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Gold/Mining/Energy : first star energy FST on the ASE -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (620)	9/21/1998 9:59:00 PM
From: kingfisher	Respond to of 754

The following observation on First Star is from per Spectives Sept 18th.Available for free perspectives@shaw.wave.ca First Star (FST) discoveryplace.com Dalton (DAL) daltonr.com First Star, Dalton, Tusk (TKE, TSE) and Apache (APA, NYSE) have been working on the Strachan gas prospect for some time. The market had been waiting for news for a long time, and the stock fell off as tight hole status kept the flow of information to nothing. This week, these stocks all picked up in anticipation of the information embargo being lifted after the Sept 16th land sale in which, presumably, the consortium sought to tie up adjacent properties. An announcement was made on Sept. 18th summarizes the gas discovery which has been made. Basically, they hit another structure than what they were targetting, which flowed at 4.8mmcfd. However, because they hit something that was not their intended target, they did not hit the zone in the most optimal way. They now intend to do follow up testing based upon the new geological picture that they have from the recent drilling. That means there is lots of potential in this play, although we expect that this news is a bit of disappointment to the short term traders playing this stock. Expect a bit more weakness but then a nice bounce higher as bargain hunters snap up stock in anticipation of the next round of drilling. 55/100.

To: Ed Pakstas who wrote (620)	9/23/1998 7:49:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 754

Notice For All Does anyone here visit Kerms Korner Subject 10229 or Canadian Oil & Gas Companies Subject 3540 If you have the time, check them out

To: Ed Pakstas who wrote (620)	9/30/1998 1:18:00 PM
From: Flea	Read Replies (1) \| Respond to of 754

50% WI in freehold mineral rights acquired First Star Energy Ltd FST Shares issued 24,016,195 1998-09-29 close $0.4 Wednesday Sep 30 1998 Mr. John Squarek reports First Star has acquired a 50 per cent working interest in the freehold mineral rights (surface to basement) in the west half of section 31-20-3W5M, and the related Cardium oil well (4 bopd). This prospect (Kew prospect) is approximately 1.5 miles from the recent Shell et al Quirk Creek 1-29-20-3W5M horizontal well which has been cased as a Mississippian oil discovery. First Star's plans include the drilling of a horizontal Mississippian test to the same pool (potential for 100 million barrels of oil in place ) and an additional Cardium oil well. The first well to test this Mississippian structure, Shell-Home Kew 6-31-20-3W5 had initial flow rates of 54m3/d oil and 26 m3/d water. The zone was abandoned because of the water production. It is felt that this water problem can be overcome by drilling a horizontal well which does not contact the water zone. There is also additional natural gas potential from a deeper thrust sheet which could be tested in the deep well. First Star also advises that the first well in a five well shallow gas program in Johnson County Kentucky spudded on Sept. 29, 1998 (25.0 per cent W.I.). The wells are expected to average approximately 200 mcfd each. The five wells should be completed by the end of October, and tie-in to the sales gas line is expected by Nov. 15, 1998. Current gas price in the area is $3.48. At Strachan, Alberta, final design of the pipeline to the Strachan gas plant and the wellhead facilities is under way. Plans are to have the well onstream in January 1999 (First Star 20 per cent BPO, 25 per cent APO). (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com