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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (10301)	4/23/1998 11:24:00 PM
From: Kerm Yerman	of 15196

FIELD ACTIVITIES / PanAtlas Energy Inc. Meekwap 4-21 Test Results PANATLAS ENERGY INC. TSE SYMBOL: PA APRIL 23, 1998 PanAtlas Updates Meekwap 4-21 Test Results CALGARY, ALBERTA--The 4-21-66-15 W5M Meekwap D-2A Unit development well (news release April 8, 1998) has been producing since April 6, 1998. Over a 14 day test interval ending April 21, 1998 production from this well averaged 1,791 Boepd (313 Boepd net) consisting of 1,608 Bopd and 1.83 Mmcf/day. The well flowed water-free oil throughout the test on a 28/64 inch choke with an average flowing tubing pressure of 1,091 Psi. Construction is in progress to tie this well into the existing Unit facilities. The 4-21 discovery was positioned on the basis of 3-D seismic data. Several follow-up wells are being planned. The Unit operator has proposed the first follow-up location in the southeast quarter of section 20-66-15 W5M and expects to spud May 15, 1998, with approval of the Unit participants. PanAtlas has a 16.73 percent working interest and an 0.87 percent net profits interest in the Meekwap D-2A Unit containing this well and follow-up locations.

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