GERRITY PURCHASES WATTENBERG LEASES

Gerrity Oil & Gas Corp., Denver, has completed a purchase of leases in Colorado's Wattenberg field holding 725 undrilled wellsites. About 350 are classified as probable or possible drillsites. The purchase in the Denver-Julesburg basin was made from Martin Exploration Management Co., Boulder, Colo., for $125 million. The leases have about 400 producing wells, with proved reserves estimated at 7.1 million bbl of oil and 89.5 bcf of gas. Current production, mainly from Cretaceous Dakota, J

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