"Old World" Engineering Report Completed: Exceptional Results -- 15.16 Billion Cubic Feet in Potential Gas Reserves.CALGARY, Alberta--(BUSINESS WIRE)--April 19, 1999-- Commonwealth Energy Corp. ("the Company") (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :CWY CWY Canada World Youth (International Youth Corps) CWY Clearway (aviation) ) is pleased to announce it has completed the purchase of the "Old World" gas field in Parker County, Texas Parker County is a county located in the U.S. state of Texas. In 2000, its population was 98,495; in 2005, its population was estimated to be 102,801. The county is part of the Dallas/Fort Worth Metroplex. referred to in the March 1, 1999 Media Release. The Property consists of 3,000 contiguous acres and is currently producing 600,000 cubic feet of gas per day from 6 (six) wells. An independent engineering report dated April 9, 1999 by Thos D. Humphery Oil Properties, Inc. states that the 3,000 acre Old World field contains 15,163,341,000 (15.16 Billion) cubic feet of proven and unproven unproven Dubious, nonscientific, not proven, quack, questionable, unscientific adjective Relating to that which has not been validated by reproducible experiments or other scientific methods for determining effect or efficacy gas reserves. The proved developed producing gross reserves of the 6 (six) producing wells are 844,980,000 cubic feet of gas. Furthermore, the report states that there are an additional 716,361,000 cubic feet of gas in gross reserves behind pipe in these 6 (six) wells. In addition to these proven reserves, the 3,000 acre prospect potentially contains 13,602,000,000 (13.6 Billion) gross undeveloped cubic feet of gas reserves. PHASE 1 will be a program developed to bring the behind pipe gas reserves into production. PHASE 2 will be to develop the additional 13.6 Billion Cubic Feet of gas potential. In other news, the company will not proceed with the acquisition of the "Pinnacle Reef" gas play in Oceana and Montague Counties, Michigan announced in the December 21, 1998 Media Release. For more information, please contact Bob Stewart There are different people named Bob Stewart:
THE ALBERTA STOCK EXCHANGE Alberta Stock Exchange See Canadian Venture Exchange (CDNX). HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. COMMONWEALTH ENERGY CORP. Phone: 1-800-950-2587 Fax: 1-604-536-2369 Web-site: www.commonwealthenergy.com E-mail: coenergy@direct.ca |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion