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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Check who wrote (10232)	4/11/2000 10:25:00 PM
From: Check	Read Replies (1) \| Respond to of 15703

Gad, these Australians 'r cute. It's all you chatline guys' fault! <gg> ---------------------------------------------------------- Xenolith Gold Limited 4/11/00 - Response To ASX Query Re: Share Price HOMEX - Sydney ------------------------- Response to ASX Query re: Share Price RESPONSE TO ASX QUERY Further to your facsimile transmission dated 11 April 2000, we hereby advise that the company endeavours, at all times, to keep the market fully informed with regard to relevant information. In direct response to your correspondence we advise as follows; * There are no matters of importance that have not been announced. * We are not aware of any specific information, not released to the market that may be responsible for recent trading in the company's securities. * The factors we believe may have generated interest in the company are; a) Although no official announcements have been issued, one of the partners in the East Lost Hills project publicly stated on 10 April that the Berkley #1 well was at a depth of 19,724 feet and a suite of logs had been successfully run. The partner also stated that its management expects the results to be positive. b) As of today's date Xenolith's management is not privy to any data generated by the logs, and yet, speculation is already rife on the North American chat lines that focus on the East Lost Hills play. Rumors, including net pay footage and porosity; together with reserve estimates ranging from 0.5 trillion cubic feet to 3 trillion cubic feet are fodder for chat line discussion and analysis. The relevance of these hypothetical numbers, and the interest they generate, is understandable when a rule of thumb, in-ground, value for 1 trillion cubic feet of gas is one billion dollars. * We confirm that Xenolith is in compliance with ASX listing rules and, in particular, listing rule 3.1. Should you require further assistance please do not hesitate to contact the undersigned. G D Robinson DIRECTOR ASX QUERY We have noted a change in the price of the Company's securities from $0.22 on 06/04/2000 to $0.44 today. We have also noted an increase in the volume of trading in the securities over this period. In light of the price change and increase in volume, please respond to each of the following questions. 1. Is the Company aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company. 2. If the answer to question 1 is yes, can an announcement be made immediately. If not, why not and when is it expected that an announcement will be made. Please note, if the answer to question 1 is yes and an announcement cannot be made immediately, you need to contact us to discuss this and you need to consider a trading halt (see below). 3. Is there any other explanation that the Company may have for the price change and increase in volume in the securities of the Company? 4. Please confirm that the Company is in compliance with the listing rules and, in particular, listing rule 3.1. Your response should be sent to me on facsimile number (02) 9241 7620. It should not be sent to the Company Announcements Office. Unless the information is required immediately under listing rule 3.1, a response is requested as soon as possible and, in any event, not later than half an hour before the start of trading (ie before 9.30am EST) on Tuesday 12/04/2000. The response must be in a form suitable for release to the market. If you have any concern about release of a response, please contact me immediately. LISTING RULE 3.1 Listing rule 3.1 requires an entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity's securities. The exceptions to this requirement are set out in the rule. In responding to this letter you should consult listing rule 3.1 and the guidance note titled "Continuous Disclosure: Listing Rule 3.1". If the information requested by this letter is information required to be given to ASX under listing rule 3.1 your obligation is to disclose the information immediately. Your responsibility under listing rule 3.1 is not confined to, or necessarily satisfied by, answering the questions set out in this letter. TRADING HALT If you are unable to respond by the time requested, or if the answer to question 1 is yes and an announcement cannot be made immediately, you should consider a request for a trading halt in the Company's securities. As set out in listing rule 17.1 and the guidance note titled "Trading Halts" we may grant a trading halt at your request. We may require the request to be in writing. We are not required to act on your request. You must tell us each of the following. * The reasons for the trading halt. * How long you want the trading halt to last. * The event you expect to happen that will end the trading halt. * That you are not aware of any reason why the trading halt should not be granted. * Any other information necessary to inform the market about the trading halt, or that we ask for. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. If a trading halt is requested and granted and you are still unable to reply to this letter before the commencement of trading, suspension from quotation would normally be imposed by us from the commencement of trading if not previously requested by you. The same applies if you have requested a trading halt because you are unable to release information to the market, and are still unable to do so before the commencement of trading. If you have any queries regarding any of the above, please contact me on (02) 9227 0892. P Hart SENIOR LISTINGS OFFICER