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Gold/Mining/Energy : Red Sea Oil Corporation (RSO) -- Ignore unavailable to you. Want to Upgrade?

To: Dav!d who wrote (30)	12/3/1997 3:30:00 PM
From: Nikole Wollerstein	Respond to of 332

Company Press Release Red Sea Oil Corp.: Oil Shows Encountered VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 3, 1997--Red Sea Oil Corp. (Alberta Stock Exchange:RSO - news) is pleased to announce that the B1-NC177 well has reached a depth of 6,750 feet. Oil shows have been encountered at the Facha (Eocene) and Upper Zelten (Paleocene) formations and logging operations are in progress. Of particular interest is a 50' zone in the Zelten formation with a porosity at 25 percent and high oil saturation. Drilling will resume following the setting of 9 5/8 inch casing. ON BEHALF OF THE BOARD ''Ian H. Lundin'', president