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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (12676)10/6/1998 4:52:00 PM
From: SofaSpud   of 15196
 
NORMAL COURSE ISSUER BID / Vermilion

VERMILION PLANS TO REPURCHASE COMMON SHARES

CALGARY, ALBERTA--

Vermilion Resources Ltd. "VRM" announces that it has filed with The
Toronto Stock Exchange and other applicable regulatory authorities
a Notice of Intention to Make a Normal Course Issuer Bid which
shall commence on October 9, 1998 and terminate on October 8, 1999
or the earlier of the date all shares which are subject to the
Normal Course Issuer Bid are purchased.

In the opinion of the Board of Directors of the Corporation, the
market price of the Common Shares of the Corporation has recently
not accurately reflected the value of those shares. As a result,
the Corporation's Common Shares may become available for purchase
at prices which make them an appropriate use of funds of the
Corporation.

Vermilion Resources Ltd. will attempt to acquire up to an aggregate
of 2,391,944 of its Common Shares over the next 12 month period
representing approximately 5% of the issued and outstanding Common
Shares. There are 47,838,879 Common Shares of Vermilion Resources
Ltd. issued and outstanding. All Common Shares acquired pursuant to
the Normal Course Issuer Bid will be cancelled by Vermilion.

Purchases subject to this Normal Course Issuer Bid will be carried
out pursuant to open market transactions through the facilities of
The Toronto Stock Exchange.

For further information, please contact:

Mr. Jeff Boyce Mr. Stephen Bjornson
President & C.E.O. Vice President Finance & Corp.
Secretary
Vermilion Resources Ltd. Vermilion Resources Ltd.
(403) 269-4884 (403) 269-4884

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