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Gold/Mining/Energy : Solana Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: Taff who wrote (336)	11/9/1999 12:55:00 PM
From: Taff	Read Replies (1) \| Respond to of 1747

50 MMCF/D did any of you note that How the ell did SOP pick up this play?? any comments CG stock is $64.00 quote.yahoo.com The first well demonstrated an open-flow rate estimated at approximately 50 million cubic feet of natural gas per day as it was flared while the wellhead assembly was installed. Bottom-hole pressure, gauged initially at 6,600 pounds psi, has been sustained through its first month of full production. ref : columbiaenergygroup.com Columbia Natural Resources Confirms Trenton Gas Prospect With Second Successful Well CHARLESTON, W.Va., Oct. 14, 1999 - Columbia Natural Resources, Inc. (CNR), the exploration and production unit of Columbia Energy Group, announced today that it has successfully discovered natural gas in a second well in the Cottontree Field in Roane County, W.Va. A natural flow of gas was found at a depth of 9,630 feet in the top of the target formation. The well's operational characteristics are similar in many respects to the original discovery well announced in June 1999; additional drilling and testing will be conducted. Both wells penetrated the Trenton-Black River formation and encountered natural gas flows at pressures considered extraordinary in the Appalachian Basin. The first well demonstrated an open-flow rate estimated at approximately 50 million cubic feet of natural gas per day as it was flared while the wellhead assembly was installed. Bottom-hole pressure, gauged initially at 6,600 pounds psi, has been sustained through its first month of full production. "The geologic characteristics of these two West Virginia wells appear analogous to prospects CNR has successfully developed in New York in the Trenton-Black River formation," said W. Henry Harmon, CNR president and CEO. "We have been successful on 70 percent of wells attempted in the Trenton formation in the New York sub-basin, where CNR has established production from 28 wells." This second well is the fourth successful well out of five tests conducted by CNR this year. The company expects to complete two additional test wells in similar structures at other West Virginia locations before year-end. "CNR will continue its aggressive efforts to explore the deeper potential of prospects throughout the region, exploiting its mineral holdings on more than 2.6 million acres," Harmon noted. The company has developed locations and is prepared to drill 12 wells in 2000 to expand and develop these Trenton prospects in West Virginia. Jack Watson, CNR vice president of operations, said, "We are still working to determine the size and operational characteristics of the Cottontree Field. Completing this confirmation well and making pipeline connections will provide us with the information needed to fully estimate the magnitude of this discovery." The company expects construction on an eight-inch gathering pipeline system designed to serve these two wells will be completed by early November. Appropriately sized surface equipment will be installed, allowing the wells to feed directly into a nearby Columbia Gas Transmission high-pressure interstate pipeline. Columbia Natural Resources is the exploration and production unit of Columbia Energy Group and is one of the largest producers of natural gas and oil in the Appalachian Basin. Headquartered in Charleston, W.Va., CNR has holdings that include the equivalent of 860 billion cubic feet of gas reserves, produced from 8,000 wells and more than 5,400 miles of natural gas gathering pipelines. The company is in the midst of an aggressive growth program that includes drilling 230 wells in 1999 and improving pipeline capacity. Also during 1999, CNR completed acquisitions of 800 wells and reserves in Kentucky and New York, and the company's Canadian production affiliate acquired additional properties and established two joint ventures in the Canadian Maritimes. Columbia Energy Group, based in Herndon, Va., is one of the nation's leading energy services companies, with assets of approximately $7 billion. Its operating companies engage in all phases of the natural gas business, including exploration and production, transmission, storage and distribution, as well as retail energy marketing, propane and petroleum product sales, and electric power generation. Information about Columbia Energy Group (NYSE:CG) is available on the Internet at columbiaenergygroup.com. Taff