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Gold/Mining/Energy : BPI Industries Ltd (BPR-VSE)
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To: WR61499 who wrote (58)9/4/1997 4:59:00 PM
From: Ross   of 355
 
Clark 1A Oil Well Completed Successfully

BPI INDUSTRIES INC. ("BPR-V;BPINF-L")

- Clark 1A Oil Well Completed Successfully

Curtis R. Huber, Director of BPI Industries Inc. announces that Amosoil Inc., the Company's wholly owned subsidiary has reported that the Clark 1A oil well on its South Boyleston Unit in southern Illinois is a successful well and is in the process of being completed for production. Amosoil has a 50% working interest in the Clark 1A oil well.

Tubing is currently being run in the well and a tank battery is being set up to store the oil. Actual production numbers will be available over the next couple of days.

The Company also wishes to announce that it has completed 445,000 units of private placement announced July 2, 1997 for a net receipt to the Company of $1,001,250. A finder's fee of 63,500 warrants exercisable for a period of two years at $2.60 in the first year and $2.99 in the second year, was paid.

TEL: (604) 685-8688 Curtis R. Huber, Director FAX: (604) 683-1797 BPI

Industries Inc.
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