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

To: Flea who wrote (632)	10/22/1998 4:37:00 PM
From: Flea	Read Replies (1) \| Respond to of 754

First Kentucky well drilled First Star Energy Ltd FST Shares issued 24,016,195 1998-10-21 close $0.4 Thursday Oct 22 1998 Mr. John Squarek reports The first well in a five well shallow gas program in Johnson County Kentucky has been drilled and is standing as a cased gas well awaiting fracture treatment. The second well, on penetration of a shallower gas zone during drilling, flowed approximately 10 mmcfd uncontrolled for three days, before being brought under control on Friday, Oct. 16, 1998. It is expected that this zone will produce between 1 mmcfd and 1.5 mmcfd (FST 25 per cent) when placed on production. The well will be drilled on down to the deeper main target, and a twin well will be drilled to access the shallower zone. It is anticipated that the shallow well will be completed and on production by late December 1998, in time for the winter heating season when gas prices are expected to be in the neighborhood of more than $3.00 (U.S.). The seismic on this prospect indicates that two or three additional wells may be drilled to this zone, with expected total production of 3 mmcfd to 4 mmcfd (FST 25 per cent). (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com