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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (14589)	12/31/1998 8:45:00 PM
From: Kerm Yerman	of 15196

FINANCING / Equatorial Energy Inc. Private Placement CALGARY, Dec. 31 /CNW/ - EQUATORIAL ENERGY INC. announced today that it has completed its previously announced private placement of 6,750,090 common shares of Equatorial Energy Inc. on a flow-through basis at a price of $0.55 per flow-through common share for gross proceeds of $3,712,549.50. The funds will be applied to Equatorial's planned exploration and development of the properties to be acquired from Gulf Canada Resources Limited. Emerging Equities Inc. of Calgary, Alberta acted as agent for the private placement. Equatorial is a Calgary based oil and gas company whose common shares trade on The Vancouver Stock Exchange under the symbol OZ.

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