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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (14389)12/18/1998 4:21:00 PM
From: Kerm Yerman   of 15196
 
ENERGY TRUSTS / EnerMark Income Fund Completes Medicine Hat Acquisition

CALGARY, Dec. 18 /CNW/ - EnerMark Income Fund is pleased to announce that
it has successfully completed the last of a series of property acquisitions in
the Medicine Hat, Patricia/Verger and Pine Creek areas of Alberta. These
acquisitions have added net production of over 1,400 bbls/day of crude oil and
natural gas liquids in addition to approximately 1,900 mcf/day of natural gas
to the Fund for a total production increase of over 1,590 BOE/day. As a
result, a total of 10,700 MBOE of proven and probable reserves were purchased
at a cost of less than $4.00 per BOE.

The properties have a combined proven and probable reserve life index
(''RLI'') of 18.4 years and an economic reserve life of over 40 years. The
properties also have significant upside potential for infill drilling and
water flooding which can increase production and reserves in future years.
EnerMark now owns controlling working interests in these areas and has assumed
operatorship. As a result, the Fund should see very little increase in
general and administrative costs.

Combined with the successful 1998 development programs, these
acquisitions have more than replaced the Fund's 1998 production as previously
stated in the November 26 news release.
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