Condor Gold Fields Inc. Enters Into Sales Agreement With Calpine Corporation.Business Editors WOODLAND, Calif.--(BUSINESS WIRE)--May 31, 2001 Condor Gold Fields Gold Fields Limited is one of the world’s largest unhedged producers of gold, providing investors with maximum leverage to the gold price. The company was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. Inc. (the "Company")(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGFIF)(CDNX CDNX See Canadian Venture Exchange (CDNX). :YGF) announces that it is has been advised by Production Specialties Company of Woodland, Calif. the operator, that the Pale Rider 3-26 well is expected to be tied into sales by June 15, 2001. The Company has further been advised that a gas sales contract Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. has been entered into with Calpine Corporation ("Calpine") (NYSE NYSE See: New York Stock Exchange :CPN CPN Communist Party of Nepal CPN Commercial Property News CPN Civic Practices Network CPN Calling Party Number CPN Community Psychiatric Nurse (UK) CPN Cisco Powered Network CPN Connaitre et Proteger la Nature ). Calpine's revenue for the three months ended March 31, 2001 totaled $1.23 Billion US. Calpine is engaged in the generation of electricity in the United States and Canada. Calpine is involved in the development, acquisition, ownership and operation of power generation facilities and the sale of electricity and its by-product by·prod·uct or by-prod·uct n. 1. Something produced in the making of something else. 2. A secondary result; a side effect. by-product Noun 1. , thermal energy, primarily in the form of steam. Calpine has ownership interests in and operates gas-fired cogeneration facilities, gas fields, gathering systems and gas pipelines, geothermal steam fields and geothermal power generation facilities in the United States and Canada. Each of the generation facilities produces and markets electricity for sale to utilities and other third-party purchasers. Thermal energy produced by the gas-fired cogeneration facilities is primarily sold to governmental and industrial users. The Company is extremely pleased to be involved in the Pale Rider 3-26 well, which was featured on the NBC news. The Pale Rider 3-26 well flow tested as high as 8.1 million cubic feet of gas per day on a restricted choke and is the deepest cased commercial well in northern California. The Company has a 1% carried interest in this well that is adjacent to the Rio Vista Gas Field, the single largest gas field in the state of California that has produced 3.6 Trillion Cubic Feet of gas to date. About Condor Condor is a junior oil and gas exploration Company engaged in the exploration, development and production of onshore oil and natural gas in California. Success on Condor's first natural gas well, the Pale Rider 3-26, has expedited future drill programs, which have been identified and are being evaluated for future involvement. By order of the board of directors "Graeme Sewell" Graeme Sewell, President The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has neither approved nor reviewed the information contained herein. Some statements in the report are forward looking and are subject to certain risks and uncertainties. These risks and uncertainties include, but are not limited to, economic conditions, changes in law or regulations, demand for products and services of the company and the effect of competition and market price fluctuations. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any forward-looking statements. |
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