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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (10408)4/28/1998 9:16:00 PM
From: Herb Duncan   of 15196
 
ENERGY TRUST / Petrobank Energy - Gas Plant Expansion Complete,
Blood Drilling Update

TSE SYMBOL: PBG

APRIL 28, 1998



CALGARY, ALBERTA--Petrobank announces that commissioning of its
Alder Flats gas plant expansion has been completed three weeks
ahead of schedule. The new plant, owned 100 percent by Petrobank
is capable of processing 35 million cubic feet per day up from 16
million cubic feet per day prior to the expansion. The new
refrigeration plant is designed to operate at -40c and will
provide improved liquids recoveries over the former plant process.
The expanded plant will provide capacity for new gas well tie-ins
currently underway, new third party processing arrangements, and
will accommodate volumes expected from Petrobank's 1998
development drilling program.

Petrobank also announces that at Blood Magrath the first of two
deep earning wells has been drilled to depth and cased. Subject
to road bans and surface access, Petrobank expects to move a
service rig onto the well in the next ten days to begin evaluating
the first of four hydrocarbon bearing intervals encountered in the
well. The drilling rig has moved onto the second well location
and drilling is underway. The seismic acquisition provisions of
the farmin have been completed and the data is currently being
integrated into Petrobank's Blood Magrath exploration model.
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