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Gold/Mining/Energy : Tusk Energy (TKE) -- Ignore unavailable to you. Want to Upgrade?

To: grayhairs who wrote (1172)	10/27/1999 3:51:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 1207

Tusk little sister company doing OK.If they keep adding production at that rate they will soon catch up to Tusk and be able to launch a take over for its parent company! ............................................................... Loon Doubles Production CALGARY, ALBERTA--Loon Energy Inc. is pleased to announce that it has doubled its production after its Strachan and Warwick gas wells commenced production in October. These wells have increased Loon's production to 130 barrels of oil-equivalent per day (BOE/d) as compared to 62 BOE/d in the second quarter. Natural gas now comprises 75% of Loon's production base. At Strachan, the 2-22 discovery well has been tied in to the Gulf Midstream Strachan gas plant. The well commenced production from the Beaverhill Lake formation October 12, 1999, and is now producing at a raw gas rate of 5.5 MMcf/d. Loon expects the well to stabilize at 5 MMcfd of raw gas, of which Loon's net share of sales gas and NGL's (10% BPO, 5% APO) would be 33 BOE/d. Loon's Warwick 5-36 gas well commenced production October 21, 1999 on test at a rate of 1.5 MMcfd. Loon and its partners expect to produce the well at 1.2 MMcfd, of which Loon's net share (25%) would be 31 BOE/d with NGL's. Loon's production base is now divided amongst four properties: Strachan, Warwick, Carvel (gas) and Grand Forks (oil). Loon plans to drill at least 4 wells before year-end, most of which are based on internally-generated prospects. Plans are underway at Epping, Silverdale, Carvel, Forty Mile Coulee, Birch and other areas. The Company has also applied to the Alberta Stock Exchange for approval to issue a maximum of 4,500,000 flow-through and ordinary common shares at prices of $0.12 and $0.10 per share, respectively. This financing will be conducted by the Company directly with no agent and will be offered to subscribers eligible under certain securities exemptions. Proceeds will be used to develop the Company's oil and gas prospects and for general working capital purposes. The Company may close the financing at less than the approved maximum number of shares, based on the level of cash flow and capital requirements at the time of closing. Loon is a public, Calgary-based oil and gas company. The Company currently has 10,481,124 common shares issued and outstanding. Its shares trade on the Alberta Stock Exchange under the symbol "LEY." -30- FOR FURTHER INFORMATION PLEASE CONTACT: Loon Energy Inc. Tom H. Field President & CEO (403) 264-8877 (403) 263-4247 (FAX) The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

To: grayhairs who wrote (1172)	12/8/1999 7:54:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 1207

Hey Grayhairs, Interested in coming out of retirement?Help wanted at Tusk. TUSK Energy Announces Resignation CALGARY, ALBERTA--TUSK Energy Inc. (TSE:TKE) announces that Calvin G. Gabel has resigned as Vice President Exploration to pursue other business interests. Mr. Gabel may be reached at the TUSK office until December 17, 1999. TUSK is a junior oil and gas company with approximately 700 boepd in current production. TUSK's main producing area is Meekwap, Alberta which represents approximately 84% of total production. Another important project to the Company is Strachan where a Slave Point gas well, discovered in 1998, went on production in mid-October. A decision on the location for additional drilling to evaluate the potential of the deep objectives (Leduc & Swan Hills/Slave Point) will be made around the end of the year. The pace of TUSK's drilling program has accelerated in the past few months. After drilling only three wells (all gas wells) in the first nine months of the year, TUSK will participate in at least 7 wells during the fourth quarter. Two of these, both at Meekwap, Alberta, have already been drilled resulting in one oil well (0.17 net) and one dry hole (0.42 net). Completion work on the new Meekwap oil well will commence later this week. The other five, three on gas prospects and two on oil prospects, will be drilled in December. -30- FOR FURTHER INFORMATION PLEASE CONTACT: TUSK Energy Inc. Norman W. Holton President (403) 264-8875 (403) 263-4247 (FAX) tusk@tusk-energy.com tusk-energy.com