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Gold/Mining/Energy : KERM'S KORNER

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To: Herb Duncan who wrote (8182)	12/30/1997 2:49:00 PM
From: Herb Duncan	of 15196

FINANCING / Moxie Announces Successful Closing of Initial Public Offering ASE SYMBOL: MOX DECEMBER 30, 1997 CALGARY, ALBERTA--Moxie Petroleum Ltd. ("Moxie") of Calgary announces the successful closing of its initial public offering. A total of 6,439 Units were sold at $1,000 per Unit for gross proceeds of $6,439,000. Each unit consisted of 350 common shares and 930 pre-paid flow-through warrants. Agents for the offering were Jennings Capital Inc. and Whalen Beliveau & Associes Inc.. Moxie has been formed to participate in oil and natural gas exploration, development and production in central and southern Alberta. The Company commenced a three well drilling program with the spudding of its first well on December 29. The common shares will begin trading on the Alberta Stock Exchange under the symbol "MOX" on December 31, 1997. There are a total of 3,753,650 common shares outstanding.

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