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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: george wood who wrote (530)	8/29/1998 9:06:00 PM
From: ocerg	Read Replies (1) \| Respond to of 4686

Here is a summary: 1. St George prospect has the reservoir capacity to contain more than 500 million BOO. 2. Several carbonate reefs have been define within the same formation which have even GREATER POTENTIAL!!! 3. These are considered "world class" prospects, all within Coastal's Lease 224-A 4. Coastal plans to file for additional drilling permits and will approach "partners" to participate in drilling these prospects. 5. Appeal of the St George permit denial is expected to be hear in October. CCO is also appealing the amount of the surety bond. 6. CCO management feels "it is time" for the public to be told the truth about the potential for "major" petroleum discoveries offshore Florida. RE#6 I assume these means the company will launch some sort of PR effort.