SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT UNDER TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): October 21, 1997
Commission File Number: 0-14096
FORELAND CORPORATION
(Exact Name of Registrant as Specified in its Charter)
NEVADA 87-0422812
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
12596 W. BAYAUD AVENUE
SUITE 300, LAKEWOOD, COLORADO 80228
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code:
(303) 988-3122
N/A
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(Former name, former address, and formal fiscal year, if changed since
last report)
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ITEM 5. OTHER EVENTS
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Foreland Corporation ("Foreland" or the "Company") announced on October
21, 1997, that the well bore evaluation phase at the Company's enhanced recovery
test project at Eagle Springs field, Nye County, Nevada, has been completed.
The Company reentered the well which will be converted to an injector and
evaluated the casing for soundness and assessed the cement integrity. The
mechanical integrity of the well bore was judged excellent and tests were
witnessed and approved by the appropriate governmental authorities. Additional
surface and downhole equipment is currently being delivered to the site.
Foreland's management believes that with this phase completed it can move
forward with a pilot injectivity test by the end of October. The pilot program
is intended to assess various reservoir and injection parameters and allow
Foreland to begin design work on the compressors after approximately two months
of testing.
A recovery forecast based on the Eagle Springs field oil and reservoir
properties indicates 8.8 million net barrels of additional oil may be expected
from the enhanced oil recovery program. As of December 31, 1996, Eagle Springs
Field had approximately 3.1 million barrels of proven reserves, based on the
Company's independent year end reserve report.
Except for the historical information contained herein, the matters
discussed in this news release are "forward-looking statements" within the
meaning of federal securities laws. Actual results or events may differ
substantially from these forward-looking statements due to numerous risks and
uncertainties, including actual results from drilling for expansion, cash flow
from operations, and other risks discussed in the Company's filings with the
Securities and Exchange Commission.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: October 21, 1997
FORELAND CORPORATION
By /s/ N. Thomas Steele, President
