Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Pallaum Minerals (ASE:PLM) -- Ignore unavailable to you. Want to Upgrade?

To: J. Kittle who wrote (526)	1/26/2000 8:50:00 PM
From: MrsNose	Respond to of 536

No idea! I haven't been following it either, but noticed earlier this evening that it was up .07 today. Then I pulled up a chart and started scratching my head. No news to be found recently, I checked at Carlson. But volume is up, and price is way up from earlier this month. Here's the latest from their website; note the drilling date on the St. Martinville field property. Should have started Jan 15th, and the North Barataria Prospect is to start drilling sometime in March. The properties that are under contract are in Louisiana and are summarized as follows: A. North Barataria Prospect Location: Jefferson Parish, Louisiana, USA 310 acres Operator: Euro Asia Capital Management Interest: 20% W1 Objective: Three-well development oil production only. Production from 6,500-foot, 6,600-foot and 7,300-foot sands. Well to be drilled to 7,800 feet to test the projected 7,800-foot sand. Reserves: P90 to P10 range 147.5 BO-737.3 BO Flow rate 400 barrels/day Expenditures: 3 wells Exploration well US$625,000 Development US$658,000 Pallaum initial share US$150,000 Operating Costs $5,000/well/month Anticipated Drill Date: March 2000 B. St. Martinville Field Location: St. Martin Parish, Louisiana, USA 282 acres on south flank of St. Martinville Field Operator: Apache Corporation Interest: 15% Objective: Initial exploration drilling is Ssmedes Sand. Secondary objectives include the 4,600-foot, 4,900-foot, Shoal River, G-2 and H-2 Sands. The planned well is an updip offset to the Smedes #17 well which produced 96 MBO and 43 MMCFG and good oil shows from sidewall cores in several additional potential reservoir sands. Reserves: P90-P10 range 80 MBO-840 MBO Mean 400 MBO Projected flow rate 400 barrels/day Expenditures: Exploration well US$250,000 Completion well US$450,000 Pallaum initial contribution US$87,500 Drill Date: January 15, 2000 Operating Costs: $1,000 per month per well I guess we better be careful, or we'll make the Hot Subjects list. Thread hasn't seen this much posting in a year.

To: J. Kittle who wrote (526)	1/26/2000 9:16:00 PM
From: MrsNose	Read Replies (1) \| Respond to of 536

Look...I found a news release on their site...wasn't any where else that I looked. Tuesday, January 25, 2000 #23 Smedes Well Drilling Update PALLAUM MINERALS LTD ("PLM-V") APACHE CORP ("APA-BHDNPQX") - #23 Smedes Well Drilling Update Stanley R. Ford, President of Pallaum Minerals Ltd. announces that Apache Corporation, Operator has advised the drilling operation of the #23 Smedes well in St Martinville Parish, Louisiana is proceeding in schedule. The drilling operations, which includes the drill set up, the drilling of a water supply and the drilling and cementing of the first 123 feet of casing, has been completed. The drilling contractor is scheduled to reach the contracted depth of 5,800 feet by the 26th week-end. Pallaum will continue to advise the results of the drilling operations as they become available. Pallaum has a 15% interest and Trans Asia Resources has a 25% interest in the well. The Company has granted a 100,000 stock option to an individual for a two year period at an exercise price of $0.25 per share. The granting of the stock option is subject to the approval of regulatory authorities. TEL: (604) 687-6257 Pallaum Minerals Ltd. FAX: (604) 687-0384 Stanley R. Ford, CEO & President INET : pallaum.com EMAIL: info@pallaum.com