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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Steelguy who wrote (1504)	2/10/1999 9:04:00 PM
From: Bearcatbob	Read Replies (1) \| Respond to of 15703

Thread, Here is the status of the Kismet well. Bob Wednesday January 6, 2:16 pm Eastern Time Company Press Release Kismet Energy Corporation is Pleased to Report That the Operator is Preparing to Run Casing in the Cree Fee 1A Well Bottomed At 17,156 Feet BAKERSFIELD, Calif.--(BUSINESS WIRE)--Jan. 6, 1999--Kismet Energy Corporation (OTC BB:KISS - news; the ''Company'') is pleased to report that the operator is preparing to run casing in the Cree Fee 1A well bottomed at 17,156 feet. The operator has run and evaluated a complete set of logs, and is now preparing to run casing in order to fully evaluate and test multiple gas and oil zones encountered below the 7 5/8 inch casing at 10,000 feet. The drilling rig will be released after casing has been run and cemented. A service rig will be moved to the well location to conduct completion work as soon as it becomes available. After completion of this well, the JV partners are planning to drill a second well, Cree Fee 1-30, at a location already prepared, 4500 feet northwest of this well. Both Cree Fee IA and Cree Fee 1-30 wells are being drilled in the San Joaquin Valley, which is one of the most prolific oil and gas producing regions in the U.S. accounting for over 60% of California's annual production of about 400 million barrels of oil equivalent per year. Richard Churchill, the President, ''is thrilled with the progress of this well, and is looking forward to drilling additional wells with the JV partner to prove up additional oil and gas reserves''. The Company Kismet Energy Corporation is an oil and gas exploration and development company with offices in Alberta, Canada, and Bakersfield, Calif. Kismet Energy Corporation has a 20% working interest in this project with the operator, an NYSE-listed energy company.