1. Most Discussed
  2. Gainers & Losers
VPE 41.5¢


  1. specking

    945 Posts.

    SAN ANTONIO STILL A CHANCE FOR VPE, see selected parts of the Denstone release below:

    Denstone Ventures Ltd. Quick Quote: V.DST 0.05 (Even)

    DENSTONE VENTURES LTD - Management Discussion
    19/7/02 10:26:00 AM

    Vancouver, BC, Jul 19, 2002 (Market News Publishing via COMTEX) --
    Management Discussion and Analysis


    With the objective of attaining near term cash flow, the Company entered into select oil and gas transactions, and currently owns a 2.5% working interest in the San Antonio oil and gas prospect in California. The San Antonio project operator is currently finalizing a completion plan for the Anvil Bar 75-26 well which was successfully drilled to 9,925 feet.

    Management expects several zones of interest to be tested. These include the lower portion of the Vaqueros sands from 9,595 feet to bottom. This 330-foot section is an analog to intervals that produced 500 barrels per day of 38 degree oil cutting 20% water, with gas flaring in 1983. A zone consisting of 400 feet of highly charged Monterey shale from 8,600 to 9,000 feet will also be tested. Based on correlations with nearby wells and mud log data, the well bore crossed through a thrust fault zone that could yield hydrocarbons at a significant rate. Another attractive interval is a Monterey shale section from 6,100 to 7,000 feet that has an abundance of fractures and exhibits excellent oil and gas shows. This 900 foot thick zone is classic in its analogy to other Monterey shale producing intervals, especially the 500 million barrel San Ardo field, located to the north east of the prospect.

    The project operator has also finalized negotiations on pipeline and storage facilities at San Ardo. The existing pipeline lies 500 feet from the well location, facilitating simple and low cost hook up pending commercial production.

    The Company currently requires additional financing to fund its ongoing operations and commitments, and to enable the Company to pursue additional opportunities. In order to facilitate such financing, management is considering a share consolidation so as to make the Company more attractive to potential investors and therefore assist the Company in raising equity financing thereafter. Accordingly, at the Company's Annual General Meeting to be held August 29, 2002, shareholders will be asked to consider, and if thought fit, to approve special resolutions consolidating the Company's shares on a four-for-one basis, changing the name of the Company and subsequently increasing the authorized share capital.

    Tel: (604) 688-4880 Denstone Ventures Ltd.
    Fax: (604) 684-0642
    Email: [email protected]
    Website: www.denstone.com




Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.