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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8334)	1/7/1998 6:01:00 PM
From: Arnie	of 15196

FINANCING / Tekerra Gas Inc closes Financing CALGARY, Jan. 7 /CNW/ - Tekerra Gas Inc. announces that on December 31, 1997 it closed a fully subscribed private placement of 666,667 flow through shares at a price of $0.45 per share. The $300,000.00 will be used to finance development drilling in the Columbia area of Alberta. Tekerra is participating with its partner in the drilling of two wells to the Cardium formation this winter with plans for three follow-up locations later in the year. In other news, Tekerra reports that two wells drilled in the second half of 1997 in Columbia have been completed, tied-in and are on production. The well, 6-12-46-16 W5M was drilled in August and put onstream in November. It is completed in the Cardium formation and currently averaging 500 million cubic feet per day of gas and 18 barrels per day of liquids. Tekerra has a 9.165% working interest. The 16-11-46-16 W5 well was drilled in November, completed in the Cardium zone and brought onstream in January. Initial rates were 825 million cubic feet per day of gas and 48 barrels per day of liquids. Tekerra has a 10% working interest in this well.

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