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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (12928)10/21/1998 12:42:00 PM
From: Herb Duncan   of 15196
 
CORP / Deena Energy Inc. Restructures

ASE SYMBOL: DNG

OCTOBER 20, 1998

CALGARY, ALBERTA--Deena Energy Inc. announces that further to the
press release of October 1, 1998 in which a Canadian chartered
bank demanded repayment of their bank loan by October 15, 1998,
the time period for repayment has been extended to the close of
business on October 21, 1998.

Deena Energy Inc. continues to review alternatives in order to
restructure the company.

In addition, Deena Energy Inc. announces that J.W. (Grant)
Robertson has resigned as President and a director of the company
in order to pursue other ventures.

Robert L. Gillies C.A. has been appointed President and will
assist the company during the restructuring period.

Deena Energy Inc. is a Canadian oil and gas company listed on the
ASE under the trading symbol, DNG.

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