Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: YOYO who wrote (21)	5/18/1998 10:54:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 37

Kestrel Energy Commences Drilling of Dewey Prospect In California's San Joaquin Basin DENVER, May 18 /PRNewswire/ -- Kestrel Energy, Inc. (Nasdaq: KEST), an oil and gas exploration and production company, today announced it has commenced drilling the Dewey Prospect, located 25 miles north of the previously drilled Sylvester prospect, in California's San Joaquin Basin. The primary objective of the well is the Mya member of the Pliocene San Joaquin Formation. The total anticipated depth of the well is 4,000 feet, which the Company expects to reach by the end of the week. According to Kestrel's interpretation of seismic data, the prospect has the potential to contain up to 10.1 billion cubic feet of gas, if gas is present. The Company has a 50% working interest in the project, and expects it will cost $92,000 net to Kestrel to drill the well. Headquartered in Denver, Kestrel has producing properties in California, Louisiana, New Mexico, Oklahoma, Texas and Wyoming. Statements made in this news release that are not historical facts may be forward looking statements. Actual results may differ materially from those projected in any forward looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward looking information. In addition, while the Company's current plans are to drill the wells or develop the properties cited herein at the times and in the manner described, various factors, including but not limited to actual drilling results, equipment availability or breakage, financial or other problems of the operators or co-venturers, could change those plans. A description of the risks and uncertainties which are generally attendant to Kestrel Energy and its industry and other factors which could affect the Company's financial results are included in the Company's report to the Securities and Exchange Commission on Form 10-K. SOURCE Kestrel Energy CO: Kestrel Energy ST: Colorado IN: OIL SU: 05/18/98 13:34 EDT prnewswire.com ************************************************************************** The day of reckoning is nigh. Get in this by the end of the week for a quick little double!