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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9191)2/23/1998 8:52:00 PM
From: Arnie   of 15196
 
FIELD ACTIVITIES / GHP Exploration commences Operations in Texas


GHP Exploration Corporation (CDN:GHPX.U) announced today that drilling
operations have begun on the Winfield Ranch 17 No. 1-E well located on the
Company's South Fort Stockton prospect in the highly productive Delaware
Basin of West Texas (News-July 9, 1997). The well is being drilled under a
"turnkey" contract and will take approximately nine months to reach total
depth. The Company has a 10% working interest in the prospect.

The primary objective is the Lower Ordovician Ellenburger Formation at a
depth of 26,000 feet. The prospect was identified by interpretation of a 1996
high quality 3-D seismic survey covering 40 square miles. The prospect is on
trend and in-between Gomez field (cumulative production of 4.7 trillion cubic
feet of gas (TCFG)) and Puckett field (cumulative production of 3.8 TCFG).
Additionally, the prospect is immediately south of the McComb field which has
estimated recoverable reserves of 160 billion cubic feet of gas. The 3-D
seismic interpretation over the prospect leasehold indicates that there are
multiple large structural closures which present several drilling
opportunities on the prospect acreage.

GHP engages in the exploration for and development and production of crude
oil and natural gas in the United States and Internationally with operations
and interests in acreage in the Gulf of Mexico, West Texas, Egypt and in
Tunisia. The Company currently has 17.7 million common shares outstanding.
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