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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (14089)12/8/1998 2:30:00 AM
From: Kerm Yerman   of 15196
 
CORP ANNOUNCEMENT / Canadian 88 Energy Corp. Accepts J.P. Bryan
Resignation

CALGARY, ALBERTA--Canadian 88 Energy Corp. of Calgary, Alberta
announced today that the Board of Directors of the Company have
accepted the resignation of Mr. J.P. Bryan of Houston, Texas as
Chairman and Director.

Mr. Bryan was appointed Chairman and Director September 28, 1998
and he has been replaced as Chairman by Mr. James D. Raymond,
Investment Banker of Montreal, Quebec, Chairman and Director of
Canadian 88 Energy Corp. from October, 1992 to September 28, 1998.

The Company said in Calgary today that it wishes Mr. Bryan all the
best in his other business endeavours.

Canadian 88 Energy Corp. is a Calgary based natural gas
exploration and production Company with operations concentrated in
the foothills of Western Canada. Canadian 88 is the leading deep
driller in the foothills of Alberta. The Company recently
expanded its capital spending program for natural gas drilling in
Western Canada to $170 million for the balance of 1998 and 1999 to
take advantage of lower land and service costs that have resulted
from depressed oil commodity prices.

The shares of Canadian 88 Energy Corp. are traded on the Toronto,
Alberta and American Stock Exchanges.

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