To: SSP who wrote (52551 ) 6/27/2000 10:03:00 AM From: Link Lady Read Replies (1) | Respond to of 150070
Hi SSP I see EDIS made groovers list yesterday. Did a full search at SI. Hoping the market gets good news tomorrow regarding interest rates. Talk to you later Wendy News release today.siliconinvestor.com Earth Search Sciences Ready to Sell Gas From Louisiana Exploration Well NEW YORK, Jun 27, 2000 (BUSINESS WIRE) -- Earth Search Sciences Inc. (OTC BB: EDIS chart, msgs) Tuesday reported that its first exploration well in Southern Louisiana was connected to in-place production facilities last Friday and it is ready to sell gas. Extensive tests conducted over recent weeks by ESSI's new subsidiary, Petro Probe Inc. revealed flows of from 2.8 to 4.0 billion cubic feet of gas per day, and management believes this 15,200-foot well, when fully developed, should produce more than 10 mcf per day, equivalent at today's gas prices, to a cash flow of about $1.3 million per month. This prospect was first identified by Tolar Energy Inc. which, along with International Petroleum, LLC, is a participant in the project. Tolar's sub-surface well data was later confirmed with 3-D Seismic at which point ESSI was contacted to dispatch its aircraft and Probe 1 hyperspectral aerial surveying and image processing system to the site near Lafayette. Ten lines were collected over this prolific Bol Mex trend. In the plowed fields which overlay the prospect, the collected data exhibited an anomalous reflective area which is approximately the same configuration as the underlying prospective gas limit identified by the 3-D Seismic before the area was flown and imaged by ESSI. Based on all this information, ESSI/Petro Probe exercised its option to acquire a five percent of 8/8th working interest in this well, associated leases and a Hunt Oil Company Farmout. "Most importantly," said Larry Vance, president and chief executive officer of ESSI, "this success confirms the value of our technology in oil and gas exploration programs, saving time and expense in the process." Note: Any statements contained in this release that are not statements of fact may be considered "forward-looking statements", as that term is defined under Federal security laws. Forward-looking statements are subject to risks, uncertainties and other factors, including, but not limited to, those described in ESSI's filings with the Securities and Exchange Commission. Such forward-looking statements are only predictions and may differ materially from actual future events or results.