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To: MoneyMade who wrote (5233)	6/20/1998 10:38:00 PM
From: Logistics	Respond to of 8798

ABRG release dated June 22, 1998 on the website before it hits the wires as follows: THE BEAUFORT SEA PROJECT VANCOUVER, B.C. CANADA - JUNE 22, 1998 - publicly traded AMBRA RESOURCES GROUP INC. symbol ABRG.BB would like to announce: Ambra Resources Group Inc. acquired a 3.745% working interest in the Itiyok I-27 Well, Beaufort Sea, Canada. Ambra refers to this as the Beaufort Sea project. Imperial Oil Resources (Esso) drilled this Well at a total cost of over $80 Million Dollars. During 1982 and early 1983, a consortium of companies participated in the drilling, casing and testing of the well Esso PEX Home et al Itiyok I-27 in the Beaufort Sea, Canada. Itiyok commenced drilling November 5, 1982, reaching a total depth of 12,980 feet K.B. February 15, 1983. Subsequent to setting casing, seventeen (17) through-casing drill stem tests and two (2) wireline tests were conducted over eleven (11) zones between the depths of 4,821 feet K.B. and 7,703 feet K.B. The zones of greatest interest are summarized as follows:ÿ ÿ TEST INTERVAL FEET K.B. FLUID TYPE TEST DURATION HOURS ESTIMATED DAILY RATE ÿ 4821 - 4854 GAS 2.6 22.1 MMscf 5269 - 5289 GAS 0.33 16.7 MMscf 5643 - 5652 & 5675 - 5688 ÿ GAS ÿ 3.2 ÿ 10.7 MMscf 5939 - 5967 Oil - 23* API 16.1 2,096 STBO 6431 - 6454 Oil - 21* API Gas 18.8 1,150 STBO 7.4 MMscf 7696 - 7702 Oil - 22* API Gas 21.1 2,498 STBO A review by Citadel Engineering Ltd. of Calgary Alberta of the Well Data and Geological Prognosis indicates that a 640 acre area would contains the following: A. Proven Recoverable Gas Reserves of 108 Bscf and Proven Recoverable Oil Reserves of 8,976 MSTB. (a) Ambra's Working Interest Net Reserves are 4.04 Bscf and 336 MSTB. 1.Seismic data indicates a structure closure of approximately 40 (square) KM with a gross potential reserve of 1.16 TCF and 160 MMSTB. (b) Ambra's Working Interest Net Reserves are 34 Bscf and 4.7 MMSTB. C. The lands in which Ambra owns an interest comprise of 21.54 (square) Km containing gross potential reserves of 625 Bscf of gas and 86 MMSTB of oil. (c) Ambra's Working Interest Net Reserves are 23.4 Bscf of gas and 3.2 MMSTB of oil. Other partners in the Beaufort Sea Project are : AEC East Amoco Canada Resources Ltd. BRL Enterprises Inc Canadian Forest Oil Ltd. Cannat Resources Inc. Gulf Canada Resources Limited Husky Oil Operations Ltd. Imperial Oil Resources Ventures Limited Mosbacher Operating Ltd. Pembina Resources Shell Canada Limited Talisman Energy Inc. Ambra Resources Group Inc Canalands Resouces Corporation Chevron Canada Resources Home Oil Company Limited Imperial Oil Resources Limited Mobil Oil Canada Properties Numac Energy Inc. Petro-Canada Spitzee Resources Ltd. Union Pacific Resources Inc. 677862 Alberta Ltd. ÿ ÿ ÿ ÿ ÿ ÿ ÿ ÿ The Beaufort Sea Project is a very valuable Gas & Oil Asset and should not be underestimated as to it's future potential and present benefit to Ambra Resources Group Inc. We have issued this review so that shareholders would have a better understanding of this valuable asset. Ambra would like to thank all the shareholders for their support. If you have any questions, please call toll free at 1(800)698-3377, or visit our Web Site: www.ambraresources.com By the Board of Directors AMBRA RESOURCES GROUP INC. John M. Hickey President