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

To: Sam who wrote (2144)	4/5/1999 11:47:00 PM
From: steve gilchrist	Read Replies (1) \| Respond to of 15703

I think it also has a lot to do with just plain weakness in the overall small cap and speculative market. Here's another one, trading for 20 cents, and look the great press release just after the market closed today; betcha a nickel the market just yawns: Lexxor Announces Oil Discovery CALGARY, April 5 /CNW/ - Lexxor Energy Inc. announces a new pool oil discovery in north western Alberta. Lexxor et al Haro 12-18-100-3 W6M encountered an oil-bearing Pekisko Formation containing 41 feet of net oil pay. During an eight hour swab test, the well produced highly mobile, clean 18 degree API gravity crude oil at rates averaging five barrels per hour after completion operations were performed. The well was acidized, but not fracture stimulated, as fluid levels were maintained during the test period. Lexxor drilled and cased a follow-up well in February, 1999 and plans extended production tests on both wells next winter. Industry competitors have drilled or licenced 16 wells adjacent to Lexxor's discovery with at least 5 of these listed as potential oil wells. Lexxor, the project operator, has a 65 percent working interest before payout (32 1/2 percent after payout) in the two cased wells and has a 32 1/2 percent interest in ten sections (6,400 acres) surrounding the discovery. The other working interest partners in the wells are Redwood Energy Ltd. (25%) and Bolter Resource Consulting Ltd. (10%). The Company also purchased a 50 percent interest in two adjoining sections at a 1998 Crown Land Sale. Access to the Haro South area is limited to the winter months only. The recent indicated discoveries and large volumes of oil in place are expected to lead to the development of production infrastructure (roads, pipelines) within the next two years. With strengthening oil prices this project is seen as a candidate for horizontal drilling into the extensive oil- bearing carbonate reservoir. Lexxor is currently reviewing project alternatives with its partners in light of preliminary expressions of interest from outside parties. Lexxor Energy Inc. is a Calgary-based oil and gas exploration company which trades on The Alberta Stock Exchange, symbol LXX.A. THIS INFORMATION HAS NEITHER BEEN APPROVED NOR DISAPPROVED BY THE ALBERTA STOCK EXCHANGE. -30- For further information: Douglas McNichol, President, (403) 571-8110 or Ronald R. Talbot, Vice President, Exploration, (403) 571-8107

To: Sam who wrote (2144)	4/6/1999 4:51:00 AM
From: Bearcatbob	Respond to of 15703

More off topic - sort of: Sam, I share your frustration. However, I think things may be getting better. If you go to Bigcharts.com you can check out these guys versus their moving averages. For instance C88 has just gone above its 200 day sma. Similarly, Union Pacific Resources is also going above its 200. As for the juniors, i do not follow Ultra, they have got to put the points on the board - or the product in the pipe. For ELH I think unless I know nothing - this is a sky rocket ready to take off. I have come to believe that the "kill on no. 1" is the key to removing potential unlimited environmental risk. We know it is there - we just haven't proven we can control the beast. One extra frustration for me is Kismet. They did not test their well at depth due to fear of a blowout. They claim something about a cracked casing. I say cement the thing or sidetrack and recomplete. They say no - they do not want a blowout like ELH. So, I give up the questioning and go away pondering why nothing I get involved with here gets done. My suspiscion is that thier well is not designed for the pressures found at ELH - any knowledgable comment on this would be appreciated. They claim a new well will be started by May 2. So, another summer time result to wait for. Opening day for the Indians today! Go tribe. Cheers, Bob