American Resources of Delaware, Inc. Announces Preliminary Gulf of Mexico Development Results.

LEXINGTON, Ky.--(BUSINESS WIRE)--Oct. 31, 1996--American Resources of Delaware Delaware, state, United States
Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). , Inc. (NASDAQ NASDAQ
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GASS Generic Application Simulation System (Boeing Rotocraft) ) announces today that since its acquisition in July of this year of an interest in the South Timbalier 148 Block, the Company has expended ex·pend
tr.v. ex·pend·ed, ex·pend·ing, ex·pends
1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend.

2. approximately $4.6 million towards the development of the Block. In conjunction with the joint interest owner and operator of the Block, Newfield Exploration, a second and third production platform were installed in the Company's area of interest and are now in operation. The platforms were installed to accommodate the production developed as a result of the completion of the wells acquired. Seven of the wells purchased are currently producing, and two more should be on line by mid-November, 1996.

The Company also announces that in addition to the wells acquired, a new well has been successfully drilled and completed on the Block and production has commenced. As a result of the successful development, an additional location has been identified and is currently being scheduled for drilling.

Increasing production throughout the Fourth Quarter of 1996 will affect the results for the Quarter. A full three months of production from the wells should have a significant impact on the results for the First Quarter of 1997.

CONTACT: American Resources of Delaware, Inc.

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Publication:	Business Wire
Date:	Oct 31, 1996
Words:	215
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