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ARCH PETROLEUM ANNOUNCES COMPLETION OF DEVELOPMENT WELL

 FORT WORTH, Texas, April 21 /PRNewswire/ -- Arch Petroleum Inc. (NASDAQ: ARCH) announced today that the I.G. Yates No. 33, a development well in the prolific Boonesville Bend area of North Texas, had been completed in an 18 ft. interval in the Bend Conglomerate section. A company spokesman said the well flowed at daily rates of 1.8 million cubic feet of natural gas and 100 barrels of oil on a 15/64 inch choke at a flowing pressure of 1275 pounds. The spokesman added that the well had already been connected to a gas line and that it would immediately impact earnings.
 Arch has a 50 percent non-operated working interest (40 percent revenue interest) in approximately 8,000 contiguous acres (about 12.5 square miles) in Jack and Wise Counties, Texas, including the lease on which the development well is located. The Strawn, Caddo Conglomerate and Bend Conglomerate zones are presently productive on Arch's acreage.
 Arch is participating in planning a 3-D seismic survey of a 20,000- acre area which would include its leases. This study would provide more precise information in targeting additional development drilling locations in zones where some well control already exists. The 3-D seismic profile could also add insight on the potential of deeper horizons which have not been explored in the immediate area.
 Arch Petroleum Inc. is an independent oil and gas exploration and production company headquartered in Fort Worth, Texas, with interests in producing properties in Texas, New Mexico, Oklahoma, Louisiana and North Dakota. Arch holds interests in gas gathering and transmission through its subsidiaries Saginaw Pipeline Company, L.C. and Onyx Gathering Company, L.C.
 -0- 4/21/93
 /CONTACT: Randall W. Scroggins, vice president of Arch Petroleum, 817-332-9209 or 800-772-8558/
 (ARCH)


CO: Arch Petroleum Inc. ST: Texas IN: OIL SU:

LR -- NY053 -- 8674 04/21/93 11:16 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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