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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (15047)	1/27/1999 3:31:00 PM
From: Kerm Yerman	of 15196

CORP UPDATE / Ranger Oil Limited Renews Shareholder Bid Approval Plan CALGARY, Jan. 27 /CNW/ - Ranger Oil Limited today announced that its Board of Directors adopted a Shareholder Bid Approval Plan (the ''Plan'') to replace the current plan, which expires today. The principal elements of the renewal Plan are the same as the current Plan. The adoption of the renewal Plan in replacement of the current plan is consistent with the Board of Directors' continuing objective to maximize value to shareholders and to treat all shareholders fairly in the event of an unsolicited takeover bid. The Plan becomes effective immediately upon the expiration of the current plan, but requires confirmation by Ranger's shareholders at the Company's next annual meeting scheduled for April 29, 1999. Neither the Board nor Management is aware of any pending or threatened takeover bid. Issued by: F.J. Dyment President and Chief Executive Officer

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