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): February 19, 1998
Commission File Number: 0-14096
FORELAND CORPORATION
(Exact Name of Registrant as Specified in its Charter)
NEVADA 87-0422812
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
12596 W. BAYAUD AVENUE
SUITE 300, LAKEWOOD, COLORADO 80228
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code:
(303) 988-3122
N/A
(Former name, former address, and formal fiscal year, if changed since
last report)
ITEM 5. OTHER EVENTS
Foreland Corporation (the "Company") announced on February 19, 1998 that
the first well of Foreland's 1998 multi-well drilling program has begun
drilling.
The first four wells to be drilled with the CAZA rig include three
development wells at Foreland's Eagle Springs Field and one 3D defined
exploratory well located one-half mile east of the Company's Ghost Ranch Field.
The initial well was spudded on February 14 and is expected to take
approximately three weeks to drill. This development drilling is believed to
increase Foreland's daily oil production through primary recovery and in the
future serve its enhanced recovery program at Eagle Springs.
The Company also reported that several other 3D seismic defined
exploration wells are scheduled to be drilled after seismic processing is
completed in the Pine Valley area. Additional 3D seismic acquisition is planned
during 1998.
Except for the historical information contained herein, the matters
discussed in this report 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.
SIGNATURES
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: March 16, 1998
FORELAND CORPORATION
By /s/ N. Thomas Steele, President
