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Microcap & Penny Stocks : Kelly Oil (KOGC) -- Ignore unavailable to you. Want to Upgrade?

To: wolfdog2 who wrote (31)	10/20/1998 5:21:00 PM
From: Alegzis	Respond to of 50

Kelley Announces Production From Its North Louisiana Cotton Valley Discoveries HOUSTON--(BUSINESS WIRE)--Oct. 6, 1998--KELLEY OIL & GAS CORPORATION (Nasdaq NM:KOGC) announced today the successful completion of the Don Mason "B" No. 2 well and the Mary Merritt No. 1 well in North Louisiana. The Mason "B" No. 2 well is Kelley's first Cotton Valley completion in the Ada Field in Bienville Parish. The Merritt No. 1 well is the discovery well for the Cotton Valley formation in West Bryceland Field in Bienville Parish. Kelley owns a 32.3 percent working interest in the Mason "B" No. 2 well and a 39.5 percent working interest in the Merritt No. 1 well. The Mason "B" No. 2 well encountered approximately 300 net feet of indicated pay which, after fracture stimulation, is currently producing to sales at a daily rate of 3.6 million cubic feet equivalent (3.3 million cubic feet of gas and 42 barrels of condensate), at a flowing tubing pressure of 1,100 pounds per square inch on a 36/64ths-inch choke. The Merritt No. 1 well encountered approximately 135 net feet of indicated pay which, after fracture stimulation, is currently producing to sales at a daily rate of 2.8 million cubic feet equivalent (2.7 million cubic feet of gas and 15 barrels of condensate), at a flowing tubing pressure of 1,450 pounds per square inch on a 22/64ths-inch choke. Kelley is continuing to incorporate the results of its recent Cotton Valley drilling successes into its geological and geophysical data bases in order to identify additional Cotton Valley drilling opportunities on Kelley's acreage in the Vacherie Dome area. Kelley Oil & Gas Corporation is engaged in the development, exploration, acquisition and production of oil and natural gas. Natural gas represents about 95% of the Company's equivalent production and proved reserves. Kelley Oil & Gas Corporation common stock and preferred stock are traded on the NASDAQ National Market under the symbols KOGC and KOGCP. Company information is available on the World Wide Web at http:/www.kelleyoil.com.

To: wolfdog2 who wrote (31)	10/20/1998 5:27:00 PM
From: Alegzis	Read Replies (1) \| Respond to of 50

Kelley and Williams Announce Production From South Louisiana Discoveries HOUSTON--(BUSINESS WIRE)--Oct. 19, 1998--KELLEY OIL & GAS CORPORATION (Nasdaq NM: KOGC) and Williams (NYSE: WMB) announced today the successful completion of the Goldsby No. 3well, a Realty Sand discovery in the Ouiski Bayou Field of Terrebonne Parish, Louisiana. Kelley and Williams each own a 50 percent working interest in the well. The well encountered in excess of 26 net feet of normally pressured hydrocarbon bearing sandstone at a depth below 11,280 feet. The well is currently producing to sales at a daily rate of 5.2 million cubic feet equivalent (4.6 million cubic feet of gas and 100 barrels of condensate), at a flowing tubing pressure of 3,740 pounds per square inch on an 11/64ths-inch choke. The upper zone in the Wylie Heirs No. 12 well, which was previously announced, has now been unitized and it is currently producing 11.1 million cubic feet of gas at a flowing tubing pressure of 3,250pounds per square inch on a 21/64ths-inch choke. Kelley and Williams each own 50% working interest in the well and are continuing to incorporate the results of their recent drilling program, including the successful drilling of the Goldsby No. 3 and the previously announced Wylie Heirs No. 12 well, into their 125-square mile 3-D seismic survey in Terrebonne Parish, Louisiana to identify additional leads and prospects.