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

To: kingfisher who wrote (1175)	10/28/1999 7:31:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 1207

Excerp from Cigar annual report from SEDAR.More information on NEBC properties.The part where it says partners are looking at several different options to tie in wells does not jive with what Renata has stated publicly that the first well would be tied in by October.The annual report dated second week in October.Hope they do not chose to discuss tie in options for very long.They may miss out on record gas prices. ................................................................. Exploration Properties Sahtaneh,British Columbia Cigar owns working interests in 29,500 gross acres (2,985 net acres) of land in the Sahtaneh area of northeast British Columbia. The acreage is prospective for sweet dry gas in the Jean Marie forma-tion, a widespread, gas-saturated carbonate that varies from 40 to 250 feet in thickness. Cigar participated in the drilling of two underbalanced horizontal wells on the lands. The initial well, located at d-90-J/94-I-12, finished drilling in July, 1999. Subsequent production testing proved favourable. The second well, located three miles west of d-90-J at location b-95-K/94-I-12, should fin-ish drilling in October, 1999. Cigar has a 15% working interest in the wells before payout and 10% after payout. Both wells were drilled using a new drilling technology designed to minimize the effects of for-mation damage while allowing for longer horizontal legs and higher penetration rates. This technolo-gy is designed to lower drilling costs and increase productivity. If it proves to be successful, a follow-up drilling program will be planned for the 1999/2000 winter drilling season. The partners are currently reviewing several different options to tie-in the wells.