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Gold/Mining/Energy : Kestrel Energy (KEST): California & Australia Plays -- Ignore unavailable to you. Want to Upgrade?

To: Arktic who wrote (29)	10/11/1998 3:40:00 PM
From: Ed Ajootian	Respond to of 37

Paul, This rally is most impressive given the storm throthing about "overhead". With about $.65 a share in cash, this company could easily double from here if they can just succeed in doing an ecomically successful O&G project.

To: Arktic who wrote (29)	3/26/1999 7:30:00 AM
From: Ed Ajootian	Read Replies (1) \| Respond to of 37

Paul, A long time between drinks here, but it looks like KEST may have actually discovered some oil. They have a 7% interest in an offshore Australia well being drilled by Apache Corp. Here is an excerpt from today's update on the web site of Carnarvon petroleum, another one of the participants: Current Depth:2,270 metres Previous Operations Drilled ahead in 8-1/2" hole Current Operations Pulling out of hole for wireline logging after performing wiper trip. Planned Operations Wireline logging in order to evaluate the nature and significance of the shows. Hydrocarbon Indications: A logging while drilling program was undertaken in Sage-1. A preliminary review of the data from this programme indicates that three hydrocarbon intervals have been intersected in the well. The primary objective, Angel Formation sands, was intersected at approx. 2195 metres with 18 metres of hydrocarbon shows down to 2216 metres. The secondary objective the P.bergeri sandstone was intersected at approx. 1994 metres with 6 metres of hydrocarbon shows down to 2000 metres. A third interval was intersected between 1910 metres and 1935 metres with hydrocarbon shows encountered in approx 15 metres of the interval. The reservoir quality within this interval is difficult to assess because fo the presence of glauconite. **************************************************************************** This appears to be quite a large reservoir. Probably no urgency to get in at this time but folks may want to put this one back up on the radar screen and start doing some due diligence here.