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Gold/Mining/Energy : Western Logic Resources WLT-VSE $$$ -- Ignore unavailable to you. Want to Upgrade?

To: SAM-DAN who wrote (86)	6/15/1999 12:18:00 AM
From: SAM-DAN	Read Replies (3) \| Respond to of 112

Well its June and finally WLT issued a news release.Our buddy Hhappy who got us into this play two years ago posted the following message on SH and we hope we will finally see a proper return.Its better than using it as wall paper, "Finally a news release from WLT stating they hope to begin drilling in Saskatchewan within 10 days.A bit surprised as with all the rain in that Province many firms have postponed their drilling.Hopefully WLT will be able to meet their schedule. The stock closed up at .08 and considering the PP was done at .15 would not be surprised to see a quick run to over .20 once they announce spudding of the well.After that there will be the usual speculation prior to completion of the well.If they hit and achieve a decent flow.[They mentioned 1000barrels/day found in adjoining area, but 500B would be very acceptable] Then would see more appreciation of stock value.They receive all revenue [less tax] until they recover their costs and then 60% after royalties. How ever there are limited partners so not sure of what exact percentage will finally flow to WLT. Success of first well will see drilling of second well to begin immmediately thereafter.Glad to see that WLT is the operating company so will be in control of developmennt. Do your own due dil but looks very underpriced at this stage."