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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: StockPro who wrote (5323)	8/13/1998 1:27:00 PM
From: Wizzer	Read Replies (1) \| Respond to of 24921

GREEN RIVER PETROLEUM INC - Activity Update [298] Canadian Market News from Market News Publishing, Tuesday, August 11, 1998 at 00:37 (Published on Monday, August 10, 1998 at 09:33) Donald A. Sharpe, President of Green River Petroleum Inc., is pleased to announce preliminary results from the first stages of the completion of the Warbonnet 13-19 and Lovatt Draw 15-8 wells cased earlier this year in the Green River Basin, Sublette County, Wyoming. The lowermost pay interval of 26 feet in the Warbonnet 13-19 well was perforated, fracture stimulated and flowed gas through casing on initial cleanup at a rate of 3.1 mmcf/d, declining over an 8 day flow period to approximately 0.3 mmcf/d. A program is pending to clean out the well and place the well on production test prior lo evaluating the uphole pay sections. Stages 1 and 2 of a six-stage frac program have been successfully completed on the Lovatt Draw 15-8 well. The combined pay interval in Stages 1 and 2 is approximately 170 feet out of more than 500 feel of net pay indicated on logs. Without tubing in the well, an initial gas rate was achieved of 1.4 mmcf/d, declining over a 5 day flow period to approximately 0.47 mmcf/d at a flowing casing pressure of approximately 600 psi. Plans are in place to complete the clean up of the well bore and to equip the well and tie the well in lo production facilities. Green River has a 37.5% interest in the Lovatt Draw 15-8 well and a 46% interest in approximately 10,500 acres in the Lovatt Draw area. The company views these initial results as encouraging, and awaits extended production testing and an early cash flow stream. Green River is also pleased to announce that it has purchased, primarily for Strategic reasons, a 0.5% royalty interest on 2560 acres of land to the southwest and contiguous with the Jonah Field in the Green River Basin. The Jonah Field has recently been extended on to these lands by the drilling of the Amoco Corona 1-14 well and a second well is planned. TEL: 1-888-899-8222 Donald A. Sharpe, President TEL: (604) 602-9001 FAX: (604) 602-9024 E-mail: info@grnriver.com (c) 1998 Market News Publishing Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041.