Hadro Resources Inc. Announces Revised California Buttonwillow Oil and Gas Lease Acquisition and Well Drilling Partnerships

Apr 19, 2001, 01:00 ET from Hadro Resources, Inc.

    RENO, Nev., April 19 /PRNewswire/ --
     Revised Agreement for New Oil and Gas Leases:  Hadro Resources, Inc.
 (OTC Bulletin Board:   HDRS) ("the Company") has revised initial terms of
 agreement of the oil and gas lease acquisition announced by the Company on
 April 5, 2001 to acquire a 70% net revenue interest in approximately 224 acres
 of oil and gas leases in the Buttonwillow gas field located in the southern
 San Joaquin Valley of Kern County, California (the "Button Willow Leases")
 from Clearview Mineral Resources Corp., a British Columbia public company
 trading on the CDNX Exchange ("Clearview").  The Company, subject to final due
 diligence, now expects to execute a definitive agreement to obtain the 70% net
 revenue interest in the Buttonwillow leases for a total of $150,000 in cash.
 The Company previously announced that it would issue 2,000,000 restricted
 common shares to obtain its interest in the Buttonwillow leases.  The revised
 terms of agreement will not cause dilution to existing shareholders.  The
 definitive closing agreement to complete the proposed transaction is scheduled
 for May 31, 2001.
     The Buttonwillow Leases:  The leases are located in close proximity to the
 Berkley gas prospect (within 1.5 - 9 miles depending on lease) and include
 approximately 15 acres in the Lost Hills area.  The Buttonwillow leases are
 located approximately 32 miles northwest of the City of Bakersfield.  The
 leases also are host to a gas pipeline, and good infrastructure and road
 access.
     Partnership Drilling Arrangements:  The Company is also pleased to
 announce that Hadro and Clearview have executed two drill funding option
 agreements with two companies to provide 75% of the funds necessary to drill
 the first well on the Buttonwillow leases.  The options will expire on
 May 31, 2001, and entitles each company to participate in Hadro's net revenue
 interest in the first well to be drilled on the Buttonwillow leases according
 to pro rata investment.  The Company welcomes the interest of other
 participants to its drilling program on the Buttonwillow leases.
     Hadro and Clearview have granted a drill funding option to Canadian Metals
 Exploration Limited, a British Columbia public company trading on the CDNX
 Exchange under the symbol "CEL", such option is to provide 25% of well
 drilling capital on the first well to be drilled on the Button Willow Leases
 to obtain a 17.5% net royalty interest of the first drilled hole.  A second
 drill funding option has been provided Spectrum Technology Corp. of
 3403 Stockdale Hwy, Bakersfield, CA, such option is to provide 50% of well
 drilling capital on the first well to be drilled on the Button Willow Leases
 to obtain a 35% net royalty interest of the first drilled hole.  The options
 will expire on May 31, 2001 and require that drilling funding is provided by
 that date.
     Drilling Program Outline:  The Company expects to raise capital internally
 to drill gas and oil wells on the Buttonwillow leases this summer and fall.
 From seismic data processed, and from data from other wells drilled in the
 past by Chevron, Texaco, Lamberson, and Northwest Petroleum, the first well
 has been located and targeted for drilling to a depth of 6,650 feet to reach
 the San Jaoquin Sands, as well as the 44X Gas Sands at the mid depth, and the
 Randolph Oil Sands at depth.  Subject to financing, the Company plans to raise
 capital to drill six wells.
     The Buttonwillow Gas Field Structure:  The Buttonwillow gas field was
 discovered in 1927 and reached peak production in 1935 with 4.3 billion cubic
 feet of total production from the upper portion of the shallow San Joaquin
 Formation.  The Buttonwillow gas field is located near the depocenter of the
 San Joaquin Basin, a northwesterly-trending asymmetrical synclinorium which
 rises steeply to the west toward the Coast Range, but more gently to the east,
 forming a homocline.  The latter feature is disrupted by faults and
 northwesterly lines of folding.  The field is located on the Buttonwillow
 lowerbank trend, the fold line closest to the axis of the basin.
     The Buttonwillow Anticline elongate double-plunging structure is about
 5 miles long.  Faulting does not seem to influence the occurrence of
 hydrocarbons; the anticline and stratigraphy provide the traps.
     Prior production from the Buttonwillow gas field was limited to sands
 within the San Joaquin Formation, Pliocene age, between 2,300 and 3,400 feet.
 Several wells more currently drilled to deeper depths had excellent gas shows,
 even blowouts from the deeper San Joaquin sands and high gravity oil shows.
     About the Company:  Hadro Resources, Inc. is a natural resource
 exploration company engaged in the acquisition of oil and natural gas
 properties for exploration and development in the United States.  Subject to
 financing, the Company plans to undertake drilling for oil and gas in the U.S.
 The Company is currently assessing other potential oil and gas exploration
 acquisitions.
 
     SAFE HARBOR STATEMENT
     Forward-looking statements in this release are made pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995.
 Investors are cautioned that such forward-looking statements involve risks and
 uncertainties, including, without limitation, commodity prices of precious
 metals and actual results differing materially from projections because of
 geological factors, operation factors, government regulations or factors
 relied upon from independent sources, may either negatively or positively
 impact exploration or mining operations.  Forward-looking statements involve
 known and unknown risks and uncertainties that may cause the Company's actual
 results in the future periods to differ materially from forecasted results.
 The Company assumes no obligation to update the information in this release.
 
 

SOURCE Hadro Resources, Inc.
    RENO, Nev., April 19 /PRNewswire/ --
     Revised Agreement for New Oil and Gas Leases:  Hadro Resources, Inc.
 (OTC Bulletin Board:   HDRS) ("the Company") has revised initial terms of
 agreement of the oil and gas lease acquisition announced by the Company on
 April 5, 2001 to acquire a 70% net revenue interest in approximately 224 acres
 of oil and gas leases in the Buttonwillow gas field located in the southern
 San Joaquin Valley of Kern County, California (the "Button Willow Leases")
 from Clearview Mineral Resources Corp., a British Columbia public company
 trading on the CDNX Exchange ("Clearview").  The Company, subject to final due
 diligence, now expects to execute a definitive agreement to obtain the 70% net
 revenue interest in the Buttonwillow leases for a total of $150,000 in cash.
 The Company previously announced that it would issue 2,000,000 restricted
 common shares to obtain its interest in the Buttonwillow leases.  The revised
 terms of agreement will not cause dilution to existing shareholders.  The
 definitive closing agreement to complete the proposed transaction is scheduled
 for May 31, 2001.
     The Buttonwillow Leases:  The leases are located in close proximity to the
 Berkley gas prospect (within 1.5 - 9 miles depending on lease) and include
 approximately 15 acres in the Lost Hills area.  The Buttonwillow leases are
 located approximately 32 miles northwest of the City of Bakersfield.  The
 leases also are host to a gas pipeline, and good infrastructure and road
 access.
     Partnership Drilling Arrangements:  The Company is also pleased to
 announce that Hadro and Clearview have executed two drill funding option
 agreements with two companies to provide 75% of the funds necessary to drill
 the first well on the Buttonwillow leases.  The options will expire on
 May 31, 2001, and entitles each company to participate in Hadro's net revenue
 interest in the first well to be drilled on the Buttonwillow leases according
 to pro rata investment.  The Company welcomes the interest of other
 participants to its drilling program on the Buttonwillow leases.
     Hadro and Clearview have granted a drill funding option to Canadian Metals
 Exploration Limited, a British Columbia public company trading on the CDNX
 Exchange under the symbol "CEL", such option is to provide 25% of well
 drilling capital on the first well to be drilled on the Button Willow Leases
 to obtain a 17.5% net royalty interest of the first drilled hole.  A second
 drill funding option has been provided Spectrum Technology Corp. of
 3403 Stockdale Hwy, Bakersfield, CA, such option is to provide 50% of well
 drilling capital on the first well to be drilled on the Button Willow Leases
 to obtain a 35% net royalty interest of the first drilled hole.  The options
 will expire on May 31, 2001 and require that drilling funding is provided by
 that date.
     Drilling Program Outline:  The Company expects to raise capital internally
 to drill gas and oil wells on the Buttonwillow leases this summer and fall.
 From seismic data processed, and from data from other wells drilled in the
 past by Chevron, Texaco, Lamberson, and Northwest Petroleum, the first well
 has been located and targeted for drilling to a depth of 6,650 feet to reach
 the San Jaoquin Sands, as well as the 44X Gas Sands at the mid depth, and the
 Randolph Oil Sands at depth.  Subject to financing, the Company plans to raise
 capital to drill six wells.
     The Buttonwillow Gas Field Structure:  The Buttonwillow gas field was
 discovered in 1927 and reached peak production in 1935 with 4.3 billion cubic
 feet of total production from the upper portion of the shallow San Joaquin
 Formation.  The Buttonwillow gas field is located near the depocenter of the
 San Joaquin Basin, a northwesterly-trending asymmetrical synclinorium which
 rises steeply to the west toward the Coast Range, but more gently to the east,
 forming a homocline.  The latter feature is disrupted by faults and
 northwesterly lines of folding.  The field is located on the Buttonwillow
 lowerbank trend, the fold line closest to the axis of the basin.
     The Buttonwillow Anticline elongate double-plunging structure is about
 5 miles long.  Faulting does not seem to influence the occurrence of
 hydrocarbons; the anticline and stratigraphy provide the traps.
     Prior production from the Buttonwillow gas field was limited to sands
 within the San Joaquin Formation, Pliocene age, between 2,300 and 3,400 feet.
 Several wells more currently drilled to deeper depths had excellent gas shows,
 even blowouts from the deeper San Joaquin sands and high gravity oil shows.
     About the Company:  Hadro Resources, Inc. is a natural resource
 exploration company engaged in the acquisition of oil and natural gas
 properties for exploration and development in the United States.  Subject to
 financing, the Company plans to undertake drilling for oil and gas in the U.S.
 The Company is currently assessing other potential oil and gas exploration
 acquisitions.
 
     SAFE HARBOR STATEMENT
     Forward-looking statements in this release are made pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995.
 Investors are cautioned that such forward-looking statements involve risks and
 uncertainties, including, without limitation, commodity prices of precious
 metals and actual results differing materially from projections because of
 geological factors, operation factors, government regulations or factors
 relied upon from independent sources, may either negatively or positively
 impact exploration or mining operations.  Forward-looking statements involve
 known and unknown risks and uncertainties that may cause the Company's actual
 results in the future periods to differ materially from forecasted results.
 The Company assumes no obligation to update the information in this release.
 
 SOURCE  Hadro Resources, Inc.