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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9092)2/18/1998 12:01:00 PM
From: Arnie   of 15196
 
FIELD ACTIVITIES / Kappa Energy abandons Exploratory Well in Yemen

CALGARY, Feb. 18 /CNW/ - Kappa Energy Company Inc. announces its decision
to abandon the Al Hijera-2 exploratory well in Yemen. Interpretation of
electric logs run in the well showed the target reservoir sandstones to be
water bearing.

Kappa will continue its 1998 exploration program with the Nabors 217
drilling rig moving to Kappa's second exploratory location, South Ma'ber-1
which is located approximately 20 kilometers west of the Al Hijera location.
The Company anticipates this well will spud in approximately 2 weeks.

Kappa plans to drill a total of six or seven wells during 1998. Drilling
in Colombia is expected to commence late in the second quarter with a well in
the Cucuana block in the Upper Magdalena Valley. The Colombian drilling
program will continue throughout 1998.

Kappa Energy Company Inc. is a Calgary based international oil and gas
company with current exploration operations in Colombia, Egypt and the
Republic of Yemen.
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