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

To: SofaSpud who wrote (10935)	5/28/1998 3:53:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITES / Newstar Resources NEWSTAR RESOURCES INC. ANNOUNCES COTTON VALLEY SEISMIC HOUSTON, TX, May 28 /CNW/ - Newstar Resources Inc. (Nasdaq: NERIF and TSE: NER) announced today that it completed the data collection portion of its 32 square mile 3-D seismic program on its 100% owned Madisonville Property, Madison County, Texas on Thursday, May 14, 1998. William Ziefle, General Manager of Newstar Energy of Texas LLC, Newstar's Gulf Coast operating division, reported: The data, which appears to be of high quality, has been forwarded to our processors and we expect to have stacked data available in the second half of June. At that time, Newstar will have the tools needed to efficiently exploit the 6500 acres of leasehold the Company controls in the Madisonville Field. Objective formations include the Georgetown, sub-Clarksville, Buda, Dexter, Lewisville, Rodessa, Sligo, Travis Peak and Cotton Valley. Newstar plans to spud a 17,600 ft. well in the third quarter to test a large structure in the Cotton Valley and higher formations. The Company wishes to advise that it will host a conference call to update investors at 8:30 a.m. Eastern Standard Time on Friday, May 29, 1998. Those who wish to participate should dial 1-888-209-3778 approximately 10 minutes prior to the conference time. Michigan-based Newstar Resources Inc. is an oil and gas exploration and production company with operations in Michigan, Ohio and Texas. The Company trades on the NASDAQ National Market System under the symbol NERIF and the Toronto Stock Exchange under the symbol NER. Certain statements in this news release regarding future expectations of reserve potential, production and drilling may be regarded as ''forward looking statements'' within the meaning of the U.S. Litigation Reform Act. They are subject to various risks, such as the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas. Actual results may vary materially. -30- For further information: Tim Richardson, Investor Relations, (416) 360-7415 or 800-363-0632; Jack Piedmonte, President, (313) 243-0719