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BOW VALLEY INDUSTRIES ANNOUNCES OPERATORSHIP OF U.K. LICENSE P683

 BOW VALLEY INDUSTRIES ANNOUNCES OPERATORSHIP OF U.K. LICENSE P683
 CALGARY, Nov. 28 /PRNewswire/ -- Bow Valley Industries Ltd. (AMEX: BVI) announced today that the U.K. Department of Energy has approved the transfer of operatorship of U.K. License P683 to Bow Valley Petroleum (U.K.) Limited, a wholly-owned subsidiary of the company.
 License P683, which covers Block 43/22 in the Southern Gas Basin of the United Kingdom sector of the North Sea, was awarded to Bow Valley Petroleum (U.K.) Limited in July 1989 in the 11th U.K. round of licensing. The former operator, Kelt U.K. Limited, has recently assigned part of its interest to Purbeck Exploration Limited. The interests in the license are now:
 Bow Valley Petroleum (U.K.) Limited 28 percent
 Purbeck Exploration Limited 25 percent
 Murphy Petroleum Limited + 14 percent
 Ocean Exploration Co. Limited + 14 percent
 The Norweigan Oil Company DNO (U.K.) Limited 14 percent
 Kelt U.K. Limited 5 percent
 (+ wholly-owned subsidiaries of Murphy Oil Corporation)
 The block, consisting of 59,728 gross acres, or 16,724 acres net to Bow


Valley, is located in an area of high exploration interest and this appointment as operator strengthens the company's position in the Southern Gas Basin.
 -0- 11/28/91
 /CONTACT: E.J. Lambert, manager-investor relations and public affairs of Bow Valley Industries, 403-261-6160 or; W.J. Pyke, exploration manager of Bow Valley Petroleum (U.K.) Limited, (London) 071-839-8744/
 (BVI) CO: Bow Valley Industries Ltd. ST: Alberta IN: OIL SU:


JT -- NY009 -- 7979 11/28/91 13:27 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 28, 1991
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