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): January 14, 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
incorporation or organization) Identification No.)
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 January 14, 1998 the
results of its Enhanced Oil Recovery (EOR) pilot program, formation of
Foreland's EOR Group, and 1998 E & P drilling schedule.
The EOR High-Pressure Air Injection (HPAI) Program was started on November
20, 1997 at the Company's Eagle Springs field. Gas analysis from producing
wells offset to the injection well confirms spontaneous ignition and complete
oxygen utilization. Increased pressure and initial production response has been
detected. Management of the Company believes that these early results are very
encouraging to the overall expectation of the program and that the HPAI Program
could add as much as 8.8 million barrels of oil at a capital cost of less than
$1 per barrel with daily production of 1800 BOPD, thereby increasing to cash
flow and reserves.
The Company has also formed the Foreland EOR Group headed by Foreland's
Senior Engineer Mr. David Green in alliance with Mr. Alexander Erickson. Mr.
Erickson is recognized as the country's foremost expert on HPAI Recovery
Programs. The EOR Group focus will be to identify and acquire properties within
the Rocky Mountain region that meet the necessary parameters for implementation
of HPAI Enhanced Recovery.
Foreland also announced that its 1998 drilling program will include up to
seven development wells at the Eagle Springs field and multiple 3D defined
exploration wells in Pine Valley, Nevada. The first well is scheduled to start
in March at the Eagle Springs field.
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: January 23, 1998
FORELAND CORPORATION
By /s/ N. Thomas Steele
N. Thomas Steele, President
