Calgary-based Gemini Corp. said Wednesday that its new natural gas processing facility in Burstall, SK has successfully commenced operations. “This is significant because it is the first custom gas processing facility to be designed, constructed, owned and operated by the corporation,” said Carl Johnson, CEO. “We will continue to pursue similar projects, including those outside the oil and gas sector, since we believe that this type of service has strong growth potential and could represent an important part of the corporation’s future operations.” The initial design capacity of the plant is 3.8 MMcf/d with provision to expand to 7 MMcf/d. The cost was approximately $1 million and it should generate revenues of $3.6 million over the next 10 years, the company estimated. The anticipated life of this project is in excess of 15 years based on estimates of recoverable reserves in the immediate area. Gemini supplies engineering, project management, fabrication and construction, custom contract operating services and electrical and instrumentation services in Canada and internationally, predominantly to the oil and gas industry.

Plains Resources Inc. reported that it has filed a Form 8-K with the SEC to provide operating and financial guidance for the first quarter of 2002 as well as for the full year 2002. “The 2002 capital plan provides for flexibility to allow the company to pursue accretive and strategic acquisition opportunities as well as repurchasing our common stock and subordinated notes or purchasing the common units of Plains All American Pipeline LP,” said Jim Flores, chairman of Plains Resources. The company said its upstream plans call for capital expenditures of approximately $75-77 million in 2002 as compared to $135 million in 2001. The new level of capital spending is expected to generate a 2-4% increase in production volumes from the 2001 level and a 13-15% growth rate over 2000 levels.

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