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Gold/Mining/Energy : The New Osprey Limited -- Ignore unavailable to you. Want to Upgrade?

To: The Osprey who wrote (94)	6/20/2001 6:18:04 PM
From: russet	Respond to of 338

36a still not on line,...but few small operators are getting their parts and projects on line quickly. The industry is going nuts. They still must complete the flowback before it goes into production,...so next quarter will give even higher revenues to give us our traditional quarterly spike in price. These folks below, trying to tie in their wells are having similar problems on the west coast,... Arlington working to bring CNU wells on stream Arlington Ventures Ltd AVM Shares issued 23,271,796 Jun 19 close $0.92 Wed 20 Jun 2001 News Release Mr. Timothy Collins reports Arlington Ventures is continuing its activities in the CNU project area (part of the Nahama project) and the Raisin City field, which are located in the northern San Joaquin basin of Southern California. At its CNU project area, the company recently completed the CNU No. 86-18 well and it is producing at a restricted rate of 100 barrels of oil per day (35 bopd net to the company's interest). Upon completion of a water disposal well and gas line hookup, the company expects its two CNU wells to produce at an approximate rate of 200 bopd and 200 thousand cubic feet per day (70 bopd and 70 thousand cubic feet per day net to the company's interest). Plans are to recomplete at least two additional wells in the CNU project area within the next few months. At its Raisin City field, the company is continuing to focus its efforts on producing gas from the field at each well's maximum efficient rate. The company has been experiencing numerous delays in obtaining field equipment and services which are required to resolve some of its operational difficulties (such as delays in obtaining field compressors and condensate/water liquid loading of existing gas wellbores). As a consequence of these problems, the daily production rate has varied considerably and has resulted in the gas wells at Raisin City not producing at their planned production rate. Unexpected fluctuations in line pressure in the PG&E transmission system require the immediate installation of gas compressors to flow the company's gas into the PG&E system. The company is also undertaking other remedial work to remove the liquids from the wellbores. During the next two weeks, the company plans on installing compression facilities and reperforating the Surfluh 9-13 and Surfluh F22-14 wells. Also, the company has scheduled completion work on the recently drilled Terranova 22X-29, Surfluh 64-14R and Ripperdan 55-13R wells. All three are new wells which have never been on production. The results of this work will be announced after it is completed and the production has stabilized. Subsequent to this, the company will continue its drilling program.