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

To: Herb Duncan who wrote (11108)	6/5/1998 12:02:00 PM
From: SofaSpud	Read Replies (4) \| Respond to of 15196

FIELD ACTIVITIES / Seven Seas El Segundo SEVEN SEAS REACHES TOTAL DEPTH ON EL SEGUNDO 6-E WELL HOUSTON, June 5 /CNW/ -- Seven Seas Petroleum Inc. (Amex: SEV; Toronto: SVS.U) announced today it successfully completed drilling operations on the El Segundo No. 6-E well, the eighth well drilled on the Emerald Mountain project in Colombia, South America. The El Segundo No. 6-E well is located approximately 9 kilometers south from the surface location of the previously announced El Segundo No. 1 discovery well and reached a total depth from the surface of 8,713 feet. Preliminary analyses while drilling including the observation of highly fractured core samples and significant shows of oil and gas indicate the well should be quite productive. Over 300 feet of the Upper Cretaceous Cimarrona formation was encountered. There was no apparent oil-water contact in the well. The Company also announced that the Tres Pasos No. 4-E well, located approximately 5 kilometers northwest of the El Segundo No. 1 discovery well, is drilling ahead at a depth of approximately 3,100 feet. GHK Company Colombia, a wholly owned subsidiary of Seven Seas, is the operator of the Emerald Mountain project. Seven Seas holds a 57.7% interest in the Emerald Mountain project which encompasses the Dindal and Rio Seco Blocks. Seven Seas Petroleum Inc. is an international oil and gas exploration and production company. For more information, contact Herbert C. Williamson III, Chief Financial Officer at 713-622-8218. Statements regarding anticipated oil and gas production and other oil and gas operating activities, including the costs and timing of those activities, are "forward looking statements" within the meaning of the Securities Litigation Reform Act. The statements involve risks that could significantly impact Seven Seas Petroleum Inc. These risks include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services and government regulation and foreign political risks, as well as other risks discussed in detail in the Seven Seas Petroleum Inc.'s filings with the U.S. Securities and Exchange Commission. -30- For further information: Herbert C. Williamson III of Seven Seas Petroleum, Inc., 713-622-8218