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GARNET REPORTS DRILLING STATUS IN COLOMBIA

 GARNET REPORTS DRILLING STATUS IN COLOMBIA
 HOUSTON, Jan. 15 /PRNewswire/ -- Garnet Resources Corporation


(NASDAQ: GARN) today announced the status of its Florida No. 1 test well in the Putumayo region of southwestern Colombia.
 Garnet stated that the well, which is approximately six miles southeast of its Miraflor No. 1 oil discovery, has reached total depth of 9,210 feet and that production casing is being set. Garnet indicated that it is encouraged by initial examination of the electric logs run in the well. Garnet management stressed, however, that no definitive conclusions could be drawn prior to completion of testing on the well. Testing is to be commenced immediately on several potentially productive sands with final results expected in about 30 days.
 The company also announced it has prepared a location for the Victoria No. 1, a 9,200 foot exploratory test well located approximately three miles south of the Miraflor No. 1 discovery and one mile northeast of the Mary No. 1 discovery. This test is expected to commence drilling in about 45 days.
 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- 1/15/92
 /CONTACT: Albert E. Whitehead, chairman, 918-587-8093 or George M. Nevers, president, 713-759-1692, both of Garnet/
 (GARN) CO: Garnet Resources Corporation ST: Texas IN: OIL SU:


JT -- NY010 -- 9842 01/15/92 08:44 EST
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Publication:PR Newswire
Date:Jan 15, 1992
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