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Gold/Mining/Energy : KERM'S KORNER

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To: Arnie who wrote (8192)	12/30/1997 11:27:00 PM
From: Kerm Yerman	of 15196

CORP. / Clayoquot Announces Name Change To Bakrie Ninarak Energy CALGARY, Dec. 29 /CNW/ - CLAYOQUOT RESOURCES LTD. (ASE:CQR.A) announces that effective December 22, 1997, the company's name has been changed to BAKRIE MINARAK ENERGY INC. (''BME''). In the view of management, the new name reflects the company's increased emphasis on international exploration and development which resulted from the previously announced private placement of 24 million shares to Minarak Labuan Co. Ltd. The name change was approved by the company's shareholders at the previously announced Special Meeting of Shareholders held on December 22, 1997. The change of name will necessitate a change in the trading symbol from CQR.A, which change is expected to take place within the next two weeks, subject to regulatory approval. BME is an international petroleum company, engaged in the acquisition, exploration and development of oil and gas properties. BME trades on the Alberta Stock Exchange under the trading symbol ''CQR.A.'' The person responsible for this news release is John E. Burns, President of BME.

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