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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: qdog who wrote (7150)	2/2/1998 5:07:00 PM
From: John R Resseger	Respond to of 11888

Geotex Geophysical Services will begin a seismic program in the northeastern segment of the License Area, concentrating on the Chikuduk structure and additional leads identified in this sector. The Chikuduk, currently estimated at 60 kilometers in length, is the largest structure identified in the License Area. It was not included in the Company's previously announced preliminary independent estimates of 1.1 billion barrels of potential recoverable oil reserves. The Kazakstan government had previously drilled a well in this structure, which blew out with gas and condensate, preventing its further evaluation of the well. The second crew will be provided by Mangistaumuniageophysics (''MMG''), a Kazak-based geophysical company, which will begin a seismic program in the southwestern portion of the License Area, near the Bengesh structure. Both crews have been winterized to allow for the crews to continue operations throughout the year. The company currently anticipates that, by January 1998, these seismic programs, which are part of the previously announced minimum work program agreed to between the company and the Kazakstan government, should provide the necessary information to map, in more detail, the structural leads in the area, including Chikuduk, and to evaluate their potential for providing additional recoverable reserves. The higher-graded structures will then be prioritized for a drilling program, which could begin in the second quarter of 1998. I guess the Farris are running late.