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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE -- Ignore unavailable to you. Want to Upgrade?

To: The Bolter who wrote (784)	5/11/2000 9:05:00 AM
From: Yarek Szolomicki	Read Replies (1) \| Respond to of 864

Bolter, don't mean to point fingers but I think you are missing the potential of the oil that can be recovered with the thermal recovery program. If the current pilot is successful the stock is worth $10.00/share in my humble opinion. In the meantime we have another well. Anything under a 1.00 right now is a steal. Scimitar Hydrocarbons Corporation - Production Results of Well No. 13 - Issaran Field, Egypt CALGARY, Alberta, Canada--(BUSINESS WIRE)--May 11, 2000--Mr. Angus A. Mackenzie, Chairman of the Board of Directors and Chief Executive Officer of Scimitar Hydrocarbons is pleased to announce the completion of Issaran Well no. 13, the fourth well of the current ongoing development drilling program in the Issaran Field, Egypt. The well was drilled to a total depth of 2,185 ft. on April 17, 2000 and encountered 250 ft. of net pay in the Nukhul and Gharandal formations. The well was placed on production on May 4, 2000 and has averaged over 600 BOPD. With the May 9, 2000 production rate at 715 BOPD, the Issaran Well no. 13 is a significant producer for Scimitar. Scimitar's production from the Issaran oilfield on May 9, 2000 was 1,650 BOPD. Scimitar plans to drill the Issaran Well no. 14, the fifth well of its development program, by the end of May 2000. This well will be located 200 m from the Issaran no. 10 and no. 12 wells and on trend with the Issaran Well no. 13. Scimitar has the exclusive right to develop and produce heavy oil from its 100% interest in the Issaran oilfield comprising an area of approximately 75 square kilometers. THE CANADIAN VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. Contact: Scimitar Angus A. Mackenzie, or Ms. M. Dalgado, 1-800-933-8855 or 403/5433-0333 scimitar.ab.ca