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Gold/Mining/Energy : POE:VSE PAN OCEAN EXPLORATIONS INC. -- Ignore unavailable to you. Want to Upgrade?

To: Len Hynes who wrote (39)	3/31/1999 5:27:00 PM
From: CIMA	Read Replies (2) \| Respond to of 277

The rumored release apparently still may come out today, otherwise tomorrow AM. I'm hearing the delay is due to the recent Mobil/Exxon merger. Mobil has signed off but Exxon has to approve before any release can go out. They're trying to track down the right guy in Exxon.

To: Len Hynes who wrote (39)	3/31/1999 7:15:00 PM
From: Len Hynes	Respond to of 277

Hi CIMA The ink was barely dry on my update on the West Coast Oil Play when we see Vulcan Mineral's release a status update on it's exploration projects including it's plans for a drill program on its Flat Bay oil permit.....good timing, or mere clairvoyance or is it Hynessight as suggested by CyberRock. In any event, I was happy to see Mr Laracy reaffirm his earlier committment to drilling an onshore well within the next month or so on the company's Flat Bay permit. Interestingly, the company is moving forward in preparing a full geological report on its offshore properties in readiness for a much higher anticipated level of interest and activity in this area in the coming months.The information put forward on the company's Carbonear and Alberta Diamond properties suggest to me that a number of companies may be interested in a joint venture relationship on these projects. Here is the press release: Vulcan Minerals Inc. Exploration Update Stock Symbol: VUL:ASE Shares issued: 9,519,500 ST. JOHN'S, NF, March 31 /CNW/ - Vulcan Minerals Inc. (the company, ASE:VUL) provides the following update. Western Newfoundland - Onshore Petroleum ---------------------------------------- The company is preparing a drill application to submit to the Newfoundland Department of Mines and Energy to seek approval to commence an onshore well on permit 96-105. It is Vulcan's plan to commence this well prior to May 31, 1999. On February 8, 1999 PanCanadian et al spudded the Shoal Point well, an onshore to offshore test, approximately 25 km north of Vulcan's permit 96-105. The PanCanadian well is reportedly on schedule towards its first target at 2400m. Western Newfoundland - Offshore Petroleum ----------------------------------------- The company has retained an independent geophysicist to interpret approximately 600 km of seismic data existing on its offshore licences 1036 and 1037. The purpose of the exercise is to identify seismic leads and structures that provide petroleum targets. The project has been ongoing for the last several weeks and should be completed shortly. Carbonear - Zinc-Lead --------------------- The company has received a detailed core description and property assessment report from an independent geologist on its Carbonear property. The report concludes that the property has very good potential for a sedimentary-exhalative zinc-lead deposit. The report is being used to attract potential joint venture partners to advance exploration on the property. Alberta Diamonds ---------------- The recently acquired aeromagnetic survey (news release February 9, 1999) is presently being shown to certain diamond exploration companies operating in Alberta towards soliciting joint venture partners to advance exploration on the property. Mr. Brendan Sullivan has resigned from the Board of Directors. The Board thanks him for his contribution to the company and wishes him success in his business endeavours. The Alberta Stock Exchange neither approves nor disapproves of the information contained herein. -30- For further information: Mr. Patrick Laracy, President, Vulcan Minerals Inc., (709) 754-3186, fax: (709) 754-3946 or E:mail: laracy@thezone.net, Website: info-mine.com