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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (10408)4/28/1998 9:13:00 PM
From: Herb Duncan   of 15196
 
CORP / Newport Petroleum Announcement

TSE SYMBOL: NPP

APRIL 28, 1998



CALGARY, ALBERTA--


NEWPORT PETROLEUM CORPORATION has been active in the Caroline area
with Canadian 88 Energy Corp. under a Participation and Acreage
Exchange Agreement. Under this agreement, the parties have a
50/50 interest in certain lands on which they are actively
pursuing development of the Caroline play. Newport, as operator,
drilled the discovery well Newport Caroline 8-6-34-5-W5M.
Yesterday, Newport was served with a Statement of Claim by
Canadian 88 Energy Corp. for damages and a declaration of
operatorship regarding certain lands under this agreement. While
the claim is still under review, management believes it is without
merit. Newport intends to vigorously defend the action.

Newport has a 50 percent working interest in the well
7-19-33-5-W5M currently being drilled by Canadian 88 Energy Corp.
on the Caroline play.

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