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Microcap & Penny Stocks : Kelly Oil (KOGC) -- Ignore unavailable to you. Want to Upgrade?

To: oilstks who wrote (25)	6/11/1998 3:27:00 PM
From: oilstks	Read Replies (2) \| Respond to of 50

Update on Annual meeting . The following was copied from a post on The KOGC Web site; kelleyoil.com I would strongly advise anyone with a specific question to post it to the KOGC web site forum (If you want KOGC to answer ,you must state that in the subject line or they will not answer it ). Gentlemen: I have copied post I placed on AOLs investment forum on May 29 after my wife & I attended the meeting. Hopefully it helps!Attended mtg.yesterday, if I had any more spare money would buy more KOGC in a heartbeat. Conversation on this board (AOL's board) for the past year has centered around the S. La. property and it's potential which is still valid. Results of the Wylie #12 should be in shortly, casing is set and completion rig is working now. KOGC & WMB are targeting additional sites in S.La as we speak. N. La still plugs along with 1 to 2 years of targeted sites left and N. La production is currently running at 75 mcfe/day.The full impact of the SCANA acquisition was covered by Mr. Bookout. The scope and diversity of the SCANA properties makes S. La. look like kids stuff. Drilling should start in July on the Matagorda well with a partner to be announced soon. Matagorda is east of an AMOCO well currently producing 200 mcfe daily with another well further south of the proposed site producing 50 mcfe daily. Either rate would be great for both production & reserves. Other even more exciting projects acquired due to the SCANA deal include:Cobra JV - 63,000 acresFINA JV - 400,000 acres - huge potentialCMS Nomeco JV - not sure of acreage Bourg, LaTerre C-1 & Seabreeze sites in the above JV's look exceptional to my untrained eye. The great thing about Mr Bookout's presentation and answers to questions is he doesn't hype the potential, he states what is going on in the area or the number of 3-D identified sites in the area and makes no promises or speculation as to drilling outcome. Had a number of financial comparisons of KOGC with their peer group and they were clearly moving towards the head of the pack. Progress since Contour took over is outstanding as evidenced by the report. All in all a very encouraging meeting .I also posted additional note to go to this web site and review the Reserves & Production category. It details the scope of the new ventures very well. Hope this helps guys.