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RANGER OIL ANNOUNCES RESULTS OF DISCOVERY WELL IN ANGOLA, BLOCK 4

 CALGARY, Canada, Aug. 16 /PRNewswire/ -- Ranger Oil Limited (NYSE: RGO) announced the successful result of its first exploration well in Angola, Block 4.
 Exploration well 4/23-1, located approximately 50 kilometers offshore, was drilled to a total depth of 3,677 meters and tested at an average flow rate of 4,600 barrels per day of 28 degree API oil. The well has been suspended and further technical appraisal work will be required to evaluate the potential of this discovery.
 A 400 kilometer 3-D seismic survey will commence this month over the discovery and adjacent prospective area. Several drillable structures have been identified from existing seismic and the 3-D survey will be used in determining future drilling locations.. The next well is scheduled to be drilled in early 1994.
 Partners in Block 4 are:
 Ranger Oil Limited (Operator) 70 percent
 Sonangol U.E.E. 20 percent
 Heritage Oil & Gas Limited 10 percent
 Issued by: F.J. Dyment, president and chief executive officer of Ranger Oil.
 -0- 8/16/93
 /CONTACT: John G. Faulds, vice president, investor relations of Ranger Oil, 403-232-5203/
 (RGO)


CO: Ranger Oil Limited ST: IN: OIL SU:

TS -- NY025 -- 2890 08/16/93 08:47 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
Words:199
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