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Gold/Mining/Energy : 25,740' WINFIELD RANCH JV PARTNERS -- Ignore unavailable to you. Want to Upgrade?

To: LowtherAcademy who wrote (1317)	5/29/2001 6:48:43 PM
From: Flea	Read Replies (1) \| Respond to of 1326

T & H Resources' Winfield well being redrilled T & H Resources Ltd THE Shares issued 35,169,292 2001-05-28 close $0.14 Tuesday May 29 2001 News Release Mr. John Pollock reports Weatherford International Inc., acting as operator of the Winfield Ranch No. 17 1E well in Pecos county Texas, has successfully kicked off the original well and is currently, as of yesterday morning, drilling ahead at approximately 25,343 feet. In the original well, while the previous operator was attempting to run production casing, a rental drilling string supplied by Weatherford parted and parted again while trying to recover lost drilling pipe. Attempts at receiving compensation from Weatherford were unsuccessful which led to the present lawsuit in which T & H is involved. In order to mitigate damages Weatherford has re-entered the well bore and is attempting to redrill the lower part of the hole and run production casing. The Ellenburger was encountered at approximately 24,800 feet. Good drilling breaks, gas shows on the gas detector and extremely heavily gas cut mud which gave a 15- to 40-foot gas flare from the mud degasser all suggest a gas saturated reservoir is present. The penetration rate varies from zero to 73 feet per day so it is difficult to predict a time to reach total depth. The new well bore appears to confirm that a major gas accumulation may have been discovered. A new completion will be attempted after all relevant information from the operator has been received and evaluated. If successful a major gas pipeline runs through the property so the well can be tied in to market immediately. T & H has a 22.29-per-cent before payout working interest in the Winfield Ranch No. 17 1E well. (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com