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

To: SofaSpud who wrote (11318)	6/19/1998 3:52:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Search Energy Drilling Update SEARCH ENERGY CORP. CALGARY, June 17 /CNW/ - SEARCH ENERGY CORP. (TSE - ''SGY'') is pleased to announce recent drilling and production results in the Gainsborough area, southwestern Manitoba. Search operates this project with a 50 percent working interest. Since May 1, 1998, Search has drilled three horizontal wells in the Gainsborough area, two of which have been completed for production. The 13-6/10-6-3-29 W1M well was rig released May 19, 1998 and completed for production May 28, 1998. This well is being produced at a rate of 390 Bopd. The 12-6/7-6-3-29 W1M well was rig released May 28, 1998 and completed for production June 3, 1998. This well is being produced at 345 Bopd. Current total production from all the wells in this project is 1100 Bopd (550 net) compared to 145 Bopd (72 net) at December 31, 1997. Search's attempt to extend this pool to the east with its 12-5/14-5-3-29 W1M well appears to be successful. The well encountered good quality reservoir and is scheduled for completion operations in the next few days. A successful completion of this well will confirm between four and six additional locations on Search-operated lands. A production battery and water disposal facility is in the planning phase and scheduled for completion of construction in August 1998. Search is currently producing 2200 Boepd comprised of 6 MMcfgd and 1600 Bopd of light crude oil and natural gas liquids. Search is a growth oriented Canadian junior oil and gas company engaged in exploration, acquisition and production of crude oil and natural gas reserves in Alberta, Saskatchewan and Manitoba.