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

To: Herb Duncan who wrote (10916)	5/27/1998 5:03:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / Petromin Drilling at Chamberlain PETROMIN RESOURCES LTD. ANNOUNCES INITIAL WELL ON ITS CHAMBERLAIN HORIZONTAL DRILLING PROJECT HAS BEEN SPUDDED AND IS BEING DRILLED VANCOUVER, May 27 /CNW/ - Petromin Resources Ltd. Vancouver Stock Exchange ''PTR'' Petromin Resources Ltd. (the ''Company'') announces that the initial well on its Chamberlain Horizontal Drilling Project has been spudded, and is currently being drilled. This well will enter the existing oil reserves of the Chamberlain Blairmore oil pool which has been allocated at least 3,200,000 barrels of oil in place by the Energy Utilities Board of Alberta (the ''EUB''). The Company has a 12.5% interest in this project. The Chamberlain Blairmore oil pool, located near Edmonton, Alberta, has had cumulative production of 200,000 barrels of oil to date from vertical wells. The EUB allocation of oil in place is based on data from these vertical wells. Petromin currently anticipates 4-5 horizontal wells in this drilling program. Results from the drilling and testing of this initial well will be released as they become available. ON BEHALF OF THE BOARD OF DIRECTORS ------------------------------------- Timothy S. Noble, Corporate Secretary THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. -30- For further information: Jim Clarke at (toll free) 1-877-877-5177, Email petromin@direct.ca, Internet www.stockgroup.com/ptr.html