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GARNET COMPLETES BARGE FERRY AND COMMENCES WELL TESTS IN COLOMBIA

 HOUSTON, Jan. 25 /PRNewswire/ -- Garnet Resources Corporation (NASDAQ: GARN) announced today that testing of prospective oil sands in its Mary No. 2 well in Colombia is under way, and that testing in the Victoria No. 1 will commence in approximately two weeks. The company also said it plans to start drilling the Toroyaco No. 3 development well by mid-February.
 Installation of a barge ferry crossing the Caqueta River was accomplished in early January, and roads were completed to the Mary and Victoria wells. This construction project has allowed transport of completion rigs to conduct the testing programs, and will also allow substitution of land drilling rigs for helicopter rigs on exploratory and development wells that are planned during 1993. Results of the Mary No. 2 testing are expected about February 8, with Victoria No. 1 results in late February.
 The Toroyaco No. 3, the third well in the Toroyaco field, should be on production by June 1993. The company said it expects the well to add 1500 to 1700 barrels of oil per day to the current 3000 barrels per day gross production from its Toroyaco and Linda Fields. The two fields, with four producing wells, produced a cumulative 714,000 barrels of oil from start-up in late April 1992 through December 1992.
 Garnet is engaged primarily in international oil and gas exploration activities. Its exploration and production operations in Colombia are conducted through its subsidiary Argosy Energy International.
 -0- 1/25/93
 /CONTACT: Albert E. Whitehead, chairman, 918-587-8093, or George M. Nevers, president, 713-759-162?, both of Garnet/
 (GARN)


CO: Garnet Resources Corporation ST: Texas IN: OIL SU:

LD-TM -- NY093 -- 8745 01/25/93 16:59 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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