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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8198)12/31/1997 7:52:00 AM
From: Herb Duncan   of 15196
 
PROPERTY ACQUISITION-TOP 20 LISTED / Paramount Resources Ltd.
Announces the Closing of an Asset Acquisition

TSE SYMBOL: POU

DECEMBER 29, 1997



CALGARY, ALBERTA--Paramount Resources Ltd. has completed the
acquisition, for $73.0 million including closing adjustments, of
certain producing natural gas properties from Reserve Royalty
Corporation that previously were owned by Jordan Petroleum Ltd.

The properties acquired are currently producing 42 MMcf/d and are
primarily located at Thornbury, Winefred and Cold Lake, Alberta,
and at Primrose, Saskatchewan. These properties also include a
considerable amount of undeveloped acreage that Paramount believes
has further upside potential.

Paramount's common shares are listed for trading on The Toronto
Stock Exchange under the symbol "POU".
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