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Microcap & Penny Stocks : Kismet Energy (KISS) is taking off on PennyStock Picks! -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (119)	10/6/1999 10:20:00 AM
From: RSkarsten	Read Replies (1) \| Respond to of 138

NEWS... Subject: Stockwatch US: KISS Date: Tue, 05 Oct 1999 07:06:31 -0700 From: newsout@stockwatch.com To: slambang@calweb.com (Applies to: KISS) KISMET ENERGY CORPORATION ANNOUNCES THAT THE FIRST WELL IS BEING CONNECTED TO ENOGEX PIPELINE AND CASH-FLOW FROM THE SIGNIFICANT NATURAL Gas Discovery At Lake Wells Prospect in the Arkoma Basin, Oklahoma Will Start Immediately BAKERSFIELD, Calif., Oct 5, 1999 /PRNewswire via COMTEX/ -- Kismet Energy Corporation (OTC Bulletin Board: KISS) today issued the following: "Kismet Energy Corporation (the `Company') is pleased to announce that operations are underway to connect the first well at Lake Wells Prospect to Enogex pipeline. Kismet Energy has a 70% working interest in this well and an immediate cash-flow from this well will strengthen us financially. "Kismet Energy made it financially possible for Energas to drill and prove the Lake Wells Prospect, thereby, taking a significant risk out of the prospect. Since we had a significant gas discovery, we are appalled to note that Energas is now attempting to take our 70% interest in the lands for which payment was made months ago. Kismet Energy always has been able and willing to participate in the second well at the Lake Wells Prospect and it was agreed that drilling should start after the first well was connected to a pipeline. We are not accepting refund from Energas in the amount of $63,364. Kismet Energy has no intention to sell or assign all of its remaining leasehold acreage outside of the initial test well drillsite at the Lake Wells Prospect to Energas. We will seek legal remedies if this situation is not resolved to Kismet Energy's satisfaction immediately." The Company Kismet Energy Corporation is an oil and gas exploration and development company with offices in Alberta, Canada and Bakersfield, California. Further information can be obtained from the company's website: www.kismetenergy.com . This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. While the Company's expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis, actual results may differ materially. Important factors that could cause actual results to differ materially from those in the forward-looking statements include federal and state regulatory actions and developments, the timing and extent of changes in commodity prices and the timing and extent of success in discovering, developing and producing or acquiring oil and gas reserves. For further information, please contact company officials at 1-888-722-1295. SOURCE Kismet Energy Corporation (C) 1999 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Rakesh Dhir of Kismet Energy Corporation, 888-722-1295 /Web Site: kismetenergy.com (KISS) GEOGRAPHY: Oklahoma California Alberta INDUSTRY CODE: OIL SUBJECT CODE: DSC OTC