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Gold/Mining/Energy : Indo-Pacific Energy Ltd. (INDX) -- Ignore unavailable to you. Want to Upgrade?

To: SnakeInATuxedo who wrote (860)	1/24/2000 7:49:00 PM
From: Hernan UMANA	Read Replies (2) \| Respond to of 866

Company: Indo-Pacific Energy Ltd Exchange/Symbol: OTCBB:INDX 52 Week High/Low: $1.28/$0.31 Last Close: $0.343 Shares Outstanding: 28.3 Million ========================= Indo-Pacific Energy and Trans-Orient Petroleum Announce New Zealand Exploration Well VANCOUVER, British Columbia, Jan 24 /PRNewswire/ -- Indo-Pacific Energy Ltd. (OTCBB: INDX) and Trans-Orient Petroleum Ltd. (OTCBB: TEPUF) jointly announced today that exploration drilling to test the oil and gas potential of the Whakatu Prospect has commenced. The Whakatu Prospect is located in Petroleum Exploration Permit 38328, which encompasses a permit area of approximately 785,000 acres in the East Coast Basin. The Whakatu Prospect was mapped by a series of seismic surveys and the data indicates considerable reserve potential at several separate levels of the well where reservoir may be developed. The surveys also identified a number of exploration targets of similar type to Whakatu, which may be considered for future testing. The PEP 38328 permit area is immediately south of a reportedly large, third party gas discovery, made last year, which substantially upgraded the exploration merits of the lightly explored East Coast Basin. The Whakatu-1 well is being drilled by Century Drilling under the overall management of Indo-Pacific Energy, the operator of the PEP 38328 permit. The well is expected to take 3-4 weeks to reach its total depth of 6500 feet. Interests in the Whakatu-1 well and the permit are: Indo-Pacific Energy (NZ) Ltd. 40.0% Boral Energy Resources (NZ) Ltd. 37.5% Trans-Orient Petroleum (NZ) Ltd. 22.5% The information included in this news release comprises both historical and forward-looking information or statements as defined by the Private Securities Litigation Reform Act of 1995. The Companies rely on the safe harbor of this Act and caution that there can be no assurance that forward-looking statements will prove to be accurate, given that resource exploration activity is inherently a high-risk business.