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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: B. Thomson who wrote (254)	4/9/1998 1:19:00 AM
From: Dale Schwartzenhauer	Read Replies (1) \| Respond to of 701

I wish I could entice management into this forum for a complete response, but alas, I'll have to do. Progress is suppose to be underway at the Forum with permits, hearings, etc. Last I heard was a projected spud date in the fall ('98), but that certainly isn't written in stone given the number of partners and ability to finance another hole. Bacon Island is still waiting on 3-D seismic from the majors, possibly this summer? That might help determine whether to farm-out or take a chance on a sidetrack of last year's attempt. I personally favor the latter if the cost is not excessive and appears to have a reasonable chance of success. The Cochise is still in discussions for a farm-out; most of the Greypower holdings are development and not likely to incite market response, and BMG's Crown Jewel is still future in terms of production and more future for exploration on CWQ's land portion of the project. So that about sums it up. The age old problem is financing and relative dilution. How much financing will CWQ have to do at these levels to maintain its interests, not to mention participating in drilling programs? How many more shares can their market handle without some fundamental changes? It's not an easy situation for management or shareholders. Hopefully something will loosen up in Turner Valley in the next 4-5 weeks. Dale