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Gold/Mining/Energy : Kestrel Energy (KEST): California & Australia Plays -- Ignore unavailable to you. Want to Upgrade?

To: Bob (Hijacked) who wrote (15)	12/30/1997 9:19:00 PM
From: Ed Ajootian	Respond to of 37

Janus-1 Offshore Carnarvon Basin, Western Australia Release No: 1Date: Tue 30 Dec, 1997 Victoria Petroleum N.L. has been advised by the Operator, Apache Energy, that the Janus-1 well in offshore Carnarvon Basin permit WA-254-P, commenced drilling on 28 December, 1997. The Janus-1 well is testing the seismically defined Janus fault trap structure which is interpreted to have the potential to contain a most likely case recoverable reserve of 163 million barrels of oil, or 246 billion cubic feet of gas, if hydrocarbons are present, in the target Legendre Formation sandstones at a target depth of 2380 - 2460 metres. The Janus Prospect lies ontrend and 30 kilometres to the northeast of the Reindeer 250 BCF gas discovery in WA-209-P operated by Apache Energy. Janus-1 is planned to be drilled to a total depth of 2495 metres in 14 days. Pertinent information is summarised below: Well Name:Janus-1Permit:WA-254-PLocation of Permit:Offshore Carnarvon Basin, Western AustraliaLocation of Well:Lat: 19o 52' 41.9" S Long: 116o 33' 07.59" EProposed Depth2495 metresTime of Reporting:Time: 0600 hrs WST Date: December 30, 1997 Well Depth:912m Elevation: 65 metres Hydrocarbon Indications: Operations in last 24 Hours Current Operations Drilling ahead in 12 1/4" hole. Operations in next 24 Hours Drill 12 1/4" hole to 1030 metres, set and cement 9 5/8" casing. Participating Companies: Victoria Petroleum N.L. 4.0314% Sun Resources N.L. 7.8571% Carnarvon Petroleum N.L. 8.6914% Apache Energy Ltd 39.1965% Gulf (Aust) Resources Ltd 24.3750% First Australian Resources N.L. 10.7413% Pan Pacific Petroleum N.L. 2.9914% Kestrel Energy, Inc. 2.1429% TOTAL 100.0000% Notes: Victoria Petroleum N.L. has a 4.6% direct and indirect interest in the Janus-1 well, through its direct 4.0314% interest and 26.5% shareholding in U.S. NASDAQ public company Kestrel Energy, Inc.'s 2.1429% interest in WA-254-P. Daily drilling reports will be made to ensure a fully informed market in keeping with the rules of continuous disclosure of the Company's activities. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Looks like this is gonna take a lot less time than I thought. Just two weeks to get down 2400 meters! Pretty impressive. If they can just hit this well it would really give the stock a kick in the pants, what with the Westergaard hype about to unfold.