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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9092)2/18/1998 5:25:00 PM
From: Arnie   of 15196
 
FIELD ACTIVITIES / Calvalley Petroleum has new Exploration Project


Calvalley Petroleum Inc. today announced its participation as a fifty percent
(50%) working interest partner in a drilling and seismic joint venture
arrangement in the Battle Creek area of S.W. Saskatchewan. This contiguous
block of 16 sections (10,240 acres) of petroleum and natural gas rights is
located 30 miles S.E. of the city of Medicine Hat, is accessible on a year-
round basis, and is in close proximity to pipelines and facilities.

Calvalley, as the designated managing-operator intends that the initial
exploration well will be drilled within the next 30-45 days to a depth of
approximately 1300 meters, where it is anticipated that significant natural
gas reserves will be encountered in the Second White Specks Formation (850m)
and oil production from the Shaunavon Zone (1300m).

Calvalley Petroleum Inc. is a Calgary-based oil and gas exploration and
development Company whose shares are traded on the Montreal Exchange.

Ticker symbol: CVI.A (ME)
Newspaper Abbreviation: Calvalley

Source: Edmund Shimoon, P. Eng.
Chairman and Chief Executive Officer Calvalley Petroleum Inc.
Ph. (403) 297-0490 Fax. (403) 297-0499
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