CALGARY, May 20 /CNW-PRN/ - We are pleased to report the results for the three months ended March 31, 1999. The total cash distribution paid to Unitholders for the period was 33 cents per Unit. This was comprised of regular monthly cash distribution payments of 5.5 cents per Unit paid on the 20th days of March, April and May respectively and a supplemental adjustment of 1.5 cents and an ARTC amount of 15 cents per Unit paid on May 20th. Daily production averaged 2,108 barrels of oil equivalent (``BOE'') per day during the first quarter of 1999, slightly higher than the 1999 targeted production rate of 2,055 BOE per day. Crude oil and NGLs production averaged 1,150 bbls/day and natural gas production averaged 9.6 MMcf/day during this period. The Fund's 1999 capital development program was formulated to focus primarily on developing natural gas properties during the early part of the year. During the first quarter, development activities were carried out at Countess, Ferrier and Valhalla. A five well natural gas infill drilling program was successfully completed and placed on stream at Countess, Westrock I's 100% working interest property. The production from this area has doubled to 700 Mcf/day with the addition of these wells. Westrock anticipates that operating results for the area will improve significantly in 1999 compared to 1998. At the Ferrier/Elkton property, the Fund concluded arrangements to proceed with the installation of compression at this natural gas property. The installation of compression should result in incremental production rates of 450 BOE/day gross, 270 BOE/day net to Westrock I. Work on the Halfway natural gas project at Valhalla was initiated during the first quarter as well. The development of the Halfway natural gas pool involves the dual completion of the two existing wellbores, providing the opportunity to produce both the Halfway gas zone and the shallow Doe Creek gas zone. In addition to these dual completions and tie-ins, Westrock I has successfully farmed out the drilling of one additional well to an industry partner. It is anticipated that this well will be drilled late in the second quarter. The installation of the gathering system and commencement of production is currently scheduled for the third quarter of 1999. It is anticipated that this project will result in incremental natural gas production of 5 MMcf/day gross, 1.5 MMcf/day net to the Fund. In addition to these development activities undertaken during the first quarter, Westrock I acquired a 16% working interest in a portion of the Imperial Oil operated Ferrier Cardium oil pool. This oil pool is located approximately ten miles southeast of the Fund's existing Ferrier natural gas property. The oil production from this pool is a high quality, sweet crude that provides an excellent netback for the property. Total reserves acquired in the transaction were 235 MBOE with current production of 55 BOE/day net to the Fund. Westrock I received an average selling price of $17.54 Cdn. for its crude oil production during the quarter, down from $19.21 Cdn. for the same period in 1998. The average selling price for natural gas liquids for the quarter was $12.28 Cdn., down 32% from the same period in 1998 and the average selling price of the Fund's natural gas was $2.23 Cdn. per Mcf, up 25% from $1.78 per Mcf in 1998. During the first quarter of 1999, funds flow from operations of $1.6 million remained virtually unchanged from the same period in 1998 as did daily production volumes. A 25% increase in natural gas prices more than offset the lower crude oil and natural gas liquids prices received compared to the same period in 1998. As a result of maintaining funds flow from operations at levels comparable to 1998 and with the additional distribution from ARTC received during the period, cash distributions per Unit were maintained at 33 cents per Unit on the higher number of Units outstanding. Strengthening oil prices in the second quarter, coupled with continued strong gas prices, should result in higher funds flow from operations going forward. In February, 1999, a Rights Issue was completed and 464,703 Units were issued at a price of $4.80 per Unit. Proceeds from the Rights Issue were used to fund capital expenditures and reduce bank debt incurred to fund oil and natural gas property acquisitions. A complete copy of the first quarter interim report is available on our website at www.enerplus.com. SOURCE Westrock Energy Income Fund I & II -0- 5/20/99 /CONTACT: Investor Relations at 1-800-319-6462 or email investorrelations(at)enerplus.com/ (WRE.UN.) CO: Westrock Energy Income Fund I & II ST: Alberta IN: OIL SU: ERN -30-  