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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE) -- Ignore unavailable to you. Want to Upgrade?

To: GC who wrote (214)	6/12/2000 3:43:00 PM
From: Leigh McBain	Respond to of 242

From the arrival of the truck until they can start flow testing should be in the 48 hour range, possibly 72. Then we will be looking at approx. 1 week for the hookup and away we go. We are still a week or 2 from getting it done though, unless we get lucky and we can grab the truck for a day during it's existing contract. It appears it will be well worth the wait though, from what I understand the in-well pressure is very good. Salut, Leigh McBain

To: GC who wrote (214)	6/15/2000 3:06:00 PM
From: Leigh McBain	Respond to of 242

Just a little math: The company holds a 50% interest in this well, neighboring wells have been coming in at between 7 and 12 mcfpd after frac. If we see 10mcfpd (post frac) * $4.00 per 1,000 cf that would equate to $40,000 USD per day * 50% = $20,000 USD per day * 30 days = $600,000 USD per month * 12 = 7,200,000 per year in gross revenue from just the one well * 1.5(approx. CDN conversion) = $10,800,000. With approx 31.5 million shares out that is about .34 per share in gross revenue, we are being told that other production is covering the business's operating expenses, so that means that this one well has the potential to add .34 per share in NET PROFIT, with even a P/E ratio of 5 that would equate to $1.70 per share in stock price. The project has the potential to deliver another 4-5 wells and 2 of those may be going after a pinnacle reef formation which has the potential to be even bigger. This tells me that with a solid hit on this well, there is NO reason to expect the post news drop we have seen in the past. Keep in mind that although the company has had some successes, they have nothing of this magnitude and nothing that has significantly outstripped expectations. Just my perspective on things. Salut, Leigh McBain

To: GC who wrote (214)	6/19/2000 7:50:00 PM
From: Leigh McBain	Read Replies (1) \| Respond to of 242

Just FYI, re: Delinquent filing notice COMMONWEALTH ENERGY CORP. June 19, 2000 Trading Symbol: CWY (CDNX) MEDIA RELEASE Commonwealth Fully Compliant? Commonwealth Energy Corp. ("Commonwealth" or "the Company") has addressed this morning's BC Securities notice stating that Commonwealth made an incomplete filing. The Company's 1999 year-end audited Financial Statements were filed to SEDAR on time. However, an electronic error occurred when the Confirmation of Mailing document that is required to be attached to the Financial Statements filing was sent through to SEDAR. This was not reported to Commonwealth by the Company handling Commonwealth's SEDAR filings. The Confirmation of Mailing of the year-end Financial Statements was refiled to SEDAR today and the company is now fully compliant. Commonwealth has been given the approval of the BC Securities Commission to issue this release that the Company is now up to date with all Regulatory Filings. For more information, please contact Doug Wolters or Robert Stewart at 1-800-950-2587 or visit the company web-site at www.commonwealthenergy.com. THE CANADIAN VENTURE EXCHANGE (CDNX) HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

To: GC who wrote (214)	7/5/2000 1:12:52 PM
From: Leigh McBain	Read Replies (1) \| Respond to of 242

Just to clear things up a bit, this is a release put out by the exchange that really just ratifies the deal that was originally announced back in December, hence the .20 price tag. The deal is a small position in approx. 300 producing wells, small interest in each but good longevity. Keep in mind that the deal was done when the price of gas was much lower also, so the apparent "deal" that Bob Stewart got on the share price is off-set significantly by that. There are advantages to a large number of wells, in that as a few die off as will always happen they are just a small piece of the overall production and do not radically affect things, this should add nicely to the company's revenue stream. Re: the frac truck - no real news, just that we are still head of the line for a truck as soon as one is freed up. That should be soon, BUT??? Salut, Leigh McBain