Doreal Energy: Colombian Exploration Update - Mateguefa No. 1 Well Set to Spud on Tapir Association Contract.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 10, 1998-- DOREAL ENERGY (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :DOY DOY Diocese of Youngstown (Youngstown, Ohio) DOY day of year (US DoD) DOY Duchess of York .) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :DEG.CF) Doreal Energy Corporation is pleased to announce that the Mateguefa no. 1 exploration well will spud on February 25, 1998. The Mateguefa Prospect and well location is located on a north-south trending, upthrown fault block which is seismically well defined. Multiple objectives are anticipated which include the Oligocene Carbonera sandstones, the Eocene Mirador sandstones and the Cretaceous Guadalupe, Gacheta and Ubaque sandstone intervals. All these objectives have excellent reservoir qualities and are productive in surrounding fields. These intervals also produce in the earlier Cusiana-Cupiagua and Cano Limon discoveries. The well is expected to drill to a total depth of approximately 10,000 feet with the estimated drilling time to be 20 days. The Mateguefa Prospect is the first of six structural exploration prospects to be tested on the Association Contract. In addition, there are three stratigraphic prospects and one re-entry prospect on the Contract that will be tested in the future. Joint Venture working interest partners in the Mateguefa no. 1 well and the Tapir tapir (tā`pər), nocturnal, herbivorous mammal, genus Tapirus, of the jungles of Central and South America and SE Asia. The tapir is somewhat piglike in appearance; however, it is not related to the pig, but to the horse and the Association Contract are Mobil Oil Company (through its ownership of Ampolex Petroleum Ltd.), Doreal Energy Corporation, Seven Seas Petroleum Inc. (GHK GHK Goldman-Hodgkin-Katz (equation) GHK Gush Katif, Israel - Domestic Airfield (airport code) GHK Global Hot Key GHK Group Hot Key ), Mohave Oil and Gas Corporation and Heritage Minerals Ltd., Bogota. Heritage is Operator for the group. On Behalf of the Board of Directors, James H. Dorman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Doreal Energy Corporation Ian Gallie in Victoria, B.C., 250/598-9091 http://www.dorealenergy.com |
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