Wiser Oil Begins Production at Wild River Well

The Wiser Oil Company has commenced production from its 15-30 Wild River gas discovery in Canada on January 6th at an initial rate of 10 million cubic feet per day ("mmcf/d"). Over the past several weeks the rate has been gradually increased to approximately 20 mmcf/d along with approximately 160 barrels of condensate per day. Wiser Canada owns a 50% working interest in the well and is the operator.

Eric G. Panchy, President of Wiser Canada said, "We are extremely pleased with the initial performance of the 15-30 well. Production from this well, along with results from our current drilling program, has confirmed our expectations regarding the play. Wiser plans to drill a total of eight wells in 2004 to continue development of our extensive leasehold position in the Wild River area. Two wells will target the Wabumum formation and six will target the shallower Gething and Cadomin formations."