Vulcan News from Oilworks.com
The following news items on Vulcan's Western Newfoundland Oil Exploration Program appeared recently in Oilworks Magazine.May be of interest to those of us keeping abreast of the company's latest developments.
VULCAN MINERALS BEGINS DRILLING IN WESTERN NEWFOUNDLAND (12/06/01)
Vulcan Minerals of St. John's, Newfoundland has awarded a drilling contract to
Petro-Drilling of
Springdale, Newfoundland to drill the St. George Arch petroleum prospect onshore
western
Newfoundland. The well name is Captain Cook #1 in memory of Captain James Cook, an
18th
century British maritime explorer of western Newfoundland.
The proposed location will be drilled to 700 metres in December by a slim-hole coring rig.
The
ultimate testing of this permit for petroleum will require a multi-well program over the
coming
months including further evaluation of Flat Bay #1, which encountered in excess of 100
metres
of oil bearing formation approximately three kilometres southwest of Captain Cook #1.
VULCAN MINERALS WILL ACQUIRE SEISMIC DATA ON ONSHORE PROPERTY
(12/13/01)
Vulcan Minerals of St. John's, Newfoundland has arranged a non-brokered private
placement
of 200,000 flow-through shares at a price of $0.50 for proceeds of $100,000 to be used
to
acquire seismic data on its onshore petroleum permit 96-105 in western Newfoundland.
The company has entered into an agreement with Kinetex Inc. of Calgary, Alberta to
acquire a
minimum of 19 kilometres of data on permit 96-105. Permitting has commenced and
acquisition is expected to be complete by the end of this month. This seismic data will
enhance and expand the company's knowledge of the northern Bay St. George basin and
provide additional drill targets. The company is presently permitting the Captain Cook No.
1
well and site preparation is under way.
VULCAN COMMENCES DRILLING PROGRAM IN WESTERN NEWFOUNDLAND
(01/02/02)
Vulcan Minerals Inc. of St. John's, Newfoundland has commenced its onshore drilling
program
in western Newfoundland. Conductor casing has been drilled to a depth of 16.4 metres
with a
water-well unit designed for efficient penetration of overburden rocks.
Drilling of the main hole is anticipated to commence in the first week of January, subject to
regulatory approval by the provincial department of mines and energy. Work at the
Captain
Cook No. 1 well will test a target in the northern Bay St. George Basin for petroleum and
salt.