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Microcap & Penny Stocks : The New Osprey Energy Limited -- Ignore unavailable to you. Want to Upgrade?

To: The Osprey who wrote (128)	11/25/1999 11:48:00 PM
From: LABMAN	Read Replies (1) \| Respond to of 183

NNM.AL NUVO into networks/wireless , no 1 trader on alberta today nuvo.com lm

To: The Osprey who wrote (128)	11/26/1999 1:11:00 PM
From: The Osprey	Read Replies (1) \| Respond to of 183

Osprey Energy Ltd - Brownstone acquires interest in Osprey Energy Osprey Energy Ltd OEL Shares issued 3,334,288 1999-11-24 close $0.41 Thursday Nov 25 1999 See Brownstone Resources Inc (BWNI) News Release Mr. Sheldon Inwentash reports Brownstone Resources has recently acquired a 9.3-per-cent equity interest in Osprey Energy Ltd., together with warrants to acquire a further 500,000 shares of Osprey. About Osprey Osprey Energy Ltd. (OEL) is a junior oil and gas company listed on the Vancouver Exchange. It currently generates revenue from working interests in three producing properties in Alberta. A fourth property in Alberta is presently undergoing a five-well drill program (four horizontal and one vertical) with a major industry partner. The first two wells were successfully completed on Nov. 5 and 22, with the final three wells scheduled to be completed and in production by the end of December. Additionally, in September, Osprey Energy agreed to acquire a 15-per-cent working interest in two fields in Louisiana, with a right of first refusal to acquire up to an additional 30 per cent in both fields. The Livingston field has two wells, drilled in 1997 by two major U.S. companies. One well is presently producing at 200 barrels per day with the second well producing at 100 bopd. Once the formation zones clean up, each well will be produced at 300 bopd. Recoverable reserves are estimated to be 1.25 million barrels of oil. The second Louisiana field, Bayou Choctaw field, has four wells being reworked in phase 1, with daily production rates estimated to be 150 bopd and 150 thousand cubic feet gas per day. Phase 2 consists of six wells being reworked with expected daily production of 300 bopd and one million cubic feet gas. Phase 1 wells are scheduled to come on stream early in the new year, with phase 2 by March 31. Recoverable reserves are estimated to be 1.7 million barrels of oil plus 2.30 billion cubic feet gas. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)