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Gold/Mining/Energy : Vulcan Minerals - C.VUL -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (200)	5/13/1999 3:25:00 PM
From: Len Hynes	Respond to of 415

Here is Vulcan's latest news....just released. Looking real good for some action in the very near future...remember this drilling will be on the same property where previous drilling intersected ~50 ft. of petroliferous conglomerate.It will be interesting to see if VUL can intersect this zone from a different drill location...and get a better fix on how deep this oil bearing conglomerate actually is.Should be very interesting indeed! Vulcan Minerals Inc. Signs Drilling Contract Stock Symbol: ASE:VUL Shares issued: 9,519,500 ST. JOHN'S, NF, May 13 /CNW/ - Vulcan Minerals Inc. (the company, ASE:VUL) reports that it has submitted a drilling application to the Government of Newfoundland and Labrador to drill a petroleum well on its Flat Bay permit 96-105 onshore western Newfoundland. The application and related permitting is presently being processed. As well, the company has entered into a drilling contract with Eastern Oilfield Services Ltd. to drill the 300 metre well on the Flat Bay permit. The contract is conditional upon obtaining all necessary drilling approvals. Drilling will commence as soon as these approvals are obtained and the rig has been mobilized onsite. In a related matter, the farmout agreement between the company and London Resources Inc. (an affiliated company, see press release dated November 4, 1998) has been amended such that the earn-in drilling commitment is extended from May 31, 1999 to May 31, 2000. It is the company's intention to commence drilling of the above-noted well as soon as permitting allows.

To: Buckey who wrote (200)	5/16/1999 7:05:00 PM
From: Len Hynes	Read Replies (1) \| Respond to of 415

Hi Buckey: A feature article in this weekend's Telegram entitled"Sensor reported to find oil deposits from Airplane", describes how Pinnacle Oil Int. Ltd. with its Stress Field Detector(SFD) technology, is predicting a commercial oil field at Pan Canadian's Shoal Point well-site.The article reports that Encal offered Pinnacle an 8% royalty from its percentage interest in the Shoal Point well.Dan Topolinsky,former senior VP of exploration with Renaissance Energy, now President of Pinnacle claims that the technology is 85% correct when it flies over oil or gas accumulation. The SFD survey system operates on the theory that subsurface mechanical stress in rocks and pressure differentials in fluids produce above ground, non-electromagnetic energy patterns. Having correctly predicted dry holes at AntiCosti Island, the technology is beginning to garner the attention of oil exploration companies.With Pan Canadian approaching target at its Shoal Point well, we won't have long to wait to see if Pinnacle has accurately zeroed in on the "golden goose" that many oil exploration experts believe is lying in wait somewhere on the West Coast of Newfoundland. On another point,with or without success by Pan Canadian, it looks like Vulcan Minerals will be the next Company to spud a test well on the Port au Port peninsula. In a May 13/99 press release,Mr Pat Laracy stated that Vulcan will commence drilling as soon as permitting is recieved from the Government of Nfld. and Labrador.Vulcan has now entered into a drilling contract with Eastern Oilfield Services Ltd. to drill the 300 metre well on the Company's Flat Bay permit.