No. 04



Arakis Energy Announces New Oil Discovery In Sudan'sHeglig Oilfield

The Calgary-based Arakis Energy Corp. announced on20 January that it had made a third significant oil discovery in the Sudan with thecompletion of well El Nar 2a, which was drilled to a target depth of 2,445 ms. in aseparate structure offsetting the 1996 South Toma discovery. A gross oil column of 120 ms(net 60 ms.) was penetrated in the Bentui 1 formation with additional potential in theBentui...