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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8102)12/22/1997 7:33:00 PM
From: Arnie  Read Replies (1) of 15196
 
CORP. / Calibre Energy mails Takeover Offer

CALGARY, Dec. 22 /CNW/ - Calibre Energy Inc. announced today it has
mailed its offer to purchase all of the issued and outstanding common shares
of Trego Energy Inc. on Friday December 19, 1997. Calibre is offering $1.30
in cash plus one-fifth of one common share of Calibre for each one common
share of Trego. The offer is conditional upon at least 662/3% being tendered
under the offer which closes on January 16, 1998. Shareholders holding 40.24%
of the common shares of Trego have signed agreements to tender their shares to
the Calibre offer. The Board of Directors of Trego have issued their
Directors Circular which unanimously recommends to Trego shareholders to
accept Calibre's offer.

Mr. R. Dean Smith President of Calibre Energy Inc. said, ''Based on an
independent engineering evaluation, the acquisition of Trego will add
approximately three million barrels of proven oil reserves and 850BOE/D of
production to Calibre's southeast Saskatchewan core area.''

The combined entity will be producing in excess of 2,000BOE/D. In
addition, Trego holds in excess of thirty thousand net undeveloped acres in
Calibre's southeast Alberta core area which complements our existing large
land and production base.

Subsequent to completion of the acquisition of Trego, Calibre expects to
drill in excess of thirty wells thoughout the 1998 year.
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