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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (7473)	11/26/1997 3:25:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Velvet Exploration Accelerates Exploration Program November 25, 1997 VSE: Trading Symbol: VLV The Company is pleased to announce it will commence the drilling of its third exploration well tomorrow. The well is being drilled at 16-6-44-23W4M and will be drilled to a total depth of 1790 meters. Although the primary target for the well is in the Cretaceous section (1400 - 1500 meters), the well will also test the Wabamun & Nisku formations of the Devonian section. The Company's working interest in this well is 80%. Once the 16-6 well is finished, the drilling rig will move directly to drill the 14-24-44-24W4M location and then to 10-35-43-24W4M for a third consecutive well. The drilling of these three "back to back" wells is consistent with the Company's strategy of significantly accelerating the Samson Cree and Ermineskin exploration programs. Completion and production testing operations at the Company's second well, 10-15-44-24W4 has commenced & results are expected in the next 10 days.