KERM'S KORNER Message Board

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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8899)	2/9/1998 1:59:00 PM
From: Herb Duncan	of 15196

PROPERTY ACQUISITION / Bonavista Petroleum Acquires Natural Gas Assets TSE SYMBOL: BNP FEBRUARY 9, 1998 CALGARY, ALBERTA--Bonavista Petroleum Ltd. ("Bonavista") is pleased to announce today that it has entered into a purchase and sale agreement with an intermediate oil and gas company to acquire natural gas assets located in Bonavista's Dixonville core area in northwest Alberta. These natural gas assets are currently producing 3 million cubic feet per day with associated proven and probable reserves of 10 billion cubic feet. Included in this transaction is an extensive undeveloped land position of 50,140 net acres with an average working interest of 85 percent, which will increase Bonavista's total undeveloped land portfolio to 114,960 net acres. This transaction is effective January 1, 1998 and is expected to close on February 25, 1998.

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