Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Steelguy who wrote (532)	12/7/1998 9:02:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 15703

FOR FURTHER INFORMATION PLEASE CONTACT: Elk Point Resources Inc. Mr. Aidan Walsh President and Chief Executive Officer (403) 264-1358 (403) 261-8702 (FAX) NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ELK POINT RESOURCES INC. TSE SYMBOL: ELK AND BERKLEY PETROLEUM CORP. TSE SYMBOL: BKP AND HILTON PETROLEUM LTD. VSE SYMBOL: HTP AND KOOKABURRA RESOURCES LTD. TSE SYMBOL: KOB AND PARAMOUNT RESOURCES LTD. TSE SYMBOL: POU AND PYR ENERGY CORPORATION OTC Bulletin Board SYMBOL: PYRX AND RICHLAND PETROLEUM CORP. TSE SYMBOL: RLP AND STANFORD OIL & GAS LTD. VSE SYMBOL: SOG AND WESTMINSTER RESOURCES LTD. TSE SYMBOL: WML DECEMBER 7, 1998 Update #2; Bellevue #1 Well - East Lost Hills; Well Control Operations CALGARY, ALBERTA--The participants in the Bellevue #1 well at East Lost Hills have decided to drill a relief well, Bellevue #1R. The relief well will be drilled to approximately 12,500 feet at which point intermediate casing will be set. The new well will then be steered over to the existing wellbore to intercept it at an estimated depth between 13,500 and 14,000 feet. The relief well will be located 1,500 feet from the Bellevue #1 well. A rig rated for a depth of 25,000 feet is currently being mobilized for drilling of the relief well. The well is expected to spud on December 12, 1998 and will take an estimated 45 days to intersect the existing wellbore. Boots & Coots International Well Control are still assessing whether or not surface intervention on the existing well is possible. Crews have removed most of the equipment and debris from the well site. Plans are to install a diverter assembly that will transport the hydrocarbon stream to two burn pits. Temporary separation and production storage equipment are being procured to extract the light oil or condensate from the hydrocarbon stream which could significantly reduce the volume of hydrocarbons being flared. Most of this equipment is scheduled to be installed within a week. The intense combustion of the hydrocarbon stream limits the ability to conclusively sample and test the stream. Samples taken from the hydrocarbon stream on December 6, 1998 indicate the presence of light oil, condensate, natural gas and water. As previously stated, the operator has not been able to measure the volume of hydrocarbons being flared. -30-