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SOCO INVESTMENT MEANS 12 JOBS FOR LLOYDMINSTER AREA

Released on May 20, 1999

Energy and Mines Minister Eldon Lautermilch, on behalf of Janice

MacKinnon, minister responsible for the Saskatchewan Opportunities

Corporation (SOCO), today announced that SOCO has made a $2,000,000

investment in Bellator Exploration Inc.



Bellator is a publicly-traded company involved in the exploration and

development of oil and gas in the Tangleflags area in west-central

Saskatchewan east of Lloydminster. SOCO's investment has assisted the

company to increase its heavy oil production from 2,800 bopd (barrels

of oil per day) to 5,000 bopd to be processed by the Husky Oil

Lloydminster Upgrader.



Bellator, a Calgary-based firm, recently increased staff in its field

office in the Tangleflags area from 30 to 45 workers. In addition,

the project is expected to generate incremental Crown royalties of

approximately $1.5 million per year.



"This investment in the expansion and stabilization within the heavy

oil industry means economic growth and job creation," Lautermilch

said. "It is consistent with SOCO's objective of investing in

companies that will strengthen our economy and create jobs for

Saskatchewan people."



SOCO targets its investments in projects in the province's

sectors of strength, one of which is the energy sector. This

investment means a company operating in Saskatchewan will be able

to expand to meet increased international market demands for its

product.



-30-



For more information, contact:



Irene Rau

Director, Corporate Affairs

SOCO

Regina

Phone: (306) 787-8576



Rob Zakresky

President & CEO

Bellator Exploration

Calgary

Phone: (403) 232-6533 ext. 226



Gary Anderson

Vice-President Operations & CFO

Bellator Exploration

Lloydminster

Phone: (403) 232-6533 ext. 224

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