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

To: SliderOnTheBlack who wrote (59911)	2/7/2000 8:33:00 PM
From: Winkman777	Respond to of 95453

HO-hum, more Apache discoveries. Apache Announces Two Discoveries in Egypt February 7, 2000 03:45 PM HOUSTON, Feb. 7 /PRNewswire/ -- Apache Corporation APA today announced two significant new discoveries in Egypt on its West Mediterranean and East Bahariya concessions. The Akik-1X test-flowed 23.4 million cubic feet of gas and 1,685 barrels of condensate per day on a 48/64-inch choke with 2,275 pounds per square inch of flowing wellhead pressure. Perforations were between 8,112 feet and 8,160 feet in the upper Alamein Dolomite formation. Apache intends to resume drilling to a total depth of 10,600 feet and will test several zones in the Alam el Bueib formation, which has excellent reservoir quality in Egypt's Western Desert. The discovery is on the three-million-acre West Mediterranean Concession, which Apache operates with a two-thirds working interest. Repsol owns the remaining one-third contractor interest. The Akik prospect was identified from a 116-square-mile 3-D seismic survey acquired following Apache's 1998 North Alamein discovery. Mapping based on that survey indicates that the Akik structure is a high-relief, four-way-dip closure at the reservoir horizon. The Akik is more than 1,000 feet high to a downdip, fault-separated well that produced oil at non-commercial rates from the same formation. It is the first of seven onshore exploration and appraisal wells planned for the concession this year. Another 3-D seismic survey comprising 270 square miles acquired in the offshore portion of the West Mediterranean Concession is expected to confirm a half-dozen prospects and leads in shallow water. Apache expects to drill at least one offshore well on the concession this year. The Karama-1X, potentially the first commercial discovery on Apache's 1.4-million-acre East Bahariya Concession, flowed 1,520 barrels per day of 43-degree API crude oil and 500 thousand cubic feet of gas per day. The test was conducted on a one-inch choke from perforations between 7,552 feet and 7,570 feet in the Abu Roash formation. Apache holds a 50 percent working interest in the discovery. Repsol, the operator, holds the remaining 50 percent. The partners have acquired 940 miles of 2-D seismic and have reprocessed another 2,170 miles of 2-D seismic on the concession. They may apply for early production, as an existing pipeline is located within six miles of the Karama discovery. At least two additional wells are planned on the concession this year. Apache Corporation is a leading oil and gas independent with operations in the United States, Western Canada, Egypt, West Australia, Poland and the People's Republic of China. Its common shares are traded on the New York and Chicago stock exchanges. SOURCE Apache Corporation

To: SliderOnTheBlack who wrote (59911)	2/7/2000 8:39:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Slider XTO reported Thurs... siliconinvestor.com Zacks has it as .24 vs est of .21. Complicated by all the writeoffs and "equity investing". Simpson needs to stick to bidness. biz.yahoo.com John