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

To: JADE who wrote (62)	1/25/1999 1:37:00 PM
From: Leigh McBain	Respond to of 242

I have also heard that there is a contract in place, for much higher than current prices. I am not so sure however, that they will be able to command actual sales at that level though. They may shoot themselves in the foot for future contract potential, if they try to hold the buyer to the full value of the existing contract. They should get higher than current market though. Salut, Leigh McBain

To: JADE who wrote (62)	1/25/1999 2:01:00 PM
From: Leigh McBain	Respond to of 242

The following is a quick brief on what's up, to the best of my knowledge: - good pressure show in the current well - expected flow rate to be at 1.0 mcf - potential be as high as 3 or 4 mcf - this is only 1 of 4 to be drilled on current project - next 3 to be drilled in immediate succession - gas sales contract in place for well above current market prices - other well undergoing treatment to increase production, results are expected to be out this week or early next - company is sponsoring presentation of new 3D seismic tech. on Tue. - currently 3 separate investment groups doing DD on the company And in addition they do now also simply have more general PR in place. They had not really done much promotional work previously. Salut, Leigh McBain

To: JADE who wrote (62)	1/25/1999 2:21:00 PM
From: Leigh McBain	Respond to of 242

Well a market sell can make a quick change. Last sale at .35 as someone thru Greenline took out 5 separate offers on a market sell. Current bid/ask at .34-.385 with 145K shares traded. Salut, Leigh McBain

To: JADE who wrote (62)	1/26/1999 11:49:00 PM
From: Leigh McBain	Read Replies (1) \| Respond to of 242

Well all, I was able to attend the presentation as I had hoped. It was well worth going. Electro-Seis put on a very interesting presentation. The combined use of the Gravitometer and the 3D Seismic produce a very well defined set of targets to drill. The average economic hit ratio for wildcat drilling in the U.S. for 1994 was 22.7%, Electro-Seis is at 85% overall, using the combined technologies, and is actually 10 of 11 most recently. One other thing was interesting, that being the fact that our presenter, from Electro-Seis, personally holds in excess of 100K shares of Commonwealth. He is putting his money where his mouth is. The ease of identifying targets is amazing, the cost is significantly lower than drilling and much more accurate. And according to the correlation maps shown at the presentation, which were actual maps of Commonwealth's property, WE HAVE TARGETS. Commonwealth has actually garnered exclusive use of the technology for Wyoming. Not only is this of use in identifying productive targets, but also in identifying the MOST productive targets possible. The suggestion at the meeting is that Commonwealth is currently sitting on an in ground resource, on current leases, in excess of 500M barrels of oil. According to Commonwealth, they are still expecting to have these most recent flow rates out, on Wed. They did not have them yet, at the show. Salut, Leigh McBain