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NAHAMA & WEAGANT ANNOUNCES THIRD SUCCESSFUL DEVELOPMENT WELL IN NEW FIELD

 BAKERSFIELD, Calif., Feb. 9 /PRNewswire/ -- Nahama & Weagant Energy Company (NASDAQ: NAWE) President Rodney Nahama announced today that the company has successfully completed a significant development well in the new field discovered in January 1992 north of the Walnut Grove Thorton Gas field in the Sacramento Valley of California.
 The "McCormack" 2-24 well located in Section 24, T5N, R2E, is the third successful development well drilled in the area by the company. The well tested from two different perforated intervals at a combined rate of 8.123 million (MMCF) cubic feet of gas per day on a 16/64 inch choke, with flowing tubing and casing pressures of 2,190 and 2,850 PSI, respectively. A third interval in the well remains behind pipe. The development well is the result of additional seismic work done in the area after the discovery well was completed.
 Mr. Nahama also announced the successful completion of the company's well "McCormack" 2-19RD. The well tested at the rate of 1.688 MMCF per day on a 12/64 inch choke with a flowing tubing pressure of 1,690 PSI and a shut-in casing pressure of 1,775 PSI. The well still has zones behind pipe. The company has approximately 41 percent net working interest in the McCormack wells.
 Based in Bakersfield, Calif., Nahama & Weagant Energy Company is an independent oil and gas exploration and production company engaged in oil and gas exploration, development, and production, primarily in California and Oregon.
 -0- 2/9/93
 /CONTACT: Denis Fitzpatrick of Nahama & Weagant Energy, 805-323-9075, or Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Nahama & Weagant Energy/
 (NAWE)


CO: International Business Machines Corp. ST: California IN: OIL SU: DSC

KD-PS -- NY061 -- 4689 02/09/93 12:58 EST
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Publication:PR Newswire
Date:Feb 9, 1993
Words:289
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