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ALEXANDER ENERGY ANNOUNCES SUCCESSFUL HORIZONTAL COMPLETION

 OKLAHOMA CITY, June 23 /PRNewswire/ -- Alexander Energy Corporation (NASDAQ: AEOK) today announced the successful horizontal completion of the Nan No. 4, Fayette County, Texas. Completed in the Austin Chalk formation, the well in a 24-hour controlled test produced into the sales pipeline 1,074 barrels of oil and 3.4 million cubic feet of natural gas on 24/64 inch choke with 1,550 psi flowing tubing pressure. The Nan No. 4, operated by Weber Energy Corp. of Dallas was drilled on the Dusek Prospect. This is the third successful completion, including the Dusek No. 2H and No. 3H wells, of a five-well play in the Austin Chalk formation in Fayette County, Texas. Alexander Energy and its partner own 25 percent of this latest well. Currently the drilling location is being prepared for spudding of the Dusek No. 4H, the fourth well on the Dusek Prospect, with the fifth well planned for drilling prior to 1993 year end. Alexander Energy serves as operator of the Dusek No. 2H, No. 3H, No. 4H and will operate the proposed fifth well. The company and its partner own 100 percent of the working interest in the four Dusek wells.
 Alexander Energy Corporation is an oil and gas exploration and production company based in Oklahoma City. Its primary exploration activities are in the Mid-Continent region of the United States. The company's common shares are traded in the NASDAQ National Market System under the symbol AEOK.
 -0- 6/23/93
 /CONTACT: James S. Wilson, vice president of Alexander Energy Corporation, 405-478-8686/
 (AEOK)


CO: Alexander Energy Corporation ST: Oklahoma, Texas IN: OIL SU:

MP -- NY062 -- 5109 06/23/93 15:29 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:276
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