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Gold/Mining/Energy : HEDGE CO. HEG,A -- Ignore unavailable to you. Want to Upgrade?

To: Kent C. who wrote (4)	12/15/1997 11:52:00 AM
From: Kent C.	Respond to of 21

Dec. 15 - HEG.ASE - HEGCO COMPLETES INITIAL PHASE OF NEMAHA NO. 4 WELL - ADDITIONAL DRILLING PROGRESSES From: Canada NewsWire EDMOND, Ok., Dec. 15 /CNW/ - The President and Chairman of HEGCO Canada, Inc., Douglas C. Hewitt, announced today that HEGCO has completed the initial phase of drilling on the Nemaha No. 4 well. The Company has also begun preparations for drilling in the next target area. Drilling is expected to begin on this site shortly. As drilling begins at the next well site, HEGCO will proceed with the necessary testing and evaluations of the Nemaha No. 4. Production testing of the Nemaha No. 2 continues to progress at a restricted production range of 50 - 80 bbls per day. This activity represents the execution of previously disclosed objectives. HEGCO expects to put on multiple productive zones through its multi-well program in the Three Sands Field. HEGCO Canada, Inc., is an Alberta, Canada corporation traded on the Alberta Stock Exchange under the symbol ''HEG''. The company is an oil and gas production, servicing and drilling company operating in Oklahoma and Arkansas. On Behalf of the Board: Douglas C. Hewitt, Director, Chairman The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. For further information: Kelly A. Boatright, Investor Relations: (800) 492-9572, Fax: (704) 588-6007