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Gold/Mining/Energy : Parkcrest Explorations Ltd. - Discovery 4,116 BPD -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (49)	12/18/1997 4:16:00 AM
From: leaf	Respond to of 94

Thank You Ed! Leaf

To: Ed Ajootian who wrote (49)	12/18/1997 12:23:00 PM
From: Bob (Hijacked)	Respond to of 94

Ed: Old news just released: Mr. Robert Lipsett reports: Parkcrest Exploration announced today that Harken Energy, the operator of the Alcaravan association contract in Colombia, commenced drilling operations on December 14 on the Estero No. 3 well on the Palo Blanco prospect. This well will help delineate the size of the Palo Blanco field discovered earlier this year with the Estero No. 1 well. The Estero No. 3 well is expected to take approximately 30 to 45 days to drill and complete. In addition to testing the Ubaque formation, which produced at rates in excess of 4000 bopd in the Estero No. 1 well, production testing of the uphole Mirador and Guadalupe formations will also be performed. Parkcrest owns a 25% beneficial interest in the Estero No. 3 well and the Palo Blanco field. Parkcrest Exploration explores for oil and gas reserves internationally. Certain statements in this news release regarding future expectations and plans for international oil and gas exploration and development may be regarded as "forward looking statements" within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as the inherent uncertainties in interpreting engineering data related to underground accumulations of oil and gas, timing and capital availability. Actual results may vary materially.