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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8859)	2/5/1998 9:06:00 PM
From: Arnie	of 15196

ACQUISITION / Ranger Oil awarded Interest in Block 19 Angola CALGARY, Feb. 5 /CNW/ - Ranger Oil is pleased to announce the award of a 25 percent interest in Block 19 offshore Angola. Block 19 covers approximately 1.2 million acres and lies in offshore Kwanza Basin in water depths ranging from 300 to 1,800 meters. In the last two years several giant Tertiary oil discoveries have been announced offshore Angola, in nearby Blocks 14 and 17. Block 19 is prospective for both Tertiary and Pinda horizons. Initial activity will include a seismic survey with the first exploratory well anticipated in 1999. Fred Dyment, President and Chief Executive Officer, said, ''This award expands Ranger's exposure in the deep water Tertiary play in Angola, the most exciting oil exploration play in the world today, and complements our existing exploration and development activities on Block 4 in that country.'' Issued by: Fred J. Dyment President and Chief Executive Officer

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