy Corp. ("Commonwealth" or "the Company") is pleased to announce that a service rig has been secured and the completion of the Straun Formation in the BYRD #1 well is set to commence. This well lies on the Company's Old World Prospect in Parker County, Texas. An independent engineering report completed on the Old World Prospect states that it contains proven and unproven natural gas reserves in excess of 15,000,000,000 cubic feet of gas (As referenced in the Company's April 19, 1999 Media Release). The Company also announces that the WARREN / THURMOND #1 well on the Company's Camp Colorado Prospect in Coleman County, Texas was put on production on September 14, 1999. The well was initially put on to production at 315,000 cubic feet of gas per day and is currently producing at 330,000 cubic feet of natural gas per day. The Company is planning to drill additional development wells on this Prospect. On October 5, 1999 Commonwealth purchased additional leases covering 2,186 acres adjoining the Company's Madren Draw Prospect in Wyoming. This increases Commonwealth's total land position for the connecting Alkali Draw & Madren Draw Prospects to 6,027 contiguous acres. Additionally, Commonwealth has secured a service rig to perforate and test the target zones in the F24-5 BELTCH well on the Company's Alkali Draw Prospect in Wyoming. The service rig is scheduled to begin the completion testing on Monday, October 18, 1999. For more information, please contact Bob Stewart or Doug Wolters at 1-800-950-2587 or visit the company web-site at www.commonwealthenergy.com. THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. COMMONWEALTH ENERGY CORP. Phone: 1-800-950-2587 or 604-531-3231 Web-site: www.commonwealthenergy.com E-mail: coenergy@direct.ca