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To: Mel Viticus who wrote (218)	5/14/1998 2:53:00 PM
From: DR. MEADE	Read Replies (1) \| Respond to of 663

\| ------ \| Respond \| To: jim ratliff (188 ) From: Pat Jacks Thursday, May 14 1998 2:37PM ET Reply # of 189 Loch Harris' PetroTech Discovery in Old Field Spurs New Exploration and Production PR Newswire, Thursday, May 14, 1998 at 13:18 AUSTIN, Texas, May 14 /PRNewswire/ -- Nineteen wells have been scheduled for reentry and completion in Oklahoma holdings of Austin, Texas-based PetroTech Resources International, Inc. (PetroTech), wholly-owned subsidiary of Loch Harris, Inc. (BB: LOCH). Loch President and CEO Rodney Boone said the move comes after nearly a year of extensive geology and reservoir engineering on nearly 1,800 acres the company acquired last May. "Four wells scheduled to be in production by the end of this month are expected to add 40 to 50 barrels of oil per day and 500,000 cubic feet of gas daily," he said. "PetroTech studies of existing and new data indicates two undrilled structural 'highs' in the Booch and the Wilcox," he said. "We suspect the Booch to be more than 250 feet thick at the top, draping approximately 300 acres in addition to the Wilcox high." PetroTech expects to spend $1 million to drill at least nine new wells beginning in the second or third quarter and throughout 1999 to confirm the extent of the discovery. Revenue from the production increase added to that of reentry and recompletion of 19 existing wells is expected to exceed $13 million over the next four years according to Loch Harris CFO Mark Baker. When Loch Harris, Inc. announced the acquisition and formation of PetroTech last year, the company estimated that the move would increase its assets by $30 million. "That evaluation should increase sharply when this operation is completed," Baker said. "Our excitement is because of the rarity of discovering such potential in an old field," said Matthew Harris, executive vp/operations and acquisitions. "Most of these wells can be recompleted and placed back in production for minimal expense and exposure. And if the Wilcox is as high as we believe it to be, this would be a new field discovery." The nearest Wilcox well is more than a mile away, and Harris estimates there is room to drill about 30 new wells on the PetroTech leases. Loch Harris, Inc. is a technology incubator that acquires businesses, technologies and patents that it determines may have potential for growth and possible spin-off. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. SOURCE Loch Harris, Inc. -0- 05/14/98 /CONTACT: Mark Baker of Loch Harris, Inc., 512-328-7808/ \| Previous \| ------ \| Respond \| Quotes - News - Discussion - $5 and UnderView SubjectMarksBookmark this Subject LOCH HARRIS INC NEW (OTC: LOCH)Time: 2:21PMLast Trade 0.095Change - 0.005 (-5.00%)Bid 0.091Ask 0.097Volume 0617,8000Prev.Close 0.100Open 0.100Day Range 0.090 - 0.100Last Tick 0Down0Avg.Volume 0853,5000 Discussion \| People \| MetaCra