Berkley Petroleum Updates Activities at Carstairs, Southeast Saskatchewan and NEBC.CALGARY, Alberta--(BUSINESS WIRE)--July 2, 1998-- Berkley Petroleum Co (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BKP BKP Bleached Kraft Pulp BKP Buchele & Kremer Produktivitätsberatung GmbH BKP Backup File BKP Breakpoint .) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :BKP.) is pleased to update recent activities at Carstairs, southeast Saskatchewan and in northeast British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . At Carstairs, Alberta, the company has received permission from the EUB EUB Energy and Utilities Board (Alberta, Canada) EUB EU–Büro (Bundesministerium für Bildung und Forschung; German ministry of Science) EUB Electric Upright Bass EUB European Union Bank EUB Essential User Bypass , effective July 1, 1998, to increase production from the Carstairs Elkton G pool under terms of a revised good production practice application (GPP GPP Government Performance Project GPP General Purpose Processor GPP General Physical Preparedness GPP Gambian People's Party GPP Good Pharmacy Practice GPP Gross Primary Productivity GPP Green Procurement Program GPP Generic Packetized Protocol ). The company is anticipating net production of approximately 6500 Boepd during the second half of the year from the G pool. In southeast Saskatchewan, net production has been increased to approximately 5325 boepd. This has been achieved through Ordovician waterflood optimization and production enhancements at Midale, initial Midale Winnipeg Sand production, and start-ups at Talmage and Harthaven. Significant further production additions are anticipated in the second half of the year from the Winnipeg Sand at Midale, the Midale C pool waterflood and further development of regional Ordovician Red River discoveries. At Adsett, in northeast British Columbia, the company has completed the acquisition of producing, non-producing and exploration lands from Gulf Canada Resources Limited for a cash consideration of 14.3 million dollars. Current production for the property is 8.25 MMCFPD. The acquisition of these gas assets, which complement Berkley's existing production and facilities at Adsett, will allow the company to proceed with a major gas development in the area during the next 12 months. During June, the company has cased new pool discoveries at Blueberry blueberry, plant of the large genus Vaccinium, widely distributed shrubs (occasionally small trees) of the family Ericaceae (heath family), usually found on acid soil. They are often confused with the related huckleberry. West and Wilder in northeast British Columbia and Wild River in Alberta. Berkley Petroleum's News Releases for the past 14 months can be accessed electronically through the Canadian Corporate News website at http://cdn-news.com
CONTACT: Berkley Petroleum Corp.
Michael L.Rose, 403/571-3600
403/ 269-6510 (FAX)
http:/www.berkleypete.com
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