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

To: YOYO who wrote (25)	7/20/1998 9:09:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 37

Melanie-1 Onshore Carnarvon Basin, Western Australia Release No: 17Date: Mon 20 Jul, 1998 Victoria Petroleum N.L. advises on behalf of its wholly owned subsidiary Lansvale Oil and Gas Pty Ltd, the Operator of the EP 359 Joint Venture, that the Melanie-1 exploration well in onshore Carnarvon Basin permit EP 359, commenced drilling at 1100 hrs on 19 June, 1998. The Melanie-1 well is testing the seismically defined Melanie fault trap structure which is interpreted to have the potential to contain a most likely case recoverable reserve of 33 million barrels of oil, or 41 billion cubic feet of gas, if hydrocarbons are present in the target Birdrong Sandstone at a target depth of 1375 metres. The Melanie Prospect lies ontrend and 22 kilometres to the south of the 1 trillion cubic feet Macedon gas field, with the 20 billion cubic feet Rivoli Gas Field 18 kilometres to the southeast. Melanie-1 is planned to be drilled to a total depth of 1420 metres. Pertinent information is summarised below: Well Name:Melanie-1Permit:EP 359Location of Permit:Onshore Carnarvon Basin, Western AustraliaLocation of Well:Lat: 21o 48' 58.67'' S Long: 114o 06' 29.9'' EProposed Depth:1420 metresTime of Reporting:Time: 0600 hrs WST Date: 17th July 1998Well Depth:1356 metresElevation: Hydrocarbon Indications: Operations in last 24 Hours: Drill to 1356 meters. Current Operations: Pulling out of hole to change drill bit. Operations in next 24 Hours: Drill ahead . Participating Companies: Victoria Petroleum N.L. 20.00% Premier Oil (Australasia) Pty Ltd 23.75% Phoenix Energy Pty Ltd 15.00% Tap Oil NL 15.00% Sun Resources N.L. 10.00% Petroz NL 10.00% Pace Petroleum Pty Ltd 2.50% Kestrel Energy, Inc. 3.75% TOTAL 100.00% Victoria Petroleum N.L. has a 21% direct and indirect interest in the Melanie-1 well, through its direct 20% interest and 26.5% shareholding in U.S. NASDAQ public company Kestrel Energy, Inc.'s 3.75% interest in EP 359. Notes: Daily drilling reports will be made to ensure a fully informed market in keeping with the rules of continuous disclosure of the Company's activities. A background briefing note for the Melanie-1 Exploration Well is available online at vicpet.com.au ********************************************************************************* YOYO, Hopefully you have gotten back into this turkey recently. The stock has skyrocked on the drilling of this Melanie well. We should find out the results in a matter of days.

To: YOYO who wrote (25)	4/5/1999 9:33:00 PM
From: Ed Ajootian	Respond to of 37

DENVER, April 5 /PRNewswire/ -- Kestrel Energy, Inc. (Nasdaq: KEST - news), an oil and gas exploration and production company, today announced that Apache Northwest Pty Ltd, the operator of WA-254-P in Australia's offshore Carnarvon Basin, has successfully flow-tested the Saffron Sandstone of the Sage-1 well. Kestrel Energy holds a 3% interest in the Sage prospect. The results of the well and the flow tests are being interpreted and will be integrated into the 3-D seismic data to determine where subsequent drilling will take place. Further drilling will be necessary to determine the magnitude and commercial nature of the discovery as well as how the prospect will be developed for production. Further flow testing has been postponed as the severe tropical cyclone Gwenda is headed to the area. The operator's current plans are to abandon the well and move off the rig. The operator flow tested the Saffron Sandstone at a depth of 1909 to 1934 meters, at a rate of 2155 barrels of oil a day with 522 flowing tubing pressure on a 1/2-inch choke, 48.5 degree gravity oil with 425 MCF gas and no water. Additional testing was done on a 3/8-inch choke resulting in 1131 barrels of oil a day with 577 flowing tubing pressure with 330 MCF gas and no water. Timothy L. Hoops, Kestrel's president, said, ''We believe the flow test results achieved to date from the Saffron Sandstone to be a significant step in determining the commercial value of the Sage Oil Field....." ******************************************************************* YOYO, looks like the unbroken record of failures is now broken! Are you still in this stock? I think we will see $2 easy tomorrow, maybe even $2.50. Folks are gonna buy this stock now that it has demonstrated success and also has such high potential with their PNG well that is due to spud in just a few weeks.