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Gold/Mining/Energy : Tusk Energy (TKE) -- Ignore unavailable to you. Want to Upgrade?

To: Scotchman who wrote (1066)	3/12/1999 1:43:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 1207

Thanks for the update Scotchman but in regards to your suggestion Tusk decision to reduce their interest in the shallow well for Section 22 is because of money problems I can assure you that is not the case. With W.T.I oil at U.S$ 11.50 Tusk is flowing $2.5million of cash flow annualized.As a matter of fact production is now up to 920 boe due to Meekwap.The best oil well drilled in Alberta last year by Tusk is still flowing better than expected with no water. Tusk continue to have a significant interest in the Strachan play and are very optimistic on its prospects.If Apache takes over as you suggest we may see a second Swan hills well spud much sooner than I anticipated. Cash flow should increase dramatically with expected tie in of 2 or 3 gas wells in second quarter.If Opec is serious about cutting production oil prices should rise to $18 or more by year end. Investors continue to ignore small cap oil and gas sector but sooner or later value will be recognized. Have a good one, Richard