FORT WORTH, Texas, March 2 /PRNewswire/ -- Snyder Oil Corporation
(NYSE: SNY) ("SOCO") today announced it has entered into an agreement with the
University of Wyoming to utilize U.S. Department of Energy ("DOE") funds to
jointly demonstrate new technologies developed by SOCO, and the Institute of
Energy Research ("IER") at the University of Wyoming to assist in the
discovery and development of gas resources in basin-centered, low-permeability
reservoirs.  Researchers at the IER believe these accumulations represent a
fundamentally different class of exploration targets that require new
technologies to find and develop.
    Under the agreement, SOCO and its partner Belco Oil and Gas Corp.
(NYSE: BOG) ("Belco") will acquire 45 square miles of 3-D seismic data and
perform stimulation tests on low-permeability reservoirs in two exploration
wells.  SOCO will be operator of the $2.8 million project.  The IER will
provide project management and new exploration technologies.  The DOE is
providing $1.2 million to the 18-month project.  The project is located on the
Shoshone and Northern Arapaho Wind River Indian Reservation in Fremont County,
Wyoming, where SOCO and Belco have lease options covering 32,800 net acres of
tribal lands.
    SOCO is engaged in the production, development, acquisition and
exploration of domestic oil and gas properties, primarily in the Gulf of
Mexico, the Rockies and northern Louisiana.  The Company also has investments
in two international exploration and production companies, SOCO International
plc and Cairn Energy plc.  The Company's common shares are traded on the New
York Stock Exchange under the symbol "SNY".
    Belco Oil & Gas Corp. is an independent energy company engaged in the
exploration, development, acquisition and production of natural gas and oil.

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