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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (12491)	9/25/1998 3:22:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Goldnev Resources Drilling Update GOLDNEV RESOURCES INC. ANNOUNCES UPDATE ON WELL OPERATIONS AT ITS NATURAL GAS PROSPECT IN TEXAS VANCOUVER, Sept. 25 /CNW/ - Goldnev Resources Inc. Trading Symbol: VSE-GNZ Goldnev Resources Inc. (the ''Company'') is providing an update on well operations at its Coos natural gas prospect in Southwest Texas. The Barnes ''39'', Well No.1 was drilled to a total depth of 12,541 feet and the drilling rig released on August 9, 1998. Based on analysis of formation drill cuttings, the wellbore encountered high permeability in the Ellenburger formation and production casing was set at the top of that formation to a depth of 12,459 ft. The Ellenburger is presently being evaluated with a well service rig and as of September 23, 1998, brine recovery totalled 1,150 barrels or 50% of the estimated brine fluid lost to the formation while drilling. Minor gas blows have occurred during recovery operations, however further fluid recoveries will be necessary to determine whether the formation is gas bearing in this interval. The company has a 50% working interest in the well and in the 2,583.8 acres of leases surrounding the well as detailed in previous press releases.