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: CB. who wrote (222)	9/12/1997 8:47:00 PM
From: CB.	of 359

News Release..... 3-D seismic confirms 10 potential well locations Golden Arch Resources Ltd GAI Shares issued 17,280,859 Sep 12 close $0.24 Fri 12 Sept 97 News Release Mr Richard Watson reports 3-D seismic has confirmed 10 Red River well locations in Richland County, Montana. The well locations confirmed are on only five of 14 Red River features that have been identified to date within a 50 square mile 3-D survey shot earlier this year. A Red River well has been drilled and completed within the survey area. The initial flow was 322 barrels of fluid (99% clean premium light crude oil) and 149 mcf of gas per day. Included in the 10 Red River locations is one excellent 1,000 acre geological structure that has the possibility of being a five or more well field. A parallel can be drawn with the Bainville north field, 30 miles to the northeast. This field contains eight Red River producers on 160 acre spacing. Cumulative production to date for Bainville north, which was discovered in 1979, exceeds two million barrels of oil. The Bainville field is still producing from the Red River and secondary objectives after 18 years. The company has a 25% working interest in a joint venture which has 39,822 gross acres in the Williston basin, Montana. Fifty square miles of 3-D seismic survey has been shot; interpretation, land acquisition is continuing and further results are imminent. Additionally, seven Red River wells have recently been completed immediately adjacent to the company's land holdings based on 3-D seismic, with no dry holes. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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