DENVER, April 5 /PRNewswire/ -- Amalgamated Explorations, Inc. (OTC: AXPL) announces that it acquired an additional 539 net leased acres, now held by production, bringing Amalgamated's current land position to approximately 1,800 acres in the Boone Dome Gas Field area. The acreage is included within a 100 square mile 3-D Seismic shoot underway with Barrett Resources Corporation BRR, as operator, for oil and gas exploration in the Boone Dome Gas Field area. Under this seismic agreement, Barrett and their partners have the right to drill on Amalgamated leases to earn various rights subject to royalty and/or working interest retained by Amalgamated. Amalgamated will also have access to the seismic data within one mile of the Amalgamated leases for its own exploratory and/or drilling operations. Cabot Oil and Gas Corporation commenced acquiring data in the referenced area over approximately 100 square miles of data by the end of 2000 with an additional 23 square miles on or about March 12, 2001. Barrett Resources expects to receive fully processed 3-D digital stacked and migrated data by April 30, 2001.

Amalgamated Explorations, Inc. is a Denver based oil & gas and mineral exploration company that is currently listed on the OTC pink sheets. Amalgamated is in the process of completing its September 30, 2000 audit financial report and plans to file its SB10 form with the Securities and Exchange Commission to be reinstated to the Nasdaq Bulletin Board. More information is available at www.findoil.com

Forward-Looking Statements

This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projections.