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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9936)	4/3/1998 8:10:00 PM
From: Herb Duncan	of 15196

FINANCING TOP 20 LISTED / Canadian 88 Energy Corp. Announces $55.5 Million Equity Financing TSE, ASE SYMBOL: EEE APRIL 3, 1998 CALGARY, ALBERTA-- Canadian 88 Energy Corp. of Calgary, Alberta, announced today that it has entered into an agreement for the issuance of 7.5 million shares at $7.40 per share, for gross proceeds of $55.5 million. The underwriting syndicate is being led by Goepel McDermid Inc. The Underwriters have an option for an additional 750,000 shares at $7.40 per share. Proceeds of the issue will be used for Canadian 88's capital expenditure program which is estimated to be a minimum of $130 million in 1998. Canadian 88 Energy Corp. (EEE) is an independent public oil and gas company with head office in Calgary, Alberta, Canada.

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