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Gold/Mining/Energy : Olympic Resources ORL:VSE -- Ignore unavailable to you. Want to Upgrade?

To: knight who wrote (11)	11/16/1999 8:02:00 PM
From: burner	Respond to of 95

Deep Well NEWS Release: Olympic finally released some news today. After reading this I phoned the field operations Mgr.. in Calgary and got a tad more information on this announcement. This will be an "exploratory" well and is located 1/4 mile from a 40 Million Cu. Ft. per day (40 mmcf/day) producing well. The balance of this well is suspected to be up dip on the other side of the Del Barba Fault. If this comes in the company conservatively estimates potential production of 10 mmcf/day. Current gas prices would indicate a monthly net revenue for the company to be approximately $200,000 USD. This would be huge for the company. This company has $3,000,000 Cdn in the treasury and are the operator of the SEMITROPIC Syndicate (37%) holding over 4,500 net acres of contiguous land near the East Lost Hills area in California. They are involved in shallow well drilling and tie in but are watching what their neighbours are dong with the deep well drilling going on at the Cal Canal and the Bellevue. It looks as thought the company is close to getting a website up at orlresources.com --------------------------------------------------------------------------- Olympic to participate in California wildcat well Olympic Resources Ltd. Toll-Free 800 570-8733 ORL Shares issued 10,654,378 Nov 15 close $0.32 Tue 16 Nov 99 News Release Mr. Patrick Forseille reports The company has committed to participate in the drilling of an 8,200-foot wildcat test well in the South Oakley area of Northern California to test the third massive sands. Olympic will pay 50 per cent of the drilling costs to casing point and revert to a 37.5-per-cent working interest following. The total drilling cost to casing point is estimated to be $275,000, of which Olympic's share is $137,500 (U.S.). The well is expected to be spudded in January.

To: knight who wrote (11)	11/17/1999 10:03:00 PM
From: burner	Read Replies (1) \| Respond to of 95

Thanks for the Hilton link. I ran some numbers on this last deal ORL did: My figures are a bit suspect as I can't read my own hieroglyphics sometimes, but here goes. The area is called the South Oakley and the original discovery had intersected a 40' thicknes of 3rd massive sand(?). An adjoining well intersected 300' of the same. Using seismic and exploration reports the play is believed to run to the Olympic target. Now here are some of my numbers and keep in mind I am NO expert! Gas is approximately $3/mcf (thousand cu ft) or $3,000/mmcf(million cu ft) The company hopes for 10 (ten) mmcf per day of initial production that is approx $30,000 a day of which they split 50/50. Now there will be a royalty to pay and operating costs to bear but this does give one the idea that this can be extremely significant. These figures as opposed to the $137,500 drill costs present what I call attractive upside. I should run some of my calcs by someone in the company because if it is as good as I think it is we might end up being happy campers.

To: knight who wrote (11)	11/19/1999 11:40:00 AM
From: burner	Read Replies (1) \| Respond to of 95

I just received the new investors package yesterday. Includes 1999 Annual Report, news releases, Corporate Update-Oct 99, and a nice little brochure on the SEMITROPIC Syndicate. Here is just a bit from the packet: CORPORATE UPDATE working cap= $3,200,000 shares O/S = 10,700,000 Fully Diluted= 13,000,000 LONG TERM DEBT= Nil (Nada, Zilch,Zero!) Syndicate has 75% net revenue interest in one of the largest contiguous blocks of land In the San Joaquin Valley near the Lost Hills play. Olympic has 37.5% and is the syndicate manager. The participants are developing plans to drill a test well to approx depth of 18,500' In addition to deep play seismic data identified several shallower targets at depths around 4,000'. First of these targets will be tested with a well that is projected to commence drilling in November, 1999. SEMITROPIC BROCHURE -Gives a little of the history of the San Joaquin and the ELH blowout. -Explains the relative position of the properties, faults and geological horizons -discusses shallow potential ->30,000 producing wells in Kern County provide 62% of California's oil production and 9% of national output - a GREAT little map showing the Syndicate lands in relation to surrounding fields/wells -demographic info on all participants in the syndicate