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Gold/Mining/Energy : KERM'S KORNER

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To: Herb Duncan who wrote (8957)	2/11/1998 8:21:00 PM
From: Herb Duncan	of 15196

CORP / Abacan Resource Corporation TSE SYMBOL: ABC NASDAQ SYMBOL: ABACF FEBRUARY 11, 1998 CALGARY, ALBERTA--Abacan Resource Corporation announced that Timothy T. Stephens has joined the Board of Directors and has been appointed to the position of President and Chief Executive Officer of Abacan. Mr. Stephens was formerly President and Director of Seven Seas Petroleum Inc., an international exploration and production company. Prior to Seven Seas, he was employed by Enron Capital and Trade Resources, the merchant banking arm of Enron Corp. Mr. Wade Cherwayko will assume the position of non executive Chairman of the Board. In this role, Mr. Cherwayko will devote his efforts to the Corporation's business opportunities and relationships in West Africa. Mr. Daryl K. (Doc) Seaman will remain as Chairman of the Board. Mr. Stephens has been granted 1,000,000 stock options exercisable at $3.25 per share.

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