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

To: Chi-Chi who wrote (4331)	12/18/1997 10:42:00 AM
From: T.J. McIntosh	Respond to of 24906

To All: Second Phase Of Drilling Starts for LMX Here is the news release on the Oil drilling in Newfoundland ***************************** December 18, 1997 VSE Symbol - LMX U.S. 12g3 Exemption #82-2139 News Release No. 64 LMX GETS "GO AHEAD" THE SECOND PHASE OF THE INGLEWOOD "MAN OF WAR" I-42 WELL, PORT AU PORT PENINSULA, WESTERN NEWFOUNDLAND GIVEN THE GREENLIGHT. LMX Resources Ltd. (LMX) is pleased to announce that Inglewood Resources Inc. (Inglewood) on LMX's behalf has received government & regulatory approval from the Canada - Newfoundland Off Shore Petroleum Board (CNOPB) to begin the second phase of drilling. Phase one consisted of drilling and the setting of surface casing to a depth of 492 feet. Second phase drilling began on December 15, 1997 at Campbell's Creek on the Port au Port Peninsula and is being drilled on Block B of EL1008 to a total depth of 8,000 feet, to assess the hydrocarbon potential of the Cambro-Ordovician section of a large on shore/off shore structure identified in the area. LMX, through Inglewood, will earn a 45% interest in Block B and 10% in Block A. (LMX News Release No. 61, November 25, 1997). On December 15th, 1997 Dr. John Harper, LMX Director and Vice-President of Exploration, other partners in the oil exploration project, as well as government representatives toured the drill site. Those on hand, in addition to Dr. Harper were Inglewood representative, Mr. Gil Dalton of St. John's, Newfoundland, LMX Director & Vice-President Mr. Paul Brownlee of St. John's, Newfoundland, Vinland Petroleum President, Mr. Terry Booker of St. John's Newfoundland as well as the Honorable Kevin Aylward, Minister of Forestry and Aquaculture, and Mr. Gerald Smith, Member of the House Assembly. The well is being drilled using slim-hole drilling technology, and is being carried out by East Coast Drilling Ltd. of Stephenville, Newfoundland. Mr. Bob Harvey and his team from Aegis Engineering of St. John's Newfoundland are managing engineering for the well. This is the first of three wells planned to be drilled by, or on behalf of, LMX in Western Newfoundland. The other two are in the Deer Lake Basin pursuant to a Farm-In Agreement on lands currently owned 100% by Vinland where LMX will earn a 25% interest. Any communication regarding this well and further activity of the Company may be directed to Dr. John D. Harper, Vice President and Director, LMX Resources Ltd, Ste. 780, 839 - 5th Avenue, SW, Calgary, Alberta, Canada.T2P 3C8; Tel. (403) 261-9090; Fax: (403) 261-9998, E-mail: lmxres@telusplanet.net On behalf of the Board LMX Resources Ltd. Don Farrell ************************************* I was also looking at some charts the other day that was showing the rebounding that happens if you are able to pick up stock during the December selling on the Vancouver. Here are the numbers over the last two years that I pulled off the charts. December 12/95(0.37) till January 29/96(0.62) a gain of 62% in less than two months December 16/96(1.51) till January 29/97(1.90) a gain of over 25% in only 6 weeks Lets hope that the pattern continues Best wishes for the holidays Todd McIntosh