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

To: Kerm Yerman who wrote (9564)	2/16/2003 1:44:47 PM
From: Bearcatbob	Respond to of 24925

OT: "On another note - how are the Bearcats doing." My Bearcats are almost as sad a story as Probe. If we had the proplayers that should be here things would be different. One of the Syracuse guys is said to be the alternate to LaBron James - I doubt he will stay. Incidentally, we attended a wedding in Syracuse this summer. It was based in the Hotel Syracuse - a grand old lady who needs a little redoing. None the less we had a great weekend there. Bob

To: Kerm Yerman who wrote (9564)	2/17/2003 7:42:11 PM
From: kingfisher	Respond to of 24925

KVL- Cavell hitting new highs! Following article may explain why. KVL has a huge land position in the Shackleton play. ........................................................... Gas-prone areas get best bids Bruce Johnstone Leader-Post Friday, February 14, 2003 ADVERTISEMENT Natural gas-prone areas continued to attract most of the attention -- and bonus bids -- in February's land sale, which garnered $16.4 million for provincial coffers. The February sale brought total land sale revenues for the 2002-03 fiscal year to about $110 million, more than double the amount received in the previous fiscal year. "In the 50 years of land sales, this is the sixth-highest (fiscal year total) on record,'' said Ed Dancsok, director of the geology and petroleum lands branch of Industry and Resources. Dancsok said natural gas remains the main target of oil and gas companies bidding for drilling rights, especially in the southwest and west-central areas of the province. Of the $16.4 million in bonus bid revenues, gas-prone areas attracted close to $10 million in bids, primarily in the Swift Current area, but increasingly in the Kindersley-Kerrobert area. Dancsok said the Shackleton natural gas play, which is said to have added half a trillion cubic feet of gas, or 20 per cent, to Saskatchewan reserves, is pushing out the boundaries of gas exploration in all directions. "We can see that the lands in February's sale are far from the original (Shackleton) discovery,'' said Dancsok. The Shackleton area, which is northeast of Swift Current, now extends as far east as Saskatchewan Landing, and north into the Kindersley-Kerrobert area. Similarly, the Wymark gas play, discovered by Renaissance Energy (now part of Husky Energy) in the 1990s, has now spread as far south as Cadillac and Val Marie, Dancsok said. "It's nice to see exploration outside of the traditional areas,'' he said. Perhaps the wildest of wildcat exploration is the $1.6-million "work commitment'' bid by General Resources Inc. for 86,000 hectares of "relatively unexplored area'' 40 km southeast of Saskatoon, nearly Hanley. The special exploration permit requires the company to spend $1.6 million in two years, including the drilling of at least one exploratory well. "We want them to put the money into the ground, rather than our pocket.'' Dancsok said a Saskatoon-based gold mining company did some exploration in the area in the late 1980s, but abandoned the effort. "In 1989, Claude Resources drilled some wells in the vicinity and had some oil showings. They attempted production, but were unsuccessful. They abandoned the wells and walked away.'' But Dancsok said exploration and production technology has improved since then, which could make some previously uneconomic discoveries worth reviving. "Since the late 1980s, we have better ways of drilling for oil and gas,'' he said, adding the area around Hanley could have potential for both oil and gas. The Swift Current area received the most bonus bid activity at $5.85 million, followed closely by the Kindersley-Kerrobert area at $5.35 million. The Lloydminster area was next at more than $3.55 million in bonus bids, with the Weyburn-Estevan area totaling $1.65 million in land sale revenues. © Copyright 2003 The Leader-Post (Regina)