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

To: Leigh McBain who wrote (47)	1/14/1999 1:33:00 PM
From: Colt	Read Replies (2) \| Respond to of 242

Hi Leigh , hopefully this answers all of your questions...... Commonwealth Energy CWY:ASE (Alberta stock Exchange) (Canadian small cap - resource sector) One of our researchers recently came across Commonwealth Energy, 52wk high of .79, recent low of .20, last trade at .30. Its a thin trader, so use caution. In this latest press release CWY is adopting some new 3-D geological survey technology that will greatly reduce their exploration costs and finds oil/gas at an outstanding 87% effectiveness. Although the shares issued and outstanding are 24,000,000 the actual public float is just under 3,000,000 as most of these remaining shares are locked up for certain hold periods. The company has money in the till, producing wells that are and will be revenue generators in the coming months, have a great management team dedicated to the success of this company, and a good chart. We have heard of two groups in Canada doing there DD on CWY, and buying could come in at anytime from these larger houses. "Commonwealth Energy is on the verge of dramatic success, and we are treated it as a possible Ultra Petroleum type play," noted one analyst covering the story. Latest press release: Commonwealth signs agreement with Electro-Seise Commonwealth Energy Corp CWY Shares issued 24,488,948 1999-01-12 close $0.34 Tuesday Jan 12 1999 Mr. Bob Stewart reports Commonwealth Energy has reached an agreement with Electro-Seise Inc. (ESI) of Fort Worth, Texas to employ its 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 five 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 five 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 per cent and out of the last ten wells they have surveyed, all ten wells 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 use of this technology will lead to the identification of many highly qualified hydrocarbon deposits at a fraction of past costs. _______________________________________________________