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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (7576)	9/12/2000 3:28:20 PM
From: Goldberry	Respond to of 24910

Thanks for your comments Richard. Do you have any thoughts on SNG - Canadian Superior formerly Prize Energy. I figure Greg Noval has something to prove as he is credited with putting Canadian 88 in a bind. With no debt and little hedging also weighted to gas I think if prices hold this stock should do better than most.

To: Richard Saunders who wrote (7576)	9/14/2000 11:55:19 AM
From: CIMA	Read Replies (1) \| Respond to of 24910

Calgary-based (field office)DIGG in the news: (PR NEWSWIRE) Digital Gas Agrees to Sign Three Contracts With Dong Sheng Corp NEW YORK, Sept. 14 /PRNewswire/ -- Digital Gas, Inc. (DIGG - Pink Sheets) today announced that it has agreed to sign three oil & gas contracts with Dong Sheng Corporation ("DSC") of Dongying, Shandong Province, Peoples Republic of China. The contracts will be for engineering, education and production sharing respectively. Dong Sheng produces 4 million barrels of oil per year from 540 wells in 15 fields. The agreement dated today states that "The partnership objectives are to improve oil & gas production and field recoveries in all of DSC's fields and to develop new fields with the best technologies available both domestic within China and in the International market." The contract for engineering involves the submission of engineering action plans for each field and work, such as Digital has agreed to immediately conduct on several properties of Dong Sheng, including: the design and implementation of fracturing programs to improve the stimulation of existing wells; sourcing the correct pumps to handle sand and low production rates; dealing with wax problems under Digital's quality control systems and, finally, to work with Dong Sheng on water treatment solutions. The contract for education involves training Dong Sheng personnel in the classroom and at the wellsite. The primary focus of Digital is to build and train cross-functional teams, with the goal of maximizing the exploitation and recovery of hydrocarbons. The contract for production sharing allows Digital to earn a significant percentage of the total production of each field for little or no direct investment. With respect to the production sharing agreement, Mr. W. Brian Lunan, a Director of Digital, said that "before signing the agreement, we conducted our technical audit on one key Dong Sheng field using our proprietary Stage Gate Process and the field passed our test with flying colors." "The principals and personnel of Dong Sheng, as well as their highly prospective 15 fields, are the best we have seen in China to date," added Mr. Lunan. A fourth contract for reservoir enhancement is on the table, but will only be considered after Digital has fully improved the production from DSC's 540 wells under the production sharing agreement. In these fields, reservoir enhancement would take place at depths in excess of the current limit of 3,000 meters and would entail greater risks and rewards. This delay in deep drilling allows Digital to build significant cash flows relatively risk and cost free. The contract signings are scheduled for the week of October l6th at which time Digital Gas will turn over the detailed engineering plans for the initial target fields. Digital Gas is prepared to go to contract on the same basis with any qualified company in Asia with highly prospective properties in need of Digital's state-of-the-art enhancement technologies. SOURCE Digital Gas, Inc. -0- 09/14/2000 /CONTACT: Leo Murray of PR Associates, 212-856-4496, for Digital Gas, Inc./ (DIGG) CO: Digital Gas, Inc. ST: New York, China IN: UTI OIL SU: CON * end of story *