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

To: Kerm Yerman who wrote (11671)	7/10/1998 6:10:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Ultra Petroleum Drilling Update ULTRA PETROLEUM CORP. - FIELD UPDATE Date: 7/9/98 4:30:45 PM Stock Symbol: UP Production casing has been run to a depth of 12,085 ft. at the Stud Horse Butte 3-23 well in Jonah Field. Top of the overpressure was encountered at 9,310 ft. and logs indicate an above average Jonah Field well. Halliburton (NYSE: HAL) and Ultra are designing a completion program for this well to be initiated by month end. Halliburton, as operator for Ultra, will move the rig next to the SHB 9-24 location, which will be the second of seven wells planned for the current Halliburton/Ultra Stud Horse Butte project. In the Mesa project, Halliburton and Ultra are drilling below 6,500 ft. at the Stewart Point 3-28 well in partnership with Western Gas Resources (NYSE: WGR). This is the second of six earning wells in the Mesa Project, located on the northern plunge of the Pinedale anticline approximately 24 miles NNW of Jonah Field. During the next two weeks the following completions are planned: * A stage one frac at the Lovatt Draw well in partnership with Green River Petroleum (ASE: GRP) and Western. * A stage two Overbalanced Perf at the War Bonnet 9-23 in partnership with Arrowhead (VSE: AOW) and Western. * A stage four frac at the Lizard Head 11-28 in partnership with Colt Energy (ASE: COE) and Western. * Two fracs (stages 8 and 9) at the Mesa 15-8, in partnership with Western. All of these wells are located north of Jonah Field and were drilled through overpressured sandstones that exhibit similar characteristics to the multiple reservoir sands in the Jonah Field.