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Gold/Mining/Energy : 25,740' WINFIELD RANCH JV PARTNERS -- Ignore unavailable to you. Want to Upgrade?

To: 1st.mate who wrote (1040)	4/7/1999 7:34:00 PM
From: Ed Pakstas	Read Replies (2) \| Respond to of 1326

I wonder who is getting PV's interest???... Paramax to farm out interest in two Winfield Ranch 17. No. 1-E well formations Paramount Ventures & Finance Inc PVF Shares issued 27,591,374 Apr 7 close $0.35 Wed 7 Apr 99 News Release See Paramax Resources Ltd (PXM) News Release Mr. James Owen reports In West Texas, Paramax decided not to participate in the program to test the Devonian and Atoka formations in the Winfield Ranch 17 No. 1-E well on the South Fort Stockton prospect. The company agreed to farm out its interest in the two formations to a third party, who agreed to test and if they were deemed commercial, to complete the formations. Paramax will retain a 2 per cent interest after payout in these two formations in this well. Operations to test the Devonian and Atoka formations are in progress. Paramax continues to own a 10 per cent interest (7.5 per cent after payout) in the Ellenburger zone in the Winfield Ranch 17 No. 1-E well and 7.5 per cent interest in all formations in the remaining lease block acreage. Paramax has been informed by the operator of the West Delta block 78 well No. 1, located offshore Louisiana, that it is proceeding to put the well on production as soon as possible to take advantage of the higher oil prices. Paramax has a 5 per cent interest (3 per cent after payout) in this well. Paramount Ventures and Finance Inc. owns 55 per cent of the issued shares of Paramax. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com