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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (57222)	12/21/1999 1:48:00 PM
From: Gameboy	Respond to of 95453

Moneybags VPI whips the dough to get the flow: biz.yahoo.com excerpts: for $18 million in cash ... Through this purchase, Vintage acquired an additional 35 percent working interest in Block 14 raising its interest to 75 percent; an additional 40 percent interest in Block 17 increasing Vintage's interest in the block to 70 percent; and an additional 47 percent interest in Shiripuno, raising its interest to 100 percent. As a result, the company's production in Ecuador is expected to increase 87 percent from 1,925 barrels of oil per day to 3,600 barrels of oil per day. This acquisition is in keeping with the company's expectation that, over the intermediate term, a major expansion will occur in the TransEcuadorian pipeline system allowing Vintage to potentially increase exploitation and exploration activities significantly. This is a 1700 barrels/day production increase for $18 million. At $20/barrel, 1700 barrels/day translates into a gross return of $12,410,00/year.