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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?


To: Richard Saunders who wrote (5130)6/2/1998 5:11:00 PM
From: ddl  Respond to of 24917
 
To ALL \ Primeline Energy (PEH.V)
Does anybody follow this new oil & gas play?
Shares owned (92%) by the 4th richest Chinese family who sunk their own money and hit on the first well 100km off shore in China's south seas.
Results were 9.86 mmcfpd of gas + 117 bopd in a block 75% owned by PEH, 25% owned by the Family. Estimated most likely rserves are 660 bcf. This block has 1.5 million acres (6,000 sq. km) and they are currently doing seismics for appraisal wells.
I'm also told price of ngas is 2-3 times US market in China!!
I don't know if this has good potential or not? Anyone? - tia - denis