SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT UNDER SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): May 5, 1998
Commission File Number: 0-14096
FORELAND CORPORATION
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(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 (Zip Code)
Offices)
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 announced on May 5, 1998, that the Company has made a new
field discovery through drilling the Sand Dune #88-35 exploratory well in
Railroad Valley, Nevada.
The well was drilled to a total depth of 6,410' and production casing is now
set. The well recovered an asphaltic 25.4 API gravity oil through a drill stem
test. Production rates will be established upon completion anticipated to be
within 30 days.
Foreland's management believes that this discovery validates the benefit of 3D
seismic in Nevada exploration, that this discovery will add reserves and
revenues, and is a timely fit to the Company's pending acquisition of the Petro
Source Refinery assets.
Additional 3D seismic defined targets in Pine Valley, Nevada are scheduled to be
drilled this year.
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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: May 21, 1998
FORELAND CORPORATION
By /s/ N. Thomas Steele, President
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