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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (7991)	12/18/1997 6:57:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Alterra Drilling Natural Gas Well CDN SYMBOL: ALRI DECEMBER 17, 1997 BRIDGEWATER, NOVA SCOTIA-- /T/ - shares issued and outstanding: 7.523.518 - fully diluted: 11.169.287 /T/ Alterra Resources Inc. is pleased to report that a drilling location has been built and drilling will commence ("spud"), today, at the Lawson Unit in Sumner Co. Kansas (reference press release November 27, 1997) Concorde Resources Corp. (the operator) have contracted MacPherson Drilling of Kansas to spud the well at: location center of south east, of the north east of section 11, range 2-east, township 35- south. The target depth of 1,600 feet to the Severy sands formation will be reached in four to six days. This is the first in a series of three wells to be drilled at the Lawson Unit. An independent Engineering evaluation (Icon Engineering Inc. Nov. 1997) supports separate evaluations conducted by both management and Concorde Resources Corp. that the Severy zone, at the Lawson Unit, has the potential to produce in excess of 300 mmcf of natural gas over the extended life of a well. Alterra further updates: business in Trinidad is proceeding on schedule. More specifically, a meeting held November 28, 1997 between Alterra's operating committee and the Permanent Secretary, a senior official of the Ministry of Energy and Energy Industries, confirms that the company's technical and financial proposal to drill at the South Erin lands is expected to receive final signing by the Minister this month. Jasmin Oil & Gas Ltd., Alterra's subsidiary there, expect to sign a final contract with Petrotrin shortly thereafter. The South Erin lands are estimated to have reserves of 5.360 million barrels of oil (reference press release Sept. 15, 1997).