Wednesday March 17, 12:09 pm Eastern Time Company Press Release Jefferson County District Court Reconfirmed the Terms of the License Agreement Granting a Worldwide Exclusive License to Certain Telluric Survey Technology to MSP Technologies DENVER--(BUSINESS WIRE)--March 17, 1999-- Amalgamated Explorations Inc. (OTC BB:AXPL) www.findeoil.com announces that the Jefferson County District Court granted the company and its wholly owned subsidiary, MSP Technologies Inc. a Preliminary Injunction and enjoined John R. Jackson of Littleton, Colo. and Andreas Arismendi, Jr. of Houston, from terminating the License Agreement under which they granted a worldwide exclusive license to certain telluric survey technology to MSP Technologies, a wholly owned subsidiary of Amalgamated. The companies were forced to file this lawsuit when the defendants threatened to terminate the license agreement to MSP Technologies Inc. Jackson has resigned from his position as vice president of research and development of MSP. In his ruling the judge found that Amalgamated had demonstrated that there was a substantial likelihood that Amalgamated would prevail on the merits of their claims. Jackson and Arismendi are enjoined from terminating the License Agreement. Furthermore, Jackson and Arismendi were enjoined from taking any steps to interfere with Amalgamated and MSP's use and enjoyment of their rights under the License Agreement. Finally, Jackson and Arismendi were enjoined from taking any steps to interfere with Amalgamated and MSP's operation of their business. A full copy of the judge's findings and order will be posted on the company's Web site, www.findoil.com. Notice, this release contains forward-looking statements regarding Amalgamated Explorations Inc. and MSP Technologies Inc. future plans and expected performances based on assumptions we believe to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, fluctuations in the price of crude oil and natural gas, the success rate of exploration efforts and the timelines of development activities, as well as other outside factors. No warranties are expressed or implied of the representations, accuracy or results projected herein. Amalgamated Explorations, Inc. - 1-303-629-5115