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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9278)2/26/1998 7:09:00 PM
From: Herb Duncan  Read Replies (1) of 15196
 
PROPERTY ACQUISITION / AltaQuest Energy Corporation Acquires United
Kingdom Acreage

ASE SYMBOL: AQF

FEBRUARY 26, 1998



CALGARY, ALBERTA--ALTAQUEST ENERGY CORPORATION ("AQF") announces
that The Department of Trade and Industry has awarded licenses in
the 8th Landward Oil & Gas Licensing Round. AltaQuest has
acquired 196,000 acres (83,000 net) in and surrounding its
existing acreage in the East Midlands area of the United Kingdom.
These new lands double AltaQuest's land holdings in the area to
168,000 net acres and add six new prospects to existing inventory.
AltaQuest plans to shoot 175 kilometers of 2D seismic on these
new lands and drill up to eight exploratory wells over the next
three years.

AltaQuest would also like to announce that effective March 1, 1998
their new address will be: 350, 409 - 8th Avenue S.W., Calgary
T2P 1E3. Phone and fax numbers will remain the same.

AltaQuest Energy Corporation ("AQF") is a publicly traded company
on the Alberta Stock Exchange.
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