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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (10102)	4/14/1998 9:55:00 PM
From: Arnie	of 15196

FIELD ACTIVITIES / Wilshire Oil Company announces Important Oil WEll JERSEY CITY, N.J., April 14 /CNW/ -- Wilshire Oil Company of Texas announced today the completion of an important oil well in Laramie County, Wyoming. The Wilshire McConnaughey #1-23H(a) well in Section 23-16N-65W reached a measured depth of 12,433 feet with a horizontal lateral of 4,524 feet. The well was tested on a 20/64" choke with a flowing tubing pressure of 310 pounds per square inch. The well flowed 60 barrels of oil during a one hour test or the equivalent of 1,440 barrels of oil per day. Wilshire has a 50% interest in this well. This well represents Wilshire's first horizontal venture in the Niobrara "C" Bench zone. Wilshire has multiple offsetting drill sites to this well and expects to drill other "C" Bench wells in the near future. Wilshire is a New York Stock Exchange listed corporation engaged in oil and gas exploration and real estate investment operations. Some information contained within this release is forward-looking and involves risks and uncertainties that could significantly impact expected results. A discussion of these risks and uncertainties is contained in the Company's 1997 Form 10-K filed with the Securities and Exchange Commission.

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