Blowout of the Cave Gulch 1-29LAK Well.DENVER--(BUSINESS WIRE)--Aug. 13, 1998--Amalgamated Explorations Inc. (OTC/BB:AXPL) reported today that its Cave Gulch 1-29LAK LAK In currencies, this is the abbreviation for the Laos Kip. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. well blew out approximately 2:00 a.m. Mountain Time this morning. The well is currently venting natural gas to the atmosphere. The well, which Barrett Resources Corporation (BRR BRR Badan Rehabilitasi dan Rekonstruksi (Indonesian, Rehabilitation and Reconstruction Agency, Indonesia) BRR Bit Rate Reduction BRR Big Red Racing (game) ) operates and owns a 70 percent working interest, appears to be totally lost. 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 1.5% working interest and did participate in a blow out insurance policy on this well. No one was injured in·jure tr.v. in·jured, in·jur·ing, in·jures 1. To cause physical harm to; hurt. 2. To cause damage to; impair. 3. by the blowout. Expert well control personnel are en route to the well. On February 14, 1998, the well encountered a gas flow. With the assistance of well and pressure control personnel the gas from the 1-29LAK well was diverted into a sales line on February 20. As of August 12, the well was producing 45 million cubic feet of gas per day. Since February 20, the well had produced a total of 7 billion cubic feet of gas and the pressure of the well had declined from approximately 10,900 psi to 8,800 psi. In light of the 1-29LAK blowout, Barrett will consider delaying for safety purposes the testing of the 3-29MAD well, which is located one-half mile from the 1-29LAK well. The testing of the 3-29MAD testing had been scheduled to begin on August 18. Amalgamated owns 0.726% working interest in the 3-29 well. Amalgamated Explorations Inc. is a Denver-based independent natural gas, oil, and mineral exploration and production company. Amalgamated also owns 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 and its Electrotelluric hydrocarbon depth 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.
CONTACT: Jon Vaux, 1-888-999-8787
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