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Gold/Mining/Energy : KERM'S KORNER

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To: SofaSpud who wrote (11100)	6/17/1998 2:45:00 AM
From: Kerm Yerman	Read Replies (2) of 15196

FIELD ACTIVITIES / Exiter Oil & Gas Drilling Update EXETER OIL & GAS LIMITED CALGARY, June 16 /CNW/ - Exeter Oil & Gas Limited is pleased to announce that it has now successfully completed the fourth well in the company's earlier announced 1998 six well drilling program. The well Exeter et al Clive 9-23-40-24W4M was drilled to a total depth of 6014 feet and completed as a Nisku oil well. On initial testing the well flowed at a sustained rate of 146 barrels of crude oil and 915 thousand cubic feet of natural gas per day. During the next month the well will be tied into processing and sales facilities in the nearby area. Of the four wells drilled to date under the program two have been completed as oil wells, one has been cased as a potential gas well and one was drilled and abandoned. The company also advises that it has spud the fifth well in the program, Exeter et al Gunn 12-18-55-3W5M. The well is expected to reach its total depth of 4510 feet within the next week. Exeter Oil & Gas Limited is a publicly traded resource company with shares listed on the Vancouver Stock Exchange (trading symbol ''EOL''). This release has neither been approved nor disapproved by the Vancouver Stock Exchange.

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