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Gold/Mining/Energy : TransAtlantic Petroleum Corp (TNP.U - was Profco) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Shugarue who wrote (192)	8/26/1998 5:17:00 PM
From: Bill Shugarue	Read Replies (2) \| Respond to of 270

Profco Update.........August 26/98 It seems that the production platform has arrived and secured on location in Nigeria. The pipeline has been placed on the ocean floor and is currently being tested for leaks. Actual production is expected to start on schedule (October 1/98) but if no leaks are found, it could be sooner. Nothing else has changed. They still expect to produce approx. 13,000 barrels of oil and when 1 million barrels of oil are produced (prior to year end) Profco will receive U.S. $10 million. This works out to CDN $0.40 per share. Not bad for a stock trading at only 60 cents.