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Gold/Mining/Energy : Ultra Petroleum (UPL) -- Ignore unavailable to you. Want to Upgrade?

To: upultra who wrote (4594)	4/4/2000 6:05:00 PM
From: debra vogt	Read Replies (1) \| Respond to of 4851

NEWS RELEASE April 4, 2000 ULTRA PETROLEUM SIGNS NEW SENIOR CREDIT FACILITY Houston, TX - Ultra Petroleum (TSE-UP) today announced a new U.S. $40 million senior credit facility with Bank One, Texas, N.A. that provides for an initial borrowing base of U.S. $18 million, up from $12 million under Ultra's previous credit facility. The new facility will reduce Ultra's cost of borrowing by at least 200 basis points. "We are extremely excited to have Bank One as a partner in our growth. They have years of energy lending experience and we are pleased that they've recognized both the dramatic improvement in our financial situation and the potential for growth in our asset base," stated Michael D. Watford, Chairman, President and CEO. For more information contact: David Russell Investor Relations (281) 876-0120 Extension 302