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Gold/Mining/Energy : Commonwealth Energy Corp. (CWY.ASE) -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (43)	1/12/1999 7:07:00 PM
From: Leigh McBain	Read Replies (1) \| Respond to of 242

New technology should significantly decrease exploratory drilling requirements. Salut, Leigh McBain January 12, 1999 Trading Symbol: CWY (ASE) MEDIA RELEASE PROVEN INNOVATIVE GEOLOGIC TECHNOLOGY GIVES COMMONWEALTH A SIGNIFICANT EDGE IN ITS EXPLORATION PROGRAM. Commonwealth Energy Corp. ("the Company") is pleased to announce their agreement with Electro-Seise Inc. (ESI) of Fort Worth, Texas to employ their proprietary 3-D gravity/E geological survey technology on all the company's oil and gas prospects. The ESI system is a culmination of 27 years of research and development in passive geophysical surveys by the company's founder, Richard G. Talbert. The technology offers significant advantages over conventional 3-D seismic systems. The system not only detects subsurface anomalies, but also detects the presence of hydrocarbons in any geologic province or formation. In addition, the system is 5 times faster, costs a fraction of the amount of other 3-D seismic surveys, and can often differentiate between oil and gas deposits. The system has also proven equally effective in surveying previously unexplored areas or in testing and verifying other geological surveys. The company's decision to enter into an agreement to secure a 5-year exclusive use of the technology in Wyoming's Powder River Basin was based on ESI's successful track record. In the past two years, ESI's success rate was 87% and out of the last ten wells they have surveyed, all ten wells (100%) were successful completions. Also contributing to the Company's decision was ESI's successful identification of Commonwealth's Camp Colorado hydrocarbon deposit. The ESI system not only identified the structure, but also accurately detailed each potential hydrocarbon bearing zone. Management is confident that utilization of this technology will lead to the identification of many highly qualified hydrocarbon deposits at a fraction of past costs. For more information, please contact Bob Stewart or Doug Wolters (Investor Relations) at 1-800-950-2587, or Michael Du Mont at (604) 688-3543.