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

To: russet who wrote (16)	11/19/1999 12:44:00 AM
From: burner	Respond to of 95

Why? This is a personal issue complicated with family distress. It should be left out of ORL picture. To bring it in is a disservice to the Werbes' and to Olympic.

To: russet who wrote (16)	11/20/1999 6:40:00 PM
From: burner	Read Replies (1) \| Respond to of 95

Olympic sells interest in Semitropic syndicate Olympic Resources Ltd ORL Shares issued 10,654,378 Nov 19 close $0.32 Fri 19 Nov 99 News Release Mr. Daryl Pollock reports Olympic Resources has sold a 12.5-per-cent interest in the Semitropic syndicate to Sur American Gold Corporation for $145,000 (U.S.). The Semitropic syndicate holds a 100-per-cent working interest (75-per-cent net revenue interest) in 4,500 acres of oil and gas leased lands located in Kern county, Calif. The company continues to retain a 25-per-cent working interest in the syndicate and is the project manager. Mr. Pollock also reports The Semitropic syndicate consists of the following consortium of companies of which Olympic is the syndicate manager: Olympic Resources (Arizona) Ltd. VSE: ORL Working interest (WI): 25% Net revenue interest (NRI): 18.75% Dasher Energy Corp. VSE: DHR WI: 25% NRI: 18.75% Sur American Gold Corporation VSE: SUR WI: 12.5% NRI: 9.375% Goldwater Resources Ltd. VSE: GWR WI: 10% NRI: 7.5% Clifton Star Resources Inc. VSE: CFO WI: 7.5% NRI: 5.625% Herriman Oil & Gas Inc. PRIVATE WI: 5% NRI: 3.75% ITL Capital Corp. VSE: ICL WI: 5% NRI: 3.75% Braiden Resources Ltd. VSE: BZR WI: 5% NRI: 3.75% Rocraven Resources Ltd. VSE: RVR WI: 5% NRI: 3.75% The Semitropic syndicate has signed a joint operating agreement with Production Specialties Company, Bakersfield, Calif. Preparation work has now commenced to drill its first shallow target to a depth of 4,100 feet in the Mya sands. The planned spud date is Nov. 24, 1999. The Semitropic syndicate holds a 100-per-cent working interest (75-per-cent net revenue interest) in 4,500 acres of oil and gas leased lands in Kern county, Calif. this represents one of the largest contiguous blocks of land in the San Joaquin Valley near the Lost Hills play. The participants are also developing plans to drill a test well to the approximate depth of 18,500 feet to test the subthrust fault play for Middle to Lower Miocene targets in the area. The Temblor is the focus of tremendous interest in the oil and gas industry since the blowout of East Lost Hills Bellevue No. 1 in late November, 1998. The recent activity at Cal canal suggests that most, if not all, structures in the deeper part of the basin are filled with hydrocarbons. The syndicate property lies 4.5 miles east of the East Lost Hills well over a portion of a deep-seated structure called the Buttonwillow fault, a major geological feature readily apparent on the seismic data. The syndicate has acquired an extensive seismic and geological database over its lands and adjoining acreage that indicate potential hydrocarbon traps in sands in the Temblor formation. A separate syndicate described at the Ekho project recently announced that site preparation has begun for the first well of its deep oil and gas exploration play. The Ekho project's chosen location lies approximately three miles southeast of the Semitropic syndicate lands in a trap very similar to that found on the Semitropic prospect along the same geological trend. WARNING: The company relies upon litigation protection for "forward-looking" statements. Mr. Darryl Pollock of Olympic Resources reports The Semitropic syndicate consists of the following consortium of companies of which Olympic is the syndicate manager: Olympic Resources (Arizona) Ltd. VSE: ORL Working interest (WI): 25% Net revenue interest (NRI): 18.75% Dasher Energy Corp. VSE: DHR WI: 25% NRI: 18.75% Sur American Gold Corporation VSE: SUR WI: 12.5% NRI: 9.375% Goldwater Resources Ltd. VSE: GWR WI: 10% NRI: 7.5% Clifton Star Resources Inc. VSE: CFO WI: 7.5% NRI: 5.625% Herriman Oil & Gas Inc. PRIVATE WI: 5% NRI: 3.75% ITL Capital Corp. VSE: ICL WI: 5% NRI: 3.75% Braiden Resources Ltd. VSE: BZR WI: 5% NRI: 3.75% Rocraven Resources Ltd. VSE: RVR WI: 5% NRI: 3.75% The Semitropic syndicate has signed a joint operating agreement with Production Specialties Company, Bakersfield, Calif. Preparation work has now commenced to drill its first shallow target to a depth of 4,100 feet in the Mya sands. The planned spud date is Nov. 24, 1999. The Semitropic syndicate holds a 100-per-cent working interest (75-per-cent net revenue interest) in 4,500 acres of oil and gas leased lands in Kern county, Calif. this represents one of the largest contiguous blocks of land in the San Joaquin Valley near the Lost Hills play. The participants are also developing plans to drill a test well to the approximate depth of 18,500 feet to test the subthrust fault play for Middle to Lower Miocene targets in the area. The Temblor is the focus of tremendous interest in the oil and gas industry since the blowout of East Lost Hills Bellevue No. 1 in late November, 1998. The recent activity at Cal canal suggests that most, if not all, structures in the deeper part of the basin are filled with hydrocarbons. The syndicate property lies 4.5 miles east of the East Lost Hills well over a portion of a deep-seated structure called the Buttonwillow fault, a major geological feature readily apparent on the seismic data. The syndicate has acquired an extensive seismic and geological database over its lands and adjoining acreage that indicate potential hydrocarbon traps in sands in the Temblor formation. A separate syndicate described at the Ekho project recently announced that site preparation has begun for the first well of its deep oil and gas exploration play. The Ekho project's chosen location lies approximately three miles southeast of the Semitropic syndicate lands in a trap very similar to that found on the Semitropic prospect along the same geological trend. WARNING: The company relies upon litigation protection for "forward-looking" statements. -------------------------------------------------------- Russet--Didn't mean to be belligerent with my reply to your post. I just hate to see media opportunists at work. That whole situation was very sad and I hope for the best outcome to those whom must intimately deal with it. Dan