Active projects:

Wellwater Conspiracy
Wellwater Conspiracy is Matt and John McBain. John is known for his work in Monster Magnet. While Ben Shepard is no longer involved in the project, Josh Homme, from Queens of the Stone Age, has contributed to the new record.
Current Status: Wellwater Conspiracy's second full length record, Brotherhood of Electric (operational directives) was released on February 9th. The record can be ordered directly from Time Bomb recordings as well as CDNow
News on the vinyl: I spoke with an individual at Third Gear Records earlier today. They indicated that the Brotherhood of Electric vinyl is still a good month away. The vinyl will contain several tracks not appearing on the cd and cassette versions. The band will continue to release singles on vinyl. Superelectro Sound Recordings is now indicating that the 7" we were expected in Spring has been postponed until Fall. Ah well.
Latest News: May 12, 1999. On March 30, Matt was featured in a chat at Boom Theory. He discussed a variety of things, including some thoughts on Wellwater...Matt hopes to do more Wellwater work in the future and Ben Shepard may even take part at some point. They are currently working on a video that is being directed by Ed Vedder. Matt, Josh, and McBain worked together on lyrics for Brotherhood of Electric. And finally, my favorite portion of the chat, "Wellwater is not getting enough radio support, goddammit." The entire chat transcript can be viewed here.
Relevant Sites:
Wellwater Conspiracy, a *great* resource for accurate up to date info on Wellwater Conspiracy. Also includes a complete discography and articles section.
Another Wellwater page has a nice interview with John McBain.