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To: Kerm Yerman who wrote (5497)	10/19/1998 9:57:00 AM
From: Kerm Yerman	Respond to of 24892

Barrett Resources Discovery / First Finding Amalgamated Explorations Inc. OTC. BB: AXPL Standard and Poor's Listed June 1996 Phone 1-888-999-8787 Shares Authorized: 50,000,000 Shares Outstanding: 3,650,079 Quote qs.secapl.com SI Site www4.techstocks.com Message 1229668 Amalgamated's Wyoming Properties The Company has structured its underlying operations to maximize participation by financial and industry partners alike. Operations in the Cave Gulch and Boone Dome Fields are conducted through limited liability companies which allow actual participation by way of membership units which provide for a pro-rata share in working interest proceeds from the production and sale of oil and gas. Limited liability companies are tax-advantaged in that the active income received is taxed as though a partnership at the tax bracket of the particular member (no double taxation), losses can be deducted against other active income, and yet, a member's liability is limited to that of their actual contribution. The Cave Gulch Field. In August 1994, Christian "Ted" F. Murer, now President and C.E.O. of Amalgamated, teamed with joint venture partner Barrett Resources and drilled the Cave Gulch Federal Unit #l natural gas well in Fremon County, Wyoming. As of May 22, 1995, 246 feet of 481 feet of pay was open to production at 10.2 million cubic feet of gas per day ("MMCF"). The well was selected for the "Best Of The Rockies" award for 1994 by Hart's Oil And Gas World Magazine. The award was judged by members of the Independent Petroleum Association for a superior well that set a trend for oil and gas companies to follow. To date, 10 wells have been drilled in the Cave Gulch field. Five of the wells are producing approximately 54 MMCF per day ($50,000 per day). Two wells are being tested and three are awaiting completion by Barrett Resources. The # 8 development well on Cave Gulch field tested a useful flow of 20.3 MMCF. Amalgamated is currently raising capital for drilling additional wells on the Cave Gulch field where it holds a 640 acre lease, and nearby Boone Dome field for which it holds several leases totaling 2,600 acres. The Boone Dome Project. Along the northeastern margin of the Wind River Basin in Wyoming, the older rocks of the Casper Arch have thrust out over the younger sedimentary rocks in the basin. The Cave Gulch Unit now being developed by Barrett Resources Corp. is a 440 acre block in Township 37 North, Range 86 West. The Boone Dome project area is some 12 miles southeast in Township 35 North, Range 85 West. At present, Amalgamated has approximately 2,600 acres on the Boone Dome project area and is competing for additional acreage with other operators such as Barrett Resources, Prima Energy and Hunt Oil Company. Hunt Oil is drilling nearby and to the northeast. The Company believes the potential for development of significant oil and gas reserves at depth in the Boone Dome project area is very promising, especially in light of the fact that the Company will be able to evaluate the geologic reports and results of Barrett Resources and Hunt Oil in determining which areas to drill. Map Of Area; findoil.com Prior News Release Denver, CO., Feb. 26, 1998--Amalgamated Explorations, Inc. ( OTC, BB:AXPL) reported today the Cave Gulch Federal #1-29 deep test well in the Wind River Basin operated by Barrett Resources Corporation of Denver, Colorado has been connected to a sales line with a production rate of approximately 40 million cubic feet of natural gas per day with flowing pressures of approximately 10,900 psi. The operator is continuing with expert well and pressure control personnel on location to assist in the pressure control efforts. The production depth approximately 18,175 feet and Amalgamated owns a 1.5% working interest in the well. Prior to drilling, a survey was conducted by Amalgamated and MSP Technologies at the drilling location utilizing the Companies new Electrotelluric technology. This internal, unreported, Electrotelluric survey was accurate in showing the approximate depths of the hydrocarbon bearing formations. The Electrotelluric survey also indicated the possibility of a high pressure formation at the approximate depths at which the well attempted to blow out. Drilling of the ultra-deep test to the Madison formation at the Cave Gulch #3-29 location, projected to 21,000 feet, is still underway. Amalgamated holds a 0.726% working interest in this well. In honor of the "tight hole" status of this well, information is being held confidential at the request of the operator, Barrett Resources Corporation. Currently, four additional deep test wells are being permitted by Barrett Resources in the Cave Gulch field and Amalgamated will have 1.5% and 3.6% working interest in two of these wells. Amalgamated Explorations Inc. is a Denver-based independent natural gas, oil, and mineral exploration and production company. Amalgamated also owns MSP Technologies and its new Electrotelluric hydrocarbon depth detector. Amalgamated's properties are located primarily in the Rocky Mountain region of Wyoming, Nevada, Montana, Colorado and Utah.

To: Kerm Yerman who wrote (5497)	10/19/1998 10:40:00 AM
From: Kerm Yerman	Respond to of 24892

Barrett Resources Discovery / Second Finding BARRETT RESOURCES TESTS TENSLEEP FORMATION AT CAVE GULCH WELL DENVER, Oct. 7 /PRNewswire/ -- Barrett Resources Corporation (NYSE: BRR) has announced that the Tensleep Formation in the Cave Gulch 3-29 well, located in the Wind River Basin, Wyoming, is too tight to allow commercial production. Although the Formation did contain natural gas with relatively low amounts of the contaminant H2S (1-4%), it was determined that the Tensleep would not be capable of producing in commercial quantities of gas. The Cave Gulch 3-29 will now be completed in the Muddy Formation as a 320 acre offset to the Cave Gulch 1-29, a well that was producing at a 45,000 MCF per day rate prior to casing failure. Barrett is the operator and owns an approximate 85 percent working interest in the Muddy Formation of the Cave Gulch 3-29 and plans to have the completion made and the well producing to sales from the Muddy Formation by November 1, 1998. Barrett Resources is a Denver-based independent natural gas and oil exploration and production company that is also involved in gas gathering, marketing and trading activities. Barrett's properties are focused primarily in the Rocky Mountain region of Colorado, Wyoming and Utah, the Mid-Continent area of Kansas, Oklahoma, New Mexico and Texas, and the Gulf of Mexico region of offshore Texas and Louisiana. For additional information about Barrett, please visit our Web site at www.brr.com. From 1997 Annual Report Rocky Mountain Region Wind River Basin Proved Reserves (Bcfe)118 Production (MMcfe) 20,084 Gross Acreage 134,832 Net Acreage 77,870 Operated Wells 33 Non-Operated Wells 49 Strategically, Barrett directs about 80% of its annual capital budget toward low risk opportunities that support its growth profile. The remaining 20% is reserved for higher risk, high potential "company-makers". In 1994, Barrett discovered such a "company-maker", the Cave Gulch Field in the Wind River Basin. Referred to by experts as the most significant natural gas discovery in the Rockies in the past ten years, Cave Gulch has been a veritable "home run" for the Company. Since the discovery of Cave Gulch, the Company has progressively developed the shallow Fort Union and Lance Formations and extended production to deep pay zones between 17,000 and 19,000 feet in the Frontier and Muddy Formations. The Company is currently drilling a deeper in-field wildcat to 21,300 feet to test the Ultra Deep Madison Formation. During 1997, the Company successfully completed the Cave Gulch #16, a natural gas producer in the lower Cretaceous Age Third Frontier Sandstone. This discovery further confirmed the presence of a Deep structure that may hold significant reserves that can be developed over the next few years. The Cave Gulch Federal #1-29 LAK, a deep development well, spud in early September. While drilling to a proposed depth of 18,625 feet, the well began flowing gas at a depth of 18,175 feet. The Company connected the well to a pipeline and began producing the well at a rate of 40 MMcfd. The rate was later reduced to 30 MMcfd. Once pressures decline, the Company will consider drilling the well to the proposed total depth. In addition to drilling new wells, two factors increased the 1997 Cave Gulch production from 50 to 82 MMcfd net to the Company's working interest. An upgrade to the field's natural gas gathering system and two main pipeline expansions, CIG and KN's Pony Express, boosted takeaway capacity. New production resulting from 1998 drilling will be serviced by these upgrades. The Company has accumulated an interest in over 100,000 gross acres along the Owl Creek Thrust trend. Barrett continues to evaluate additional exploration prospects along this trend in an effort to duplicate its Cave Gulch success. In July 1997, the Company entered into a definitive "Exploration and Area of Mutual Interest Agreement" with an industry partner to explore for natural gas along the Owl Creek Thrust.