Canadian 88 Energy Corp. announces 5 discoveries

July 17, 1997 Canadian 88 Energy Corp. has announced five new discoveries in its core areas of Central and West Central Alberta.
The Company indicated that during the last 30 days it has had 2 new 100 % discoveries in the Three Hills area of Central Alberta, 2 new 100 % discoveries in the Willesden Green area of West Central Alberta and 1 new 100 % discovery on its Porcupine Hills exploration play south of Calgary. The Three Hills discoveries have been placed on stream and are currently producing approximately 1,000 barrels of oil equivalent per day.
The first Willesden Green discovery is being tied-in and is expected to produce at approximately 250 boepd with the second Willesden Green discovery currently being completed. The Porcupine Hills discovery is expected to produce at approximately 300 boepd and is to be tied-in to a new 15 mmcfpd 100 % owned Canadian 88 gas plant being licensed in the area. Follow-up drilling to the discoveries has commenced in the Porcupine Hills area and will commence in the other areas shortly.