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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (11112)	6/9/1998 11:59:00 AM
From: Kerm Yerman	Read Replies (2) of 15196

FIELD ACTIVITIES / Goldwater Resources Announces Successful Well In California GOLDWATER RESOURCES LTD. - 61-9 WELL COMPLETED AS AN OIL AND GAS WELL Date: 6/8/98 3:42:17PM Stock Symbol: GWR The Board of Directors of Goldwater Resources Ltd. (the "Company") is pleased to announce that the 61-9 well located in Kern County, California, has been successfully completed as an oil and gas well. The well was drilled to 10,161 feet and has been cased and cemented with 5 1/2" casing. Electric logs confirmed earlier mud log reports which show 3 produceable zones of 10 feet, 12 feet and 100 feet. In addition, the well was set up for future re-entry to test lower Stevens Horizons 500 feet deeper. This will be done after depletion of reserves in the upper 122 feet of sands. Productions Specialties, the operator, estimates total costs are on the original budget. On Behalf of the Board of Directors (signed) -------------------------------------- George E. Scott President Tel: (604) 687-4750 Fax: (604) 687-7415 No Stock Exchange has approved or disapproved the information contained herein.

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