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Gold/Mining/Energy : KERM'S KORNER
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To: Herb Duncan who wrote (11085)6/3/1998 1:08:00 PM
From: SofaSpud  Read Replies (1) of 15196
 
FIELD ACTIVITIES / Raptor Horizontal Well

RAPTOR CAPITAL CORPORATION (''RAPTOR'') ANNOUNCES CURRENT DRILLING OPERATIONS

CALGARY, June 3 /CNW/ - Mr. Ian McMurtrie, President of Raptor, announces
that the Company has drilled the first of two re-entry horizontal development
wells at Minton Saskatchewan and has drilled one of three vertical exploration
wells in Central Alberta.

MINTON SASKATCHEWAN:

The Raptor et al Minton 2D1-18-2C3-17-3-21-W2M vertical well was
re-entered and drilled to a total depth of 3108 meters, with 524 meters of
horizontal oil pay in the Winnipegosis zone. This well will be placed on
stream within a week. A second re-entry well the Raptor Minton HZ
D13-8-C5-17-3-21-W2M horizontal well commenced operations June 1, 1998. Two
horizontal legs of approximately 400 meters each will be drilled in the Red
River zone in this well which is expected to be completed in one week.
Both wells will be drilled at minimal costs to Raptor through a farmout
that will see Raptor's working interest in the Minton field reduced from 75%
to 60% after payout.
Six additional vertical wells are available for re-entry and horizontal
drilling in the Winnipegosis and Red River zones at Minton.

CENTRAL ALBERTA:

The Raptor et al Forestburg 5-3-42-15-W4M well was spudded June 1, 1998
and will be drilled to a total depth of 1,100 meters to test glauconite
channel sands. The Raptor et al Morningside 8-32-42-27-W4M well was drilled to
total depth of 1734 meters and was abandoned having encountered non-commercial
natural gas. The Morningside well was drilled at minimal cost to Raptor. A
third well is expected to be drilled in the area during the summer. Raptor
has working interests averaging 36% - 68% in Central Alberta.

The Alberta Stock Exchange has neither approved nor disapproved this
announcement.

-30-
For further information: Jim Kootnekoff, 1-888-344-7999

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