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

To: Salt'n'Peppa who wrote (2156)	4/7/1999 6:06:00 PM
From: Salt'n'Peppa	Respond to of 15703

Slightly off topic, but many KOB threadsters are eagerly watching this one too. Kismet Energy Corporation (OTC BB:KISS) reports that the operator has finished the first phase completion work and is now proceeding to the second phase at the Cree Fee 1A well. The second phase is expected to take 4 to 6 weeks to complete. The Cree Fee 1A well has designated tight hole status, therefore, Kismet Energy is not allowed to release any results of the testing until authorized by the operator. Information on flow rates will be released after work on all phases has been completed. Drilling of the second well, Cree Fee 1-30, at a location already prepared, 4500 feet northwest of this well location, will commence on or before May 10, 1999. Both Cree Fee 1A 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 US, accounting for over 60% of California's annual production of about 400 million barrels of oil equivalent per year. Kismet Energy Corporation is an oil and gas exploration and development company with offices in Alberta, Canada and Bakersfield, California. Kismet Energy Corporation has a 20% working interest in this project with the operator, an NYSE-listed energy company.

To: Salt'n'Peppa who wrote (2156)	4/7/1999 6:15:00 PM
From: Salt'n'Peppa	Respond to of 15703

Here's another interesting news release by HTP... It looks to me like Mr. Busby made out like a "bandit" on the $10 million private placement. Does anyone know what the second paragraph means? The directors and management of Hilton Petroleum Ltd. announced that further to the news release of January 11, 1999, the company has completed the statutory plan of arrangement pursuant to which Hilton has acquired all of the outstanding shares of Stanford Oil & Gas Ltd. on the basis of 0.5263 common shares of Hilton (the "Hilton Shares") for each Stanford Common Share. The Hilton Shares are listed on the Vancouver Stock Exchange, as an "Advanced" company. The Stanford Shares were delisted effective the close of business on March 31, 1999. As a result of the Arrangement, Stanford is now a wholly-owned subsidiary of Hilton. The Company has 18,382,792 common shares outstanding after this transaction. The company will not be proceeding with the proposed acquisition of a 25% interest in the Seminole prospect. As a result of this Arrangement, Mr. D. Busby, through his wholly-owned private company, Boone Petroleum Inc., has acquired 992,980 common shares of the company and now holds directly or indirectly 2,893,487 common shares representing 15.7% of the issued and outstanding shares. Mr. Busby also acquired warrants to purchase 686,032 common shares, options to purchase 197,489 common shares and a debenture convertible Into 864,075 common shares. In aggregate, Mr. Busby holds warrants to purchase 1,140,406 common shares, a debenture convertible into 864,075 common shares and options to purchase 382,189 common shares. No person acts jointly or in concert with Mr. Busby in connection with this acquisition of company shares. The purchase was made for investment purposes.