Correction by source - Best Pacific Best Pacific reports third quarter results

Business Wire, Nov 8, 1995

CALGARY, ALBERTA--(BUSINESS WIRE)--Nov. 8, 1995--BEST PACIFIC RESOURCES (Alberta Stock Exchange:BPG) Best Pacific Resources Ltd. (BPR) is pleased to announce its financial results for the nine months ended September 30, 1995.

Gross revenues from oil and gas sales increased by 49.5 percent to $1,308,856 from $875,431 in the same period of 1994. Cash flow from operations was $396,214 or $0.042 per share, up 42 percent from $278,843 in the same period last year. The increases are primarily due to higher average production levels of 245 barrels of oil equivalent per day versus last year's nine month average of 167 barrels of oil per day.

The company is scheduled to commence immediate construction of an oil and gas gathering facility at the recently acquired Gadsby field. Production is expected to increase by 1MMCF of gas per day and 50 barrels of oil per day, adding to the Company's existing production of 310 barrels of oil equivalent per day. Further development at Gadsby includes a horizontal re-entry, scheduled to spud at the end of this month, in which BPR has a 67.5 percent working interest.

A seismic program at Little Bow has identified several potential locations, one of which will be drilled on the Company's 45 percent working interest lands before the end of the year.

The development of the Gadsby and Little Bow fields is being financed by the Company's immigration fund.

Best Pacific Resources Ltd. is listed on the Alberta Stock Exchange - trading symbol BPG. -0- EDITOR'S NOTE: THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

CONTACT: Stephen Ko/Steven Kirk, (403) 263-8389

(403) 233-7463 (Fax)