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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies

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To: Ronald J. Clark who wrote (302)4/11/2000 9:10:00 PM
From: Archie Meeties   of 318
 
Berkley Petroleum Corp. Announces Joint News Release, Update Activities at East Lost Hills
CALGARY, ALBERTA--
Berkley Petroleum provides the following activity update at East Lost Hills;

* Berkley East Lost Hills No. 1 has reached a depth of 19,724 feet and a production liner will be run to total depth. The current status for Berkley No. 1 is a potential gas well.

* The current open hole section, extending from 18,280 feet to total depth, has been wireline logged. A total of 2,474 feet of the Temblor Formation was penetrated by Berkley No. 1, with a net sand interval of 1,410 feet. Net hydrocarbon pay within this interval will be determined via production testing.

* Natural gas and condensate has been flared from the current open hole section on four separate occasions while drilling with mud weights in excess of 17 pounds per gallon.

* Mechanical preparation of the wellbore for the production test will commence immediately. Production testing is expected to commence in May and operations will extend for approximately four weeks.

* Two step out wells, Berkley East Lost Hills No. 2 sec 36-25S-20E, and Berkley East Lost Hills No. 3 sec 20-26S-21E will spud in the next two months.

Public Company partners with Berkley Petroleum in the East Lost Hills development are Elk Point Resources Inc. (TSE:ELK - news), Hilton Petroleum Ltd. (CDNX:HTP), Kookaburra Resources Ltd. (TSE:KOB - news), Paramount Resources Ltd. (TSE:POU - news), PYR Energy Corporation (AMEX:PYR - news), Richland Petroleum Corp. (TSE:RLP - news), Trimark Oil & Gas Ltd. (CDNX:TMK), and Westminster Resources Ltd. (TSE:WML - news). Armstrong Resources LLC is a Private Company partner
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