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

To: Kerm Yerman who wrote (15007)	1/25/1999 1:53:00 PM
From: Kerm Yerman	Respond to of 15196

Canadian Occidental Petroleum Ltd. Final Approval of Farm-In, Encouraging Discovery Offshore Nigeria CALGARY, Jan. 25 /CNW/ - Canadian Occidental Petroleum Ltd. today announced that it has received final approval of the acquisition of a 20% interest in OPL 222, OPL 223, in Nigerian waters, and three onshore blocks in Nigeria from Elf Petroleum Nigeria Ltd. Elf is the operator, with a 20% interest, while Chevron Petroleum Nigeria Limited and ESSO Exploration and Production Nigeria (Offshore East), Ltd. each holds a 30 per cent interest. The two offshore blocks comprise 700,000 acres in water depths ranging from 460 to 3,500 feet. The south eastern boundary of OPL 222 has been questioned. CanadianOxy expects this will be favorably resolved. A discovery well, Ukot-1 has been drilled on OPL 222. The well encountered three oil-bearing intervals and flowed oil at an aggregate rate of 13,900 barrels per day from two of the intervals. The well is located approximately 60 miles offshore in 2,500 feet of water and was drilled to a depth of approximately 9,200 feet. Further Operations ''We still have a lot of work to do.'' said President and Chief Executive Officer Vic Zaleschuk. ''Additional seismic will be required, as well as delineation of the discovery well. However, preliminary data indicates the reservoir could contain commercially significant recoverable reserves.'' CanadianOxy is Growing in Nigeria CanadianOxy has been active in Nigeria since 1995, developing the Ejulebe Field on block OML 109. Located in shallow water, Ejulebe commenced production ahead of schedule in September 1998. The field is currently producing about 10,000 barrels per day. ''There are a lot of opportunities for growth in Nigeria. The Ejulebe development established us in the region. Ukot gives us an exciting play with the potential to significantly add to the company's value'' said Zaleschuk. CanadianOxy is an independent, Canadian-based global energy and chemicals company. Core business activities include the exploration, development, production and marketing of crude oil and natural gas in Canada, the United States, Yemen, Nigeria, Australia, Colombia and Indonesia.

To: Kerm Yerman who wrote (15007)	1/25/1999 1:58:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

SERVICE SECTOR / Veritas DGC Inc. Appointments VERITAS DGC INC. ANNOUNCES MANAGEMENT APPOINTMENTS IN ASIA PACIFIC REGION HOUSTON, TEXAS-- Astill promoted to President, Veritas DGC Asia Pacific; Whiting appointed as Regional Processing Manager Veritas DGC Inc. has promoted Cameron Astill to the position of President, Veritas DGC Asia Pacific and Peter Whiting to Regional Processing Manager, according to Tim Wells, President and COO. Both Astill and Whiting are based in Singapore. "These appointments will continue the success and strong growth we've experienced over the last few years," said Wells. "Cameron and Peter have been key members of Asia Pacific's management team, and their promotions will ensure continuity in operations." Astill has over 20 years experience in the seismic industry including assignments in the UK, Nigeria, and Egypt with Halliburton Geophysical Services, and in Australia with Western Geophysical and Veritas. He joined Veritas in 1994 and prior to his promotion was the Regional Processing Manager based in Brisbane. Astill holds a bachelor of science in statistics from Griffith University in Brisbane, and is a member of EAGE and SEG. He is also Chairman of the Australian chapter of the IAGC, and sits on the board of the Australian National Seismic Imaging Resource. Whiting joined Veritas (then Digicon) in 1994 and was most recently the Regional Technical Manager for Asia Pacific. In his 15 years in the seismic industry, he has held posts in Australia with GSI and Veritas before his present assignment in Singapore. He holds a Ph.D. in applied mathematics and geophysics from the University of Sydney. Veritas DGC Inc. (NYSE & TSE: VTS), headquartered in Houston, is a leading provider of land, transition zone and marine-based seismic data acquisition, seismic data processing, and multi-client data sales to the petroleum industry. Veritas operates seven divisions in selected markets worldwide and, based on revenue, is the fifth largest geophysical services provider.