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

To: SofaSpud who wrote (11633)	7/7/1998 10:20:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / T & H Resources Ltd. Drilling Update T & H RESOURCES LTD. - DRILLING PROGRESS AT SOUTH FORT STOCKTON Listed: TSE Symbol: THE Shares Issued: 30,144,210 TORONTO, July 7 /CNW/ - T & H Resources Ltd. (''T&H'') is pleased to announce that the Winfield Ranch 17 No. 1-E Well, on the South Fort Stockton prospect in Pecos County, has reached the 20,260 foot level and is currently drilling ahead. T & H is also pleased to announce that gas flares have been encountered while drilling between 19,500 feet and current depth. The gas shows correspond to a zone in the analog well indicating that the Winfield well is now 152 feet high. The Midland, Texas based-operator, Baytech, Inc., is very encouraged by the drilling progress and anticipates setting intermediate casing approximately 10 days from now at around 21,000 feet. T & H is also enthusiastic about the drilling progress and looks forward to reaching the primary drilling objective which is the Ellenburger formation at 26,000 feet. T & H has paid 20% of the turnkey cost of drilling the initial well to earn a 20% interest in the well and a 15% interest in the contract lands. T & H's interest in the initial well is subject to Baytech's 25% back-in after payout. T&H will be closing its rights issue on July 16th, 1998. This issue was made to shareholders of record on June 24th, 1998. One right was issued for each share held on the record date with six rights entitling the rights holder to purchase one unit consisting of a share and a half share purchase warrant for $0.18.