Beaver River Gas Well A5 Producing 18 million Cubic Feet of Natural Gas Per Day; Additional Re-Entry Well Planned for Summer 2001

Apr 10, 2001, 01:00 ET from EuroGas, Inc.

    VIENNA, Austria, April 10 /PRNewswire/ -- EuroGas, Inc.
 (OTC Bulletin Board:   EUGS) announces that the A5 re-entry well in the Beaver
 River gas field has been on stream since March 20, 2001, and has been
 producing 18 million cubic feet of natural gas per day (mmcf/d), according to
 the operator, Questerre Beaver River, Inc., a Calgary, Canada privately held
 company.
     Over the past winter Questerre worked over and re-completed various wells
 in the field and reconditioned the surface facilities and pipeline gathering
 system.  This work was performed in order to establish gas production, and to
 deliver the gas to the Westcoast Energy's transmission pipeline.
     Questerre is currently conducting a technical review to plan the next
 re-entry well.  Operational programs, costs and risks are being reviewed along
 with the design and cost of the associated facilities.  The re-entry well is
 slated to commence on June 1, 2001, when a drilling rig may be barged into the
 property.  Questerre has commissioned a reservoir stimulation study and a
 reserve report, which is being prepared by McDaniel & Associates, a leading
 petroleum consulting firm based in Canada.
     The Beaver River Natural Gas Field, located 100 miles northwest of Fort
 Nelson on the border of British Columbia and the Yukon Territory, was
 developed by Amoco Canada Petroleum Co. Ltd. ("Amoco") in the 1960s.
 Considered to be British Columbia's largest gas field with reserves estimated
 at more than one trillion cubic feet of natural gas, Beaver River initially
 produced more than 200 mmcf/d from five wells.  Subsequently, technical
 problems led to excess water production that caused Amoco to shut-in the field
 in October 1978.  In 1987 the current working interest holders acquired Beaver
 River and produced natural gas from the field on a limited basis from 1990
 until early 1993.  Beaver River is connected to a pipeline, which ties into
 Westcoast Energy's major gas pipeline system.
     EuroGas owns a 50% interest in Beaver River Resources Ltd. ("BRRL"), a
 closely held Canadian corporation.  BRRL's sole asset is its 13.3% interest in
 the Beaver River natural gas field.  In addition, EuroGas owns 7.5% of the
 issued capital of United Gunn Resources Ltd., which owns a 6.7% interest in
 the Beaver River natural gas field.
 
     About EuroGas: EuroGas is an international, independent energy company
 that controls methane gas concessions in Poland and has oil and gas
 exploration and development joint ventures in Canada, Poland, the Slovak
 Republic and Ukraine.  EuroGas, Inc. common stock is traded on the OTC
 Bulletin Board under the symbol EUGS and on the Frankfurt and Berlin Stock
 Exchanges under the symbols EUG.F and EUG.B, respectively.  Website:
 http://www.eugs.com.
 
     Statements regarding anticipated oil and gas production and other oil and
 gas operating activities, including the costs and timing of those activities,
 are "forward-looking statements" within the meaning of the Securities
 Litigation Reform Act.  The statements involve risks that could significantly
 impact EuroGas, Inc.  These risks include, but are not limited to, adverse
 general economic conditions, operating hazards, drilling risks, inherent
 uncertainties in interpreting engineering and geologic data, competition,
 reduced availability of drilling and other well services, fluctuations in oil
 and gas prices and prices for drilling and other well services and government
 regulation and foreign political risks, as well as other risks discussed in
 detail in the EuroGas Inc.'s filings with the U.S. Securities and Exchange
 Commission.
 
 

SOURCE EuroGas, Inc.
    VIENNA, Austria, April 10 /PRNewswire/ -- EuroGas, Inc.
 (OTC Bulletin Board:   EUGS) announces that the A5 re-entry well in the Beaver
 River gas field has been on stream since March 20, 2001, and has been
 producing 18 million cubic feet of natural gas per day (mmcf/d), according to
 the operator, Questerre Beaver River, Inc., a Calgary, Canada privately held
 company.
     Over the past winter Questerre worked over and re-completed various wells
 in the field and reconditioned the surface facilities and pipeline gathering
 system.  This work was performed in order to establish gas production, and to
 deliver the gas to the Westcoast Energy's transmission pipeline.
     Questerre is currently conducting a technical review to plan the next
 re-entry well.  Operational programs, costs and risks are being reviewed along
 with the design and cost of the associated facilities.  The re-entry well is
 slated to commence on June 1, 2001, when a drilling rig may be barged into the
 property.  Questerre has commissioned a reservoir stimulation study and a
 reserve report, which is being prepared by McDaniel & Associates, a leading
 petroleum consulting firm based in Canada.
     The Beaver River Natural Gas Field, located 100 miles northwest of Fort
 Nelson on the border of British Columbia and the Yukon Territory, was
 developed by Amoco Canada Petroleum Co. Ltd. ("Amoco") in the 1960s.
 Considered to be British Columbia's largest gas field with reserves estimated
 at more than one trillion cubic feet of natural gas, Beaver River initially
 produced more than 200 mmcf/d from five wells.  Subsequently, technical
 problems led to excess water production that caused Amoco to shut-in the field
 in October 1978.  In 1987 the current working interest holders acquired Beaver
 River and produced natural gas from the field on a limited basis from 1990
 until early 1993.  Beaver River is connected to a pipeline, which ties into
 Westcoast Energy's major gas pipeline system.
     EuroGas owns a 50% interest in Beaver River Resources Ltd. ("BRRL"), a
 closely held Canadian corporation.  BRRL's sole asset is its 13.3% interest in
 the Beaver River natural gas field.  In addition, EuroGas owns 7.5% of the
 issued capital of United Gunn Resources Ltd., which owns a 6.7% interest in
 the Beaver River natural gas field.
 
     About EuroGas: EuroGas is an international, independent energy company
 that controls methane gas concessions in Poland and has oil and gas
 exploration and development joint ventures in Canada, Poland, the Slovak
 Republic and Ukraine.  EuroGas, Inc. common stock is traded on the OTC
 Bulletin Board under the symbol EUGS and on the Frankfurt and Berlin Stock
 Exchanges under the symbols EUG.F and EUG.B, respectively.  Website:
 http://www.eugs.com.
 
     Statements regarding anticipated oil and gas production and other oil and
 gas operating activities, including the costs and timing of those activities,
 are "forward-looking statements" within the meaning of the Securities
 Litigation Reform Act.  The statements involve risks that could significantly
 impact EuroGas, Inc.  These risks include, but are not limited to, adverse
 general economic conditions, operating hazards, drilling risks, inherent
 uncertainties in interpreting engineering and geologic data, competition,
 reduced availability of drilling and other well services, fluctuations in oil
 and gas prices and prices for drilling and other well services and government
 regulation and foreign political risks, as well as other risks discussed in
 detail in the EuroGas Inc.'s filings with the U.S. Securities and Exchange
 Commission.
 
 SOURCE  EuroGas, Inc.