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 : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: johnlag who wrote (6003)	2/12/1999 6:28:00 PM
From: Len Hynes	Read Replies (1) \| Respond to of 24892

Hi Johnlag; Here is another oil play that may interest your followers: Sit Back and Watch The Action!!!! My sources have confirmed that Pan Canadian spud a well on the Port au Port peninsula of Newfouldland on Wednesday,February 10/99.This long awaited drilling should catch the attention of investors who are looking for a "fresh" investment in the oil patch. This well is being drilled in North America's last unexplored sedimentary basin. According to Alan Boris, a spokesman for Pan Canadian, this well will be drilled to a target about 2400 metres down and is expected to take about three months. Investors may remember that Pan Canadian and Hunt Oil drilled a successful well (Port au Port #1) in 1995....test results indicated the presence of high quality light oil in significant quantities.....up to 5012 barrels of oil and 9.19 million cubic feet of gas a day over a test period of nine days. Vulcan Minerals Inc. , the only active junior oil company in the area has pledged to shareholders that it will drill a well on its Flat Bay concession before May 31/99(25 km from Shoal Point) . In November 1996 Vulcan drilled a test hole to 500 ft. and bottomed in a 50 ft. interval of petroliferous conglomerate which bled light brown,non-biodegraded oil . Subsequently, Vulcan has carried out a seismic program and has identified favorable drill targets through the integration of magnetic,gravity,seismic and geologic data. Additionally, in January,1998, Vulcan was the successful bidder on three large offshore petroleum licences in the Gulf of St. Lawrence adjacent to the coast of Western Nfld. This makes Vulcan Minerals the largest landholder and the only junior public company in the area. Look for investors who follow prospective oil plays to begin giving this play serious attention in the weeks ahead. Investors interested in following this play should follow the company's discussion thread on Silicon Investor site or visit Vulcan's website at: info-mine.com