CanAsia Energy Corp V.CEC

Heres the press release!!!!

[mepecachew]

This was released Friday but dated thursday.Next week will be wild!!!!! TRI-VALLEY CORP ("TRIL-L") - Press Conference EKHO NO. 1 Drillsite Press Conference EKHO NO. 1 Drillsite 3 miles east of Interstate 5, 1/4 mile south of Highway 46 2:30 PM Thursday, May 18, 2000 Tri-Valley Oil & Gas Co. believes its Ekho No. 1 will usher in the third century of Kern County Petroleum activity with a world-class discovery. The Company is now completing the fastest well ever drilled in California below 19,000 feet and will shortly begin production testing to see if Mother Nature actually agrees with all the log data and calculations by several independent sources. Code-named Ekho, the project began in early 1997 after Tri-Valley purchased the worldwide geologic library of the former Great Basins Petroleum Company. Tri-Valley began leasing land immediately along a 26-mile trend east of Interstate 5. Despite precipitous drops in the oil price that starved many small companies, Tri-Valley persevered with the help of a loyal shareholder base of its publicly traded parent, Tri-Valley Corporation (OTC BB "TRIL") and soon had all or part of 35 sections of land over the mapped area. In 1999, Tri-Valley went to Vancouver, Canada in search of funding the balance of the $9.5 million dollar package including the first test well. Nine Canadian juniors traded on the Vancouver Stock Exchange decided to join Tri-Valley in pursuing the biggest onshore oil and gas play in North America - possibly the Western hemisphere. The target potential is four billion barrels of high gravity oil and 10 trillion cubic feet of high Btu natural gas in place in the mapped area. To put it in perspective, the U.S. currently uses about seven billion barrels of oil per year. If it were possible to produce all the oil in place in a 100% successful Ekho discovery, it would represent only seven months of U.S. demand. It has taken 25 years to produce 10 billion barrels from the Prudhoe Bay Alaska Oilfield now in final decline. America very much needs new, large domestic supplies to avoid dependence on unstable foreign sources and the Ekho Project aims to make an important national contribution as well as the local benefits in jobs and taxes it will provide. Formed in 1963, Tri-Valley is in its 37th year of business as a successful oil and gas exploration, production and operating company. The Company went public in July, 1981 and its 19.4 million shares trade under the symbol "TRIL". Both Tri-Valley Corporation and Tri?Valley Oil & Gas Co. are headquartered in Bakersfield, California. F. Lynn Blystone is president and chief executive officer of Tri-Valley Corporation and CEO of Tri-Valley Oil & Gas Co. Joseph R. Kandle is president of Tri-Valley Oil & Gas Co. and Thomas J. Cunningham is secretary-treasurer and chief financial officer of both companies. The nine Canadian Venture Exchange (CDNX) resource companies participating in the Tri-Valley operated Ekho Project and their various initial interests are: Aster Ventures Corp (ASV.V) 20%; Curion Ventures Corp. (CUV.V) 20%; Lucre Ventures Ltd. (LVD.V) 12%; Berkshire International Mining Ltd. (BKR.V) 10%; CVL Resources (CVL.V) 9.64%; Consolidated Bradbury International Equities (CBN.V) 5%; Curlew Lake Resources (CWQ.V) 5%; Pan Ocean Explorations (POE.V) 5%; and Prairie Pacific Energy Corporation (PRP.V) 5%. Tri-Valley Oil & Gas Company will own 12.5% of the well after completion and back in for an additional 12.5% interest after payout of the well. More information is available at Tri-Valley's website, https://www.tri-valleycorp.com and at https://www.stockresearchcenter.com. Additional information on Project Ekho may also be found at https://www.ekhoproject.com. Some Local Statistics Most people have forgotten that for many years, California was the world's largest oil producer. In just the Bakersfield area of the south San Joaquin Valley, there is three times as much oil produced per day as the entire State of Oklahoma! The south San Joaquin Valley has given up more than 13 billion barrels of oil and over 12 trillion cubic feet of gas - more than the Prudhoe Bay and Kuparuk River Oilfields in Alaska combined! If Kern County were a state, it would be the fourth largest producer in the United States after Louisiana, Texas and Alaska. Huge exploration targets remain in the south San Joaquin Valley and Tri-Valley is vigorously pursuing several to help supply California, the world's seventh or sixth largest economy. California presently must import 53% of its rising oil needs and 83% of its increasing gas demand. This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-QSB for the quarter ended March 31, 1999, and the annual report on Form 10?KSB for the year ended December 31, 1999. TEL: [phone] F. Lynn Blystone, CEO FAX: [phone] J. R. Kandle, Pres. _____________________________ ___________________________________________________________________ (c) Market News Publishing Inc. Tel:[phone] All rights reserved. Fax:[phone] MarketbyFax(tm) - To get the NEWS as it happens, call [phone]. © 2000 StockHouse.com | Disclaimer Australia Hong Kong UK USA Investment.com Home BullBoards News Releases Newsletters The Markets Portfolio Tracking Disclaimer, Privacy Policy, Advertise © Copyright 00 StockHouse Media Corporation