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LAUTERMILCH PROMOTES INVESTMENT AND INFORMATION EXCHANGE AT OIL AND GAS SYMPOSIUM

Released on April 30, 1998

In a bid to promote greater investment in Saskatchewan's oil and gas

sector, Energy and Mines Minister Eldon Lautermilch will deliver the

key-note address to approximately 600 industry representatives at the

Sixth International Williston Basin Horizontal Well Workshop in North

Dakota. Lautermilch's talk will focus on the deep rights reversion

policy (rights to unexplored and non-producing deep formations in

Crown leases more than five years old reverting to the Crown)

implemented earlier this month, the recently revamped oil and gas

royalty/tax structure and the new Petroleum Research Incentive

announced in the March provincial budget.



"We've made a number of policy decisions recently that are an

investment in our oil and gas sector for the people of this province,"

Lautermilch said. "Now it's important that we ensure the industry is

fully aware of those decisions so that it may act accordingly."



Initially established to exchange information specifically about

horizontal drilling, the annual workshop now focuses on any new

technology applicable in the Williston Basin, a geological unit that

runs through southeast Saskatchewan and extends to Manitoba, North and

South Dakota and Montana. The conference runs May 4-5 in Bismarck,

North Dakota and is held in Saskatchewan on alternate years.



While in North Dakota, Lautermilch will meet with members of the

Industrial Commission which regulates oil and gas activity in

that state. Topics for discussion include the implications of

climate change and particularly the merits of storing organic

material (carbon) in prairie soils to offset greenhouse gas

emissions. As well, they will review the importance of

exchanging research and information between Saskatchewan's and

North Dakota's geological surveys to stimulate oil and gas

development.



A meeting is also scheduled with the Vice-Chancellor of the

University of North Dakota to talk about petroleum research and

training underway at the University of Regina and the

opportunities for co-operation among the universities.



-30-



For more information, contact:



Marg Moran McQuinn

Energy and Mines

Regina

Phone: (306) 787-2567

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