USEG - Uranium Power Corporation Message Board

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Gold/Mining/Energy : USEG - Uranium Power Corporation

USEG 1.145

-1.3%

12:29 PM EST

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To: jmhollen who started this subject	2/5/2003 10:02:51 AM
From: jmhollen	of 72

Uranium Power Corporation: Progress Report Open Hole Test Program At 7-32 Well Athabasca Oil Prospect, Fort McMurray, Alberta CALGARY, Alberta--(BUSINESS WIRE)--Feb. 5, 2003--Uranium Power Corporation (OTC BB:URMP)(DAX:URP)--The service rig arrived at the 7-32 well site on January 30 and rigged up January 31. Subsequent minor mechanical delays in part due to winter operating conditions have been experienced. The service rig contractor expects to have reconditioned the well bore to total depth today and then run the tubing string. The process to swab (remove) all drilling mud from the well bore will be initiated on Thursday February 7. The well will be swabbed dry daily. The open hole test program, as described in the January 29 news release will test all fracture systems from the bottom of the surface casing to total depth at 2363 meters, being an interval of 1763 meters or 5784 feet. The numerous fracture systems indicated by the log analysis in conjunction with the oil and gas shows observed in the drilling fluids, drill samples and cores suggest that oil and/or gas flow rates should be experienced during this test. CONTACT: Uranium Power Corporation Brook Bellian, 800/877-1626 or Randal Pow, 888/858-7759 investor@apioil.net www.apioil.net .

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