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LINGENFELTER PRAISES LATERAL VECTOR OIL WELL DRILLING DEAL

Released on July 24, 1996

Deputy Premier and Economic Development Minister Dwain Lingenfelter
said today the start of Regina-based Lateral Vector Resource's oil well
drilling operations in China is a prime example of Saskatchewan
expertise and technology being exported worldwide. The project,
announced last year, resulted from the 1994 "Team Canada" mission to
China in which Premier Roy Romanow and Lateral Vector Resources
participated.

Lingenfelter attended a ceremony this week in Beijing marking the start
of the project, in which the Saskatchewan oil well drilling company
will drill 94 wells for the Chinese government over the next seven
years. Wayne Goranson, Lateral Vector's President and CEO, represented
the company, and Dr. Hu Nairen represented the Chinese National Oil and
Gas Development Corporation.

"Saskatchewan is a leader in horizontal oil drilling techniques and
much of Lateral Vector's success has come from using this leading edge
technology," Lingenfelter said. "The Partnership for Growth strategy
identified commercialization of enhanced oil recovery technologies as a
key opportunity for the province's energy sector, and certainly that's
what's happening here."

This project, worth an estimated $40 million US, will employ the
horizontal and re-entry horizontal drilling techniques that Lateral
Vector uses in its western Canadian operations. The company will drill
a minimum of 57 re-entry horizontal wells in the Liaohe oilfield in
Manchuria and 37 horizontal wells in the Dagang oilfield near Beijing
and the seaport of Tanjan.

"After intense preparations and negotiations, this project is
underway," Goranson said. "It will soon begin to generate substantial
revenue and resources that will facilitate the company's growth both
domestically and in emerging markets."

Lingenfelter is on an eight-day investment mission to Asia in his role
as Chair of the Saskatchewan Government Growth Fund, (SGGF), Management
Corporation. SGGF is a major shareholder in Lateral Vector Resources.

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For more information, contact:

Debbie Wilkie Bruce Ryan
Economic Development Vice-President, Finance
Regina Lateral Vector Resources
Phone: (306) 787-7982 Regina
Phone: (306) 569-1700

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