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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C) -- Ignore unavailable to you. Want to Upgrade?

To: teevee who wrote (1958)	10/23/1999 8:03:00 PM
From: Bearcatbob	Read Replies (1) \| Respond to of 2306

Yo, teevee. What was it you were saying again about the leases?????? TURNER VALLEY PROJECT UPDATE October 21, 1999 Bearcat Explorations Ltd. considers the following information to be of significant importance to its shareholders. Stampede Oils Inc., operator of the Turner Valley oil and gas exploration group, has confirmed that the Company and its partners have received extension approvals for the continuation of 20 Crown petroleum and natural gas (P&NG) leases, totalling 12,090 acres in the overall Turner Valley prospect. Bearcat and its partners also hold an additional 17 P&NG leases comprised of a combination of Crown and Freehold rights, totalling approximately 10,368 acres. These leases are held by drilling arrangements, newly developed reserves and/or by more recently acquired primary term lease provisions. The Bearcat group holds a minimum of 116 Crown and Freehold P&NG leases totalling approximately 28,643 acres in the overall Turner Valley area. A significant number of the extended leases are located very strategically in the Turner Valley north area, up structure from the planned Stampede et al TV 11-15-21-3 W5M well. As of this Friday, October 22nd, it will be 3 1/2 months since the conclusion of the EUB public hearing regarding the application for the issuance of a drilling license for the 11-15 well. Stampede, the operator, is not aware of any possible reason for a further delay concerning this proposed well and is hopeful that a decision should be forthcoming shortly. The Stampede/Bearcat group has plans for the drilling of a well directly offsetting an old well that tested a significant oil recovery from the deep Regional Turner Valley reservoir at a depth of approximately 10,000 feet, in 1943. This new well will be drilled into the same reservoir in 7-34-20-3 W5M from a surface location at 14-27-20-3 W5M. As this surface location is actually within the Turner Valley oil field boundaries, it is not expected that any undue delay will be experienced regarding the issuance of a drilling license. The surface location for this 7-34 offset well has been surveyed and it is expected that drilling should commence in approximately six weeks time. Bearcat's interest in the overall Turner Valley area P&NG leases varies from 14.9% to 60.00%.