Amalgamated's Cave Gulch Update; Wind River Basin, Natrona County, Wyoming.DENVER--(BUSINESS WIRE)--Feb. 26, 1998--Amalgamated Explorations, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AXPL) reported today the Cave Gulch Federal No. 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 PSI - Portable Scheme Interpreter . 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 a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. owns a 1.5% working interest in the well. Prior to drilling, a survey was conducted by Amalgamated and MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. 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 hydrocarbon (hī'drōkär`bən), any organic compound composed solely of the elements hydrogen and carbon. The hydrocarbons differ both in the total number of carbon and hydrogen atoms in their molecules and in the proportion of hydrogen 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 No. 3-29 location, projected to 21,000 feet, is still underway. Amalgamated holds a 0.726% working interest in this well. In honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft. 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 detector: see particle detector. . Amalgamated's properties are located primarily in the Rocky Mountain region The Rocky Mountain Region is a floristic region within the Holarctic Kingdom in western North America (Canada and the United States) delineated by Armen Takhtajan and Robert F. Thorne. of Wyoming, Nevada, Montana, Colorado and Utah. For additional information about Amalgamated Explorations and MSP Technologies, please visit our Web site at http://www.findoil.com or phone Jon Vaux at 1-888-999-8787. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding Amalgamated Explorations Inc. and MSP Technologies future plans and expected performance based on assumptions we believe to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from them statements, including, without limitation, fluctuations in the price of crude oil and natural gas, the success rate of exploration efforts and the time lines of development activities, particularly in the Wind River Basin and as well as other risk factors described from time to time in the Company's documents. CONTACT: Amalgamated Exploration Inc. Jon Vaux, 888/999-8787 http://www.findoil.com |
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