Jersey Petroleum -JPI (was Jersey Goldfields -JRG) Message Board

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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)

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To: burner who wrote ()	4/28/1998 2:41:00 PM
From: TomKing	of 100

News Release: JPI secures 10% interest on Saskatchewan wells April 28, 1998 News Release: JPI.V Jersey Petroleum Inc. has entered into an agreement with Hightowers Energy Inc. to drill two, dual-leg, horizontal production wells at Minton, Saskatchewan, on lands acquired from Raptor Capital Corporation. Jersey will fund a 10 (%) percent working interest in the wells. The first re-entry well involves the drilling of two separate horizontal legs of approximately 400 metres each from a vertical Winnipegosis production well. The second re-entry well is an existing Red River horizontal well from which two new horizontal legs of approximately 400 metres in length will be drilled. Operations are to commence approximately May 7,1998. The first Winnipegosis production well is anticipated to produce at an initial rate of 500 BOPD or more and recover approximately 580,000 barrels. As this is a re-entry, the well is already flow-lined to the Raptor Minton battery. On behalf of the Board, James E. Yates President

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