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STAMPEDE OILS INC. - ISSUED DRILLING LICENSE

 CALGARY, Alberta, Aug. 25 /PRNewswire/ -- The company, as Operator of the Stampede Bearcat et al Hartell 4-13-19-2 W5M deep Devonian wildcat well to be drilled in the Turner Valley area south of Calgary, advises its shareholders that it has now been issued the necessary drilling license with which to commence operations. A drilling rig has been arranged for, and surface lease construction should commence in approximately one week.
 The actual drilling operation of this approximate 12,000 ft. test is expected to commence in approximately 10 days. The drilling of this well to total depth is expected to take six weeks. All related operations will be conducted on a "tight hole" confidential information basis. A second deep Turner Valley wildcat well, to be located approximately 4 miles west of this first well in the middle of the existing Mississippian Turner Valley Oilfield is planned to commence drilling operations immediately after the rig release of the first well, in approximately mid-October.
 The Stampede Rights Offering documentation is in the final draft stage and should be mailed out to all registered shareholders of the company's common voting shares in two weeks time. In light of the expected magnitude of success of the upcoming Turner Valley drilling program, shareholders are urged to have all common voting shares registered in their names to ensure receipt of the Rights Offering information.
 The company and its partners have farmed into 27,840 acres of P & NG Rights related to this prospect. The working interest partners in this Turner Valley drilling program are Stampede Oils Inc. as operator with 25 percent, Bearcat Explorations Ltd. at 45 percent and a private corporation with 30 percent. These interests are subject to an approximate 50 percent back-in by the farmors after cost recovery by the Stampede group from related production revenue.
 The Alberta STock Exchange has neither approved nor disapproved the information contained herein.
 Stampede Oils Inc. is listed on The Alberta Stock Exchange under the symbol STF.
 -0- 8/25/93
 /CONTACT: Stampede Oils Inc., 403-265-6166/
 (STF.)


CO: Stampede Oils Inc. ST: Alberta IN: OIL SU: LIC

LS -- LA030 -- 5929 08/25/93 19:02 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
Words:357
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