VANCOUVER, B.C.--(BUSINESS WIRE)--March 21, 2000--
(CDNX:CBN) (CDNX:CWQ) (CDNX:POE) (CDNX:PRP) (OTCBB:TRIL)
David Patterson, Chairman of the EKHO Project Consortium, is
pleased to announce that the EKHO No. 1 well has reached a depth of
15,946 feet and entered the Temblor Formation after only 41 days of
The operator, Tri-Valley Oil and Gas has advised the Consortium
that mud weight has been increased to control the well pressure and
that they are drilling ahead towards the target depth of 19,500 feet.
The EKHO #1 well offsets two wells drilled in the 1970's that
flowed oil from deep formations but were not able to be completed for
commercial production due to technical difficulties encountered at the
time. Tri-Valley believes that it has solved these technical problems
and has been drilling at a record rate in pursuit of the geological
opportunity that could potentially amount to substantial oil and gas
Nine Canadian Venture Exchange (CDNX) resource companies and
various individual investors have funded the EKHO No. 1. The EKHO
Consortium includes, Aster Ventures Corp, (ASV.V) 20%, Curion Venture
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 Corporation is the publicly traded parent (OTCBB
"TRIL") of Tri-Valley Oil & Gas Co., EKHO Project operator.
The Canadian Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
On Behalf of the EKHO Project Consortium
David Patterson, Chairman
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