CORRECTION FROM SOURCE PAN EAST PETROLEUM ANNOUNCES RESULTS OF MAJOR NEW GAS DISCOVERY.CALGARY, ALBERTA--(BUSINESS WIRE)--June 7, 1995--PAN EAST PETROLEUM (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :PEC) Pan East Petroleum Corporation is pleased to announce the results of a major new gas discovery in the Berland River area of West central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. , approximately 40 miles southwest of Fox Creek. The Company and its industry partner, Canadian Hunter Exploration Ltd., drilled (rig release of June 7, 1994) a 3700 m.(12,140 ft.) Devonian test at 7-5-59-24W5M. The 7-5 well was perforated in August, 1994 in the Wabamun Formation within the interval 3603.5 m. to 3650 m. and flow tested on a restricted choke at a rate of 19 million cubic feet per day. The calculated sandface absolute open flow potential (AOF AOF Academy Of Finance (New York State Department of Education) AOF Afrique Occidentale Française (French) AOF Avon Old Farms (Avon, CT school) ) is 300 million cubic feet per day. The reservoir is in porous dolomite dolomite (dō`ləmīt', dŏl`ə–). 1 Mineral, calcium magnesium carbonate, CaMg (CO3)2. of the Pine Creek Pine Creek may refer to:
During the past winter Pan East participated as to a 24.5 percent interest in the construction of a 40 mile, 12 inch sour gas pipeline (Kaybob West Gas Gathering System) from its Berland River property to the Kaybob South #3 (K-3) gas plant. Other partners in the pipeline are Chevron Canada Resources, Canadian Hunter, and Amoco Canada Resources Ltd. The 7-5 well, which contains 15% Hydrogen Sulphide (H2S H2S Hydrogen Sulfide H2S How to Succeed in Business Without Really Trying (Also abbreviated H2$) H2S Heart to Soul (song) ) was placed on production May 7, 1995 and currently is producing through the new pipeline at a raw gas rate of 42 million cubic feet per day. Pan East is the operator of the lands, wells, and facilities at Berland River while Chevron operates both the Kaybob West Gas Gathering System and the K-3 gas plant. Pan East owns 18,560 gross (9,013 net) acres at Berland River. A second Wabamun test, located at 15-36-58-25W5M, recently has been drilled and cased by Pan East and Canadian Hunter and is awaiting completion. The Company plans additional tests on its extensive acreage holdings at Berland River to evaluate the full potential of this new discovery. Pan East trades on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol PEC. CONTACT: Pan East Petroleum Richard A. Walls, 403/234-7477 Fax, 403/234-7540 |
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