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ALTA ENERGY ANNOUNCES 52-WELL PROGRAM

 ALTA ENERGY ANNOUNCES 52-WELL PROGRAM
 DENVER, June 23 /PRNewswire/ -- Alta Energy Corporation announced it


has closed a $2.8 million loan to fund the drilling of eight infill wells in Eddy County, N.M. It has also announced its directors have approved plans, subject to funding availability, to drill 52 additional infill wells in Eddy County at an expected cost of $19.2 million over the next 18 months. The new drilling is intended to increase Alta's production from 2000 BOE per day to 4000 BOE per day.
 Separately, Alta announced its board of directors approved the open market purchase, from time to time, subject to availability of funds, of up to 300,000 common shares for its employees stock option plan.
 Alta Energy Corporation's common stock is traded on the Emerging Company Marketplace under the symbol ALE.EC.
 -0- 6/23/92
 /CONTACT: Charles Lard of Alta Energy, 203-677-8707/ CO: Alta Energy Corporation ST: Colorado IN: OIL SU: FNC


PS-LR -- NY047 -- 2969 06/23/92 16:01 EDT
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Publication:PR Newswire
Date:Jun 23, 1992
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