Tuesday March 2, 11:03 am Eastern Time Company Press Release Amalgamated Explorations Inc. Announces That SST Energy Corp. Has Been Contracted To Drill Federal Lease 1-23 DENVER--(BUSINESS WIRE)--March 2, 1999--Amalgamated Explorations Inc. (OTC BB:AXPL - news) is pleased to announce that SST Energy Corp. has been contracted to drill the Boone Dome Federal 1-23 test well in the N 1/2 SE 1/4 Section 23 T 35 N, R 85 W in Natrona County, Wyo. The test is scheduled to a 9,100 foot depth with the Frontier sandstone being the primary target. Drilling has commenced and is expected to take approximately 30 days to reach total depth. In addition, Amalgamated wishes to advise that Barrett Resources Corp., as the operator of the Cave Gulch 1-29 LAK well, is rigging up Parker Drilling Rig No. 166 to attempt a re-entry of the original well bore. This is the well that blew out on Aug. 13, 1998 and has been brought under control. Amalgamated holds a 1.5 percent interest as non-operator in that well and its spaced acreage. Amalgamated Explorations, Inc. - 1-303-629-5115