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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (14899)	1/19/1999 2:16:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD OPERATIONS / Seven Seas Petroleum Announces Status of Current Operations HOUSTON, Jan. 19 /CNW/ -- Seven Seas Petroleum Inc. (Amex: SEV; Toronto: SVS.U) announced today that the Tres Pasos No. 1W-horizontal well has reached a total measured depth of 7180 feet after having horizontally penetrated 1160 feet of the Cimarrona formation. A slotted production liner has been run to prepare for production testing which should begin within the next several weeks. The well encountered excellent oil and gas shows while drilling and initial analyses indicate it should be productive. The Company also announced that it is operating a submersible pump on the El Segundo No. 6 well. The well encountered very good shows of oil and gas while drilling. However, during completion operations it is believed large volumes of fresh water from overlying formations entered the Cimarrona formation. The well is presently pumping fresh water with occasional shows of gas and traces of oil. The Company believes the introduction of water has been eliminated and the well may produce oil and gas after the lost water is recovered. Testing will continue for at least another three to four weeks. The Tres Pasos No. 3 well encountered oil and gas shows while drilling both the Cimarrona and the deeper Villeta formation. The Villeta formation has been perforated, with small gas shows. A fracture treatment is now being designed for the Villeta and subsequent treatment and testing will continue for several more weeks. The Company also announced that a 3D seismic program has been completed on the north half of the Rio Seco and Dindal Association Contracts and processing and interpretation of this information is now underway. Seven Seas Petroleum Inc. is an international oil and gas exploration and production company. For more information, contact Herbert C. Williamson III, Chief Financial Officer at 713-622-8218.

To: Kerm Yerman who wrote (14899)	1/19/1999 2:18:00 PM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

CORP REPORT / Thunder Energy Inc. 1998 Year End Reserves CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today 1998 year end reserves as determined by its independent engineering consultants, Sproule Associates Limited. Total additions from drilling, acquisitions and revisions for the year were 1.4 million barrels of oil and ngl's and 10.3 BCF of gas. Reserve additions replaced 408 percent of 1998's production with year-end reserves growing 30 percent over the previous year. During the year Thunder drilled a total of 33 wells (16.5 net) resulting in 21 gas wells (10.5 net), 9 oil wells (4.5 net) and 3 dry holes (1.5 net). All of the wells were operated by Thunder and drilled in its three core areas. Total capital expenditures for 1998 are estimated at $12.5 million. Finding and development costs are estimated at $5.14 per BOE on a proven plus probable basis and $5.46 on a proven basis only. Thunder's three-year average finding and development costs are $4.11 per BOE and $4.96 per BOE on a proven plus probable and proven basis respectively.