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Gold/Mining/Energy : CARMANAH RESOURCES LTD ( CKM - TSE ) -- Ignore unavailable to you. Want to Upgrade?

To: david bell who wrote (227)	8/16/1998 5:23:00 PM
From: MrsNose	Respond to of 269

That sounds okay! Still a ways to go, but I guess we can't complain about a 93% increase in one week. I would think that if there was a takeover in the works, then in that case it would pay a premium on the $4. But we'll just hope for some good news, and hopefully get a lot more that $4. Would be nice to get well past that level by mid-fall. Does anyone subscribe to TSE marketdepth on stockwatch? It would be interesting to see how many trades involved Griffiths last week. I can only see the block trades printed in the Financial Post, and of course the last 5 trades on stockwatch. All the best, Margie

To: david bell who wrote (227)	8/17/1998 4:49:00 PM
From: MrsNose	Read Replies (1) \| Respond to of 269

Carmanah Updates Camar Program CALGARY, ALBERTA--Carmanah Resources Ltd. ("CKM" - TSE) announced today that the Camar MPA-1 well is an indicated oil discovery based on drilling and logging results. This highly-deviated well was drilled from monopod "A" in the north lobe of the Camar Field in the Java Sea offshore Indonesia and was sidetracked after encountering a basement high in the original well track. Completion operations are underway; seven-inch casing was run but could not reach total depth due to hole conditions, leaving one of several prospective zones to be completed open hole. Some mechanical problems were encountered during the casing program; these are being addressed at the present time. It is now expected the well will be completed and placed onstream in seven to ten days if the current complications can be overcome in a routine manner. As this is a field development well, no testing operations are planned. Thereafter, the Pride Pennsylvania rig will be released to another operator. Carmanah will then conduct pressure surveys and run a production log at Camar-6 to determine if remedial work is warranted to enhance this well's productivity. The snubbing unit (service rig) for CN-3 is on location and is expected to commence operations immediately to remove the faulty safety valve which has prohibited placing this well onstream since it was completed in May. Carmanah is hopeful that all of MPA-1, CN-3 and Camar-6 (with possible improved productivity) will be onstream by the end of August to supplement current production of approximately 1,600 BOPD from the Camar Field. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Carmanah Resources Ltd. Mr. R.A. Gusella Chairman & Chief Executive Officer (403) 266-4975 (403) 266-5042 (FAX) carmanah@cadvision.com or Carmanah Resources Ltd. Mr. A.F. Badwi President & Chief Operating Officer (403) 266-4975 (403) 266-5042 (FAX) The Toronto Stock Exchange has neither approved nor disapproved the contents hereof.