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

To: Herb Duncan who wrote (8992)	2/14/1998 12:28:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / TUSK Energy Announces Spudding of Strachan Well TUSK ENERGY INC. TSE, ASE SYMBOL: TKE FEBRUARY 13, 1998 CALGARY, ALBERTA--TUSK Energy Inc. announces that drilling commenced at the Strachan 3-22-38-9 W5M location on February 13, 1998. TUSK holds interests in 16 1/2 sections on the Strachan prospect (50 percent in 6 sections and 25 percent in 10 1/2 sections). The 3-22 well, a 4,479 metre Swan Hills test will evaluate numerous potential zones in a prospect defined by both 2-D and 3-D sesimic. Primary targets are the Leduc and the Mississippian, both of which produce in the area. The well is being drilled on TUSK 50 percent lands. TUSK will participate for 10 percent and farm out 40 percent (subject to a net 6 percent GORR to TUSK) to hold a 30 percent after payout interest in the four section earning block. TUSK is the largest after payout working interest owner in this block. Loon Energy Inc., a public company of which TUSK is the largest shareholder, will participate for 10 percent of the well (5 percent APO). TUSK will participate in wells at Meekwap (17 percent - Nisku oil), Pine Creek (20 percent BPO and 40 percent APO - Bluesky gas) prior to the end of the first quarter. In addition, a third party has committed to drill a well on 3 1/2 section TUSK prospect at Entwistle (TUSK - 60 percent BPO).