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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 subject2/20/2003 10:49:30 AM
From: jmhollen   of 72
 
Uranium Power Corporation: Progress Report 7-32 Well Athabasca Oil Prospect Fort McMurray Alberta

CALGARY, Alberta--(BUSINESS WIRE)--Feb. 20, 2003--
Uranium Power Corporation (OTCBB:URMP)(DAX:URP)

The Company reports it experienced mechanical problems with the logging equipment utilized to identify the interval over which the 1994 primary cementing operation had failed. Operations to conduct a cement squeeze over the failed interval commenced February 19, 2003 and are estimated to require 4-5 days following which open hole testing will then resume.


The objective of this completion program is to swab dry the well to permit inflow to occur from any interval below the bottom of the surface casing at 600 meters (1968 feet) to roughly 2350 meters (7710 feet).

CONTACT:
Uranium Power Corporation
Steve McGuire, 800/877-1626
Randal Pow, 888/858-7759
investor@apioil.net
www.apioil.net

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