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

To: Michael Mc Donough who wrote (4206)	11/25/1997 12:10:00 AM
From: Richard Saunders	Respond to of 24918

Michael/ AltaQuest - there's some news releases at David's Carlson's excellent research site fin-info.com AltaQuest was listed May 8, 1997 and FirstEnergy Capital was the fiscal agent. First Energy did a financing for 2mil shares at $1.25 - the listing notice in the May'97 copy of the ASE Review indicates a fully diluted number of shares as 12.4mil. As of Sept. there were 10.2mil. o/s. John Thompson is pres/ceo/director, Damon Olsen vp. explor., Daniel Wilson vp engineering, Don Earl cfo/controller, Daniel Halyk sec. Directors include Thompson, Bradley Hurtibise, Joseph Phillips Jr. and Marion Phillips.

To: Michael Mc Donough who wrote (4206)	11/25/1997 9:05:00 AM
From: RIK	Read Replies (1) \| Respond to of 24918

Michael /AQF NEW POOL OIL DISCOVERY IN U.K. Cirque Energy Ltd., AltaQuest Energy Corporation, Jordan Petroleum Ltd. and Courage Energy Inc. are pleased to announce a new pool oil discovery at the Fiskerton Airport No. 1 well in the United Kingdom. The Cirque operated well was drilled to a depth of 1580 meters. The well encountered oil in a 23 meter thick interval of a very porous Basal Westphalian Sandstone unit. A drill stem test over a 10.5 meter interval at the bottom of an 18 meter pay zone recovered clean oil to surface. The oil is a light gravity sour crude (36 API). The hole is currently being prepared to run production casing. This find is significant in the fact that it was drilled on a structure that appears to be approximately three square kilometers in size on 2D seismic. The pay column and size of the feature is similar to the Welton pool that contains in excess of 20 million barrels of recoverable reserves. Production testing will commence as soon as regulatory approvals are received and oil field testing equipment is available. A 3D seismic program will be undertaken to further define this new discovery. Cirque and its partners control 150,000 gross contiguous acres in this area of the East Midlands basin. Interests in this project are Cirque with 37.0% before payout (BPO); 48.2% after payout (APO), AltaQuest with 17.5% BPO; 24.5% APO, Jordan with 25.0% BPO; 15.0% APO and Courage with 17.5% BPO; 10.5% APO.