Golden Arch Resources---GAI.V Message Board

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Gold/Mining/Energy : Golden Arch Resources---GAI.V

GAI 8.800

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Mar 22 5:00 PM EST

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To: Chuck Cormi who wrote (187)	7/9/1997 10:02:00 AM
From: Fred Benjamin	of 359

NEWS RELEASE, JULY 09/97 Golden Arch Resources Ltd GAI VSE July 9, 1997 1st Well in Williston Basin to be Completed GOLDEN ARCH RESOURCES LTD. ("GAI-V;GARCF-L") - 1st Well in Williston Basin to be Completed Richard J. Watson, Director of Golden Arch Resources Ltd. announces that as a consequence of favorable drill stem test results coupled with interpretation of electric logs, production casing has been run and cemented of the Jan #1 prospect located in T25N-R56W Richland County, Montana is underway. The well target depth of 12,495 feet was reached and completion operations are scheduled to be completed within 3 to 4 weeks. A drill stem test announced on July 4, 1997 from the Ordovician Red River "C" zone yielded natural gas flows to surface which supported a 20 foot flare and recovery from the test chamber of very light crude (47 degree API). The drill stem test recovered over 10 barrels of oil from the pipe, which suggests a substantial quantity of oil in the target formation. The company has interests in 39,822 gross acres in the Richland county area on which a fifty square mile 3-D seismic survey has been completed. Interpretation of 3-D acquired data is ongoing. Based on seismic, geological and other data the company expects to generate over 25 drillable prospects in this area. Identification of a second prospect to be drilled is underway as part of the ongoing drilling program for 1997. TEL: (604) 266-9910 Richard J. Watson, Director FAX: (604) 266-5000 Golden Arch Resources Ltd.

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