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GULF CANADA RESOURCES LIMITED ANNOUNCES PRELIMINARY WELL RESULTS

 GULF CANADA RESOURCES LIMITED ANNOUNCES PRELIMINARY WELL RESULTS
 CALGARY, Alberta, March 30 /PRNewswire/ -- Gulf Canada Resources Limited (AMEX: GOU, Toronto, Montreal, Vancouver: GOU) today announced that its wholly owned subsidiary Asamera Oil (Indonesia) Ltd. has reported that well logs from its exploratory well, Kuala Langsa-1, indicate what appears to be a gas zone of significant thickness. The well is in Asamera's Block A Production Sharing Contract area on the island of Sumatra.
 The company cautioned that the well log indications have yet to be confirmed through testing. Current plans, after running casing, are to drill the well to total depth and commence a comprehensive testing program, after which further details will be released.
 Kuala Langsa-1, which spudded on Jan. 2, 1992, is the second well in a
six-well exploration program in Block A. The first well,


Bata-1, completed testing in February 1992. A third well, Kuala Muku-1, was spudded on March 11, 1992. Three more wells will be drilled later this year.
 Asamera Oil (Indonesia) Ltd. is the operator and has a 50 percent interest in the Block A contract area. Aceh Gas & Oil Co. Inc., a Japanese corporation, was assigned a 50 percent interest for funding 100 percent of up to the first US $70 million being spent on an exploration and development program for the block.
 -0- 3/30/92
 /CONTACT: Craig Langpap (investors), 403-233-4341, or John Sparks, (public affairs), 403-233-4049, both of Gulf Canada Resources/
 (GOU) CO: Gulf Canada Resources Limited ST: Alberta IN: OIL SU:


CH -- LA004 -- 2757 03/30/92 09:49 EST
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Publication:PR Newswire
Date:Mar 30, 1992
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