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RAM PETROLEUMS LIMITED ANNOUNCES RIO PUTUMAYO ASSOCIATION CONTRACT IN COLOMBIA

 TORONTO, June 14 /PRNewswire/ -- Ram has signed an Association Contract with Empresa Colombiana de Petroleos, the state oil company of Colombia, covering approximately 136,000 hectares or 569,276 acres in the Rio Putumayo region of Colombia, it was announced today.
 The south boundary of the concession area is at the southern end of Colombia at the Ecuador border. It is situated north of prolific oil fields discovered and developed by Texaco in the northern portion of the Oriente basin of Ecuador within 20 to 200 kilometers of the concession boundary.
 Ram's work obligation in the first year is 60 kilometers of new seismic and the reprocessing of 100 kilometers of existing seismic. In subsequent years one exploration well per year must be drilled to keep the concession in good standing until the point of commerciality.
 -0- 6/14/93
 /CONTACT: R.J. Opekar, president of Ram Petroleums, 416-362-8885/
 (RPL.)


CO: Ram Petroleums Limited ST: Ontario IN: OIL SU:

CK -- NY046 -- 1559 06/14/93 10:51 EST
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Publication:PR Newswire
Date:Jun 14, 1993
Words:168
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