Canrise Resources Ltd. Announces Interim Fall Drilling Results.

CALGARY, Alberta--(BUSINESS WIRE)--Nov. 7, 1995--CANRISE RESOURCES LTD.(Alberta Stock Exchange: CRE ) As a result of public inquiries, Canrise Resources Ltd. today announced the interim results of its fall drilling program. The program consists of seven well locations within west-central Alberta.

Drilling commenced with two 100 percent working interest gas tests in early October. Both were cased as potentially commercial gas wells. The McLeod well has been completed and should be capable of initially producing 5 million cubic feet of natural gas per day and 100 barrels of natural gas liquids per day. However, deliverability is being confirmed by extensive testing which will be concluded at the end of November. The Heldar well is currently being completed and results will also become available at the end of the month. Subject to these tests and weather, both wells are expected to commence production in January.

In addition, Canrise spudded a 62.5 percent working interest Niton gas test on November 5, and will spud another 100 percent working interest Whitecourt gas test today. Also, recompletion operations are underway on a previously completed McLeod wellbore in which Canrise acquired working interests varying from 75 percent to 100 percent. Subject to weather, this well will also commence production in January and should be capable of producing a gross 2 million cubic feet of natural gas per day and 20 barrels of condensate per day.

In early December the company will participate for a 57 percent Unit working interest in two operated Carrot Creek oil tests, and for a 14 percent Unit working interest in a non-operated horizontal Carrot Creek oil test. All seven locations and the one recompletion are in fields that have ready access to market, and the majority of the gas production will be dedicated to major aggregators.

Canrise's current sales production is approximately 8 million cubic feet of natural gas per day and 250 barrels of oil/LPG per day. Second quarter production averaged 5.2 million cubic feet of natural gas per day and 133 barrels of oil/LPG per day. Third quarter financial and operating results are being finalized and will be released before the end of the month.

Canrise is an Alberta based corporation engaged in the exploration, development and acquisition of oil and gas properties in Western Canada. Canrise is listed on the Toronto Stock Exchange under the trading symbol CRE.

CONTACT: Peter J. Kurceba

President and Chief Executive Officer

403/232-922