 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
Vortex Energy annual report Vortex Energy & Minerals Ltd Shares issued 12,646,016 Tuesday Mar 30 1999 Mr. Alan Fraser reviews the company Western Canada The company has yet to successfully complete a production purchase which was stated as an immediate objective in August. Vortex management continues to evaluate prospective acquisition candidates and is confident that patience and persistence will eventually result in a good deal being made on quality assets. In respect of the second component of Vortex's revised business plan, which was to advance its internally generated prospects to the drilling stage, there is significant progress. Subject to financing and interpretation of recently purchased seismic data, Vortex management is optimistic that two to three of Vortex's Canadian prospects will be evaluated in 1999. Forum Prospect Update Vortex holds a total working interest in the Forum project in Los Angeles, Calif., of 30.4 per cent. The planned drilling of the second deep test well on the Forum project continues to move ahead, although predrilling procedures have taken longer than anticipated. Prior to drilling, an extensive and detailed prespud environmental study must be completed. This prespud requirement is now under way. The second deep test well will evaluate a well defined, individual feature referred to as the Crenshaw project, within the larger Forum project area. The Crenshaw project is the largest of several targets at Forum. The test location for the Crenshaw prospect presents a superior bottom hole location for a test of the O'Dea and City zones (that is 9,500 - 10,500+ feet subsurface). The Forum project represents significant upside to Vortex shareholders as an attractive, high risk, high reward oil exploration prospect. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Anybody have thoughts on this stock & where it could go to?? bcjt | ||||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2025 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |