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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (11222)	6/13/1998 9:22:00 AM
From: Kerm Yerman	Read Replies (1) of 15196

FIELD ACTIVITIES / Tier One Energy Drilling Results TIER ONE ENERGY CORP. ANNOUNCES CHAMBERLAIN HORIZONTAL WELL PRODUCTION RESULTS Date: 6/11/98 1:45:17 PM Stock Symbol: TO.A TIER ONE ENERGY CORP. announces the completion and production results from the first horizontal well drilled at its Chamberlain (27 degrees API) Basal Quartz oil pool. The Company's first horizontal well was rig released May 31, 1998. Mr. Richard Dahl, Vice-President of Engineering and Operations, reports the well was completed and swabbed at rates of 15 to 20 barrels of fluid per hour with a final water cut of 5%. The well was placed on production June 7, 1998 with average production to date of 315 Bbls of oil per day at a 5% water cut. The current production rate is 375 Bbls of oil per day with a 5% water cut and a 50% draw down. Tier One is accelerating planned development of the Chamberlain pool and expects to drill an additional three (3) horizontal wells and install battery facilities in the third quarter of 1998. Tier One operates the Chamberlain project where the Company owns 100% of the freehold mineral rights and has retained a 73% working interest.

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