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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (7044)	1/18/2000 12:21:00 PM
From: Cal Gary	Read Replies (1) \| Respond to of 24921

Chevron and partners test Fort Liard M-25 gas well Purcell Energy Ltd PEL Shares issued 22,800,000 Jan 17 close $3.75 Tue 18 Jan 2000 News Release Also Talisman Energy Inc (TLM) Also Numac Energy Inc (NMC) Also Canadian Natural Resources Limited (CNQ) Also Ranger Oil Ltd (RGO) Also Paramount Resources Ltd (POU) Also Berkley Petroleum Corp (BKP) Mr. Charlie Stewart of Chevron reports Chevron Canada Resources and partners have completed the production test on Chevron's Fort Liard natural gas well (M-25), about 18 kilometres northwest of Fort Liard, NWT. M-25 is Chevron's second well drilled in the area following successful results of its K-29 well drilled in the spring of 1999. The M-25 well, drilled to a total depth of 3,770 metres, tested natural gas in the Nahanni zone at a restricted flow rate through a 3.5-inch tubing string of 28 million cubic feet per day (760 E3m3/d) at the end of a four-day test period. Based on the test data, the expected producing rate from this well is estimated to be 50 million to 75 million cubic feet of raw gas per day. Over the next several weeks, Chevron will further evaluate the well to determine the most commercially optimal producing rate. M-25 is estimated to be on production sometime in the fourth quarter of 2000. The well was drilled 30 days ahead of schedule and cost approximately $9-million, 10 per cent under budget. Over the next three months, Chevron and partners will construct a 32-kilometre pipeline and associated well site facilities to bring its natural gas discovery at its K-29 location to market by May, 2000. The producing rate of K-29 is expected to be approximately 75 million cubic feet per day. The pipeline will bring this natural gas to an existing pipeline at Pointed Mountain, NWT, and onto processing facilities at Ft. Nelson, B.C., where it will enter the main sales gas system. Interests in the M-25 and K29 well include Chevron, as operator -- 43.4318 per cent; Purcell Energy Ltd. -- 24 per cent; Berkley Petroleum Corp. -- 21 per cent; Anderson Resources -- 4.1 per cent; Paramount Resources Ltd. -- 2.7602 per cent; Ranger Oil Limited -- 1.197 per cent; Canadian Natural Resources Inc. -- 0.90736 per cent; Numac Energy Inc. -- 0.82 per cent; AEC West Ltd. -- 0.336 per cent; Talisman Energy Inc. -- 0.21 per cent and other interest holders at 1.23764 per cent. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com

To: SofaSpud who wrote (7044)	1/23/2000 9:01:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 24921

Hope that it's -40 windchill in New York and Toronto Monday and the rest of the week. Perhaps the cold will help some of those Wall St and Bay St money managers remember that there is an oil and gas sector and it is historically undervalued and perhaps they should take their 1000% profits in those .com companies and put it into hard real assets that are still important to this economy. Also I hope the managers of these undervalued producers start thinking of merging and consolidating to help create some shareholder value.Because high energy prices are not doing it.