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NEW OIL SHOWS CONFIRM PRESENCE OF OIL DEEP BENEATH PICO ANTICLINE

 NEW OIL SHOWS CONFIRM PRESENCE OF OIL DEEP BENEATH PICO ANTICLINE
 LOS ANGELES, May 14 /PRNewswire/ -- Riva Petroleum Inc. (Vancouver: RVA) President and Chief Executive Officer Robert Constantine Grey reported to his investors that drilling in the Towsley No. 1 well on the Pico Anticline project, 30 miles north of Los Angeles, has encountered continuous oil staining and intermittent drilling breaks from a depth of 13,505 feet to 13,680 feet in the upper Topanga formation. These drilling breaks, which occurred in a number of distinct zones totaling approximately 50 feet within the gross interval of oil staining, coupled with the rock samples recovered from the mud stream, suggest good porosity in the sandstone structure. In the opinion of management, this new oil zone has the potential for commercial oil production.
 The drilling operation encountered another break of which about 10 feet contained associated oil staining and mud gas anomaly at a depth of 13,910 feet. This particular oil zone was the fifth zone in the Topanga formation which has indicated oil potential in the well since the directional drilling kick-off at a depth of 10,250 feet. All of these zones have demonstrated good porosity based on the drill bit penetration rate, indicating a strong presence of oil. At the present depth, the oil zones are being intersected approximately 1,100 feet higher on the structure than in the original Celeron/Chevron well. Currently, the drilling operation is proceeding at a depth of 14,043 feet and progressing at a rate of penetration of more than 100 feet per day in these sandstone areas.
 Riva Petroleum Inc. participates for a 30 percent working interest, Tusk Resources Inc. for a 7 percent interest in the Pico Anticline Project.
 -0- 5/14/92
 /NOTE: The Vancouver Stock Exchange has neither approved nor disapproved of the contents herein./
 /CONTACT: Riva Petroleum (investors), 800-667-1660 (U.S.) or 604-685-2286 (Canada); or Cottrell and Lindeman (media), 213-936-6677, for Riva Petroleum/
 (RVA.) CO: Riva Petroleum Inc. ST: California IN: OIL SU:


DM-EH -- LA011 -- 0051 05/14/92 09:04 EDT
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Publication:PR Newswire
Date:May 14, 1992
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