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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8933)2/10/1998 8:11:00 PM
From: Arnie   of 15196
 
FIELD ACTIVITIES / Wilshire Oil Co. announces Completion of Gas wells

JERSEY CITY, N.J., Feb. 10 /CNW/ -- Wilshire Oil Company of Texas
(NYSE: WOC) announced today its participation in the successful completion of
twelve gas wells in Southeastern Alberta, Canada.

Plans have already been made to drill an additional fourteen wells in the
same area. The wells are all being completed in both the Medicine Hat and the
Milk River formations. All of this activity is taking place in the Medicine
Hat Field. Wilshire has a 30% interest in this project.

This activity is being directed by the Company's wholly owned Canadian
subsidiary. This project will continue to be of significance to Wilshire
since in addition to the 26 wells described above, there are thirty more wells
available for future drilling.

S. Wilzig Izak, Chairman of Wilshire, stated, "This successful undertaking
will substantially enhance the Company's revenues and earnings for our
Canadian subsidiary."

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 1996 Annual Report.
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