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Gold/Mining/Energy : Tusk Energy (TKE) -- Ignore unavailable to you. Want to Upgrade?

To: TANTRAMAR who wrote (1188)	12/21/1999 9:46:00 PM
From: kingfisher	Respond to of 1207

Ed Beaman purchased 4000 shares in February 99 at $1.13 and 11,000 shares at .90 August 20. Some insiders have participated in recent financings but have not purchased any stock in open market. Noticed today that Tusk little sister company Loon Energy jumped briefly to .24 cents before closing at .19 cents. They have several projects on the go at the moment but perhaps that heavy oil prospect at Epping and Silverdale looks promising based on first well. In that general area wells have initial production rates of 30 to 100 BOPD, with about 40 BOPD average.A half section of reserves could support at least 5-10 wells.With a conservative netbacks of about $10/bbl at todays prices, a 5 well pool and a 50% interest for LOON cash flow would therefore be around $350,000. Also news on further drilling at Strachan is expected by year end. Best Regards from Ontario, Richard

To: TANTRAMAR who wrote (1188)	1/12/2000 11:19:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 1207

I have some news to report on Tusk. Between the Meekwap infill well,Carvel and Epping Silverdale Tusk will add about 100 boe production by months end. They are currently flowing in excess of $5 million cash flow annualized. My stock watch information is wrong.Tusk have started buying back shares. By early February Tusk will spud at Dawson/Noel.The offsetting well to this 2.5 section property has produced over 1 million barrels and still produces at more than 500 bopd.They have the 3-D seismic and have recently increased their interest to 50%.Tusk will operate this prospect. Still no decision on Strachan. The shallow rights are controlled by Petro Canada.This explains why the shallow well to tap into the sweet gas has yet to be drilled. No news on North East B.C prospect except that Veteran Resources stock is trading much better than Tusk! Also faith in Strachan continues considering the market valuation assigned to First Star as compared to Tusk. Hope to see better days ahead. Richard