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RANGER OIL ANNOUNCES SUCCESSFUL PRODUCTION TESTING OF U.K. BLOCK 23/27 TO BE CALLED THE PIERCE FIELD

 RANGER OIL ANNOUNCES SUCCESSFUL PRODUCTION TESTING
 OF U.K. BLOCK 23/27 TO BE CALLED THE PIERCE FIELD
 CALGARY, Alberta, Feb. 5 /PRNewswire/ -- The following is being issued by F.J. Dyment, president and chief operating officer of Ranger Oil (NYSE: RGO, Toronto, Montreal: RGO):
 Ranger Oil, as operator, is pleased to announce that well 23/27-9, located some 150 miles due east of Aberdeen, in the U.K. sector of the North Sea, has tested at a cumulative rate of 13,194 barrels per day of 38 degree API oil with 10.3 million cubic feet of gas from two horizons.
 This well is an appraisal of two previous discoveries, 23/27-3 and 23/27-8 which tested at 3000 and 6200 barrels per day respectively. Studies are now under way on potential development options.
 The partners have agreed that this oil accumulation will be named the Pierce Field in memory of the late chairman of Ranger Oil, Jack Pierce.
 The partners in Block 23/27 are:
 Percent
 Ranger Oil (U.K.) Limited (Operator) 20.00
 Enterprise Oil plc 40.00
 LASMO North Sea PLC 36.25
 Peko Exploration (U.K.) Ltd (a wholly
 owned subsidiary of Santos Ltd) 3.75
 -0- 2/5/92
 /CONTACT: John G. Faulds, VP of Ranger Oil Limited, 403-263-1500/
 (RGO) CO: Ranger Oil Limited ST: Alberta IN: OIL SU:


CH -- LA008 -- 7062 02/05/92 09:55 EST
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Publication:PR Newswire
Date:Feb 5, 1992
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