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Gold/Mining/Energy : DALTON RESOURCES DAL:ASE -- Ignore unavailable to you. Want to Upgrade?

To: kingfisher who wrote (483)	11/8/1999 8:58:00 PM
From: Garry R.	Read Replies (1) \| Respond to of 486

Its so quiet on this thread I can hear the share price dump! I have been in this play for 18 months and shesh things sure are creeping along. Share price closed at .10 x .13. Hasnt been that low in quite some time. Anybody else thinking of bailing? It took them 1 year to get this well online, and now that they are indisagreement how to go forward, are we gonna have to wait for another year? Since noone posted this NR: Dalton closes Nevis acquisition Dalton Resources Ltd DAL Shares issued 22,269,278 1999-11-01 close $0.12 Thursday Nov 4 1999 Mr. Doug Robertson reports The company has closed a property acquisition in the Nevis area of Alberta. Dalton acquired a 50-per-cent working interest in the Nevis property for a total of $450,000. The property consists of one section of land with five producing Blairmore oil wells, gathering system, treating facility and solution gas compression. Dalton has assumed operatorship of the property. Net sales volumes to Dalton from the Nevis property on a daily basis are 24 barrels oil, 90,000 cubic feet of gas, and three barrels of natural gas liquids. Additional revenue is derived from third party processing and compression. An independent engineering report has valued the proven producing reserves at $506,000 using a 15-per-cent discount and a West Texas Intermediate base price of $17.75 per barrel. Additional value to the property lies in undrilled locations, probable reserves and third-party processing. The acquisition was financed from Dalton's cash account and the existing corporate credit line. At Strachan, the 2-22-38-9W5M well continues to produce at its forecast rate of five to six million cubic feet per day. With the completion of this acquisition, Dalton will exit 1999 with a production level of 175-185 barrels of oil equivalent per day of which 65 per cent is gas production. Thoughts anyone? Anybody figure out what Daltons cash flow/share price should be considering the latest NR's?? Garry