Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : TYK (VSE) Tanganyika Oil -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (319)	11/14/2000 12:45:07 PM
From: Greywolf	Read Replies (1) \| Respond to of 500

Tanganyika Spuds Test Well In Tanzania VANCOUVER, BRITISH COLUMBIA--(TYK-CDNX) Tanganyika Oil Company Ltd. (the ``Company'') is pleased to announce that drilling operations commenced at the Mbate-1 location in southern Tanzania on November 12, 2000 (please see attached map). This exploratory well will test a broad, fault-bounded structure in the 1.25 million acre Mandawa Concession. Total depth of the well is projected at 8,000 feet with the Middle Jurassic sands being the primary hydrocarbon target. Upon completion of the Mbate-1 test, a second exploratory well, Mita Alpha-1 is scheduled to be drilled on a distinctively separate prospect 15 kilometers to the southeast. This drilling initiative is the result of extensive geotechnical studies and critical data garnered from Tanganyika's 1996/97 two-well drilling campaign and the 1999 seismic and geochemical surveys. This information proved conclusively the presence of light oil in the basin and the existence of thick reservoir quality Jurassic sand mounds or fans. The Mbate and Mita Alpha prospects have been interpreted as closed, fault-bounded structures of predominantly thick sand/shale sequence favourably positioned in proximity to strong oil shows recorded in Tanganyika's 1996 Mita Gamma-1 well. Tanganyika Oil Company Ltd., through its wholly owned subsidiary, Dublin International Petroleum (Tanzania) Limited has a 75% interest and will be the operator of the Tanzania drilling initiative. Energy Africa Tanzania Limited, holding a 25% interest, is a wholly owned subsidiary of Energy Africa Limited with corporate offices in Cape Town, South Africa. On behalf of the Board Edward L. Molnar, President

To: Tommaso who wrote (319)	11/24/2000 10:44:20 AM
From: Greywolf	Read Replies (1) \| Respond to of 500

Hana-7 Well in Production, Hana-8 Well Spudded VANCOUVER, BRITISH COLUMBIA--(TYK - CDNX) Tanganyika Oil Company Ltd. (the ``Company'') is pleased to announce that the Hana-7 well in Egypt has been successfully completed and placed on production. The well tested at approximately 1,500 barrels of oil per day (bopd). Average daily production from the Hana Field is now over 3,300 bopd. Hana-7, drilled as a development well, encountered 62 feet of net sand pay in the Kareem formation. An additional development well, Hana-8, has recently spudded and is expected to reach total depth of 4,900 feet in approximately 20 days. Both Hana-7 and Hana-8 constitute the initial phase of a multi-well development and pressure maintenance drilling program in the Hana Field and these initiatives are expected to substantially boost sustainable field production. Cumulative net oil production to date from the Hana Field exceeds 622,000 barrels. The Hana Field has been generating steady cash flow in excess of US$350,000 per month, net to Tanganyika. Cash flow is expected to significantly increase with the added production from Hana-7 and further development drilling. The processing and interpretation of 3D data from the 400 square kilometer seismic acquisition program is nearing completion. A multi-well exploration program will be conducted next year to evaluate several of the drilling prospects validated by this 3D program. Additional details of Tanganyika's activities can be found on our newly launched website at www.tanganyikaoil.com for additional details. Tanganyika Oil Company Ltd., through its wholly owned subsidiary, Dublin International Petroleum (Egypt) Limited, is the operator of the West Gharib Block, holding a 50% interest. Drucker Petroleum Inc., a wholly owned subsidiary of Drucker Industries Inc., holds a 20% interest and GHP Exploration (West Gharib) Ltd., a wholly owned subsidiary of TransAtlantic Petroleum Corp. holds the remaining 30% interest. On behalf of the Board Edward L. Molnar, President