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INTERNATIONAL DUSTY MAC ENTERPRISES LTD. COMMENCES OPERATIONS AT MADERA FEDERAL GAS WELL

 VANCOUVER, British Columbia, June 3 /PRNewswire/ -- George H. Laycraft, president, reports that International Dusty Mac Enterprises Ltd. has commenced operations at the Madera Federal "25" No. 1 gas well. The project is a farm-in from Tom Brown Inc. and others, of Midland, Texas.
 The Madera Federal gas field is located in the Delaware Basin, Lea County, N.M. The discovery well, The Madera Federal "25" No. 1, made a major new gas field discovery with 73 feet of net Atoka Sandstone pay. In spite of partial obstruction because of mechanical problems, the well tested flows as high as 12 million cubic feet per day of natural gas with approximately 24 barrels of condensate (very light oil) per million cubic feet of flow. The well also tested substantial flows from a second horizon, the Strawn Limestone, with 20 feet of net pay.
 International Dusty Mac will earn a 62.5 percent working interest on a 46.25 percent net revenue basis by paying 77.5 percent of the cost of re-entering, side-tracking and re-drilling the lowest 3,000 feet of the discovery well to a depth of 15,700 feet. The re-entry is designed to overcome mechanical problems that prevented a satisfactory completion of this well. The company has recently increased its position by 7.5 percent with the reversion of a portion of the interest of another company. Subject to an independent evaluation, the company is considering farming out this 7.5 percent of its interest to a third party.
 The company will pay 77.5 percent of the cost of a second well to casing point only to earn its interest in an additional six square miles of leases, after which Dusty Mac will pay only its proportionate 62.5 percent of the cost of the continuing development of the Madera gas field.
 During the second quarter, ended March 31, 1993, working capital increased by $667,880 as the result of completing a private placement. Subsequent to the end of the second quarter, an additional $1,579,580 was raised by another private placement and the exercise of stock options.
 -0- 6/3/93
 /CONTACT: George H. Laycraft, president of International Dusty Mac, 604-683-2568/
 (DM.)


CO: International Dusty Mac Enterprises Ltd. ST: British Columbia IN: OIL SU:

JB -- LA040 -- 5122 06/03/93 15:29 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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