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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9278)2/26/1998 9:31:00 PM
From: Arnie   of 15196
 
FIELD ACTIVITIES & ACQUISITION / Vermilion Resources


Vermilion Resources Ltd. "Vermilion" is pleased to announce the acquisition
of complimentary gas assets in its Chip Lake project area. The first
acquisition includes 57% ownership and operatorship of a 31 MMSCFD processing
facility, approximately 900 BOED of production and 3 MMBOE's of reserves on
45 gross sections of land .

The company has also increased its additional ownership in the Granada Gas
Plant to 62% and will assume operatorship of this facility April 1, 1998.
Combined, Vermilion will operate over 60 MMSCFD of processing capacity and a
gathering system that captures gas from an area equivalent to 12 townships.

Both acquisitions will be financed with the existing credit facility and
strengthen the company's position in this project area providing it the
opportunity to accelerate development and exploration plans.

(France) . . . Vermilion's first three wells drilled in France have been
placed on production. The two wells in the Champotran field are producing at
a combined rate in excess of 300 BOPD increasing the field output by 50%.
The company's Vulaines well was horizontally drilled and is producing at a
rate of 500 BOPD. Based on these successes, Vermilion has spudded a second
horizontal Vulaines well, licenced a third and is preparing the lease for the
next Champotran well.

At Parentis, all technical work has been completed. Three of four horizontal
wells are being licenced and a rig has been commissioned to spud the first
well in March.

The results of these activities have continued to allow the company to show
production growth through the first quarter 1998. Vermilion anticipates
production levels to meet its quarterly budget volume of 9000 BOED, a 35%
increase to the 1997 annual average.

Vermilion Resources Ltd. is a publicly traded Canadian resource company with
domestic and international operations. The company's primary objective is to
maximize shareholder value by managing risk as it builds resource assets
through the acquisition, exploitation and exploration of natural gas and
crude oil.

For further information, please contact:

Mr. Jeff Boyce Mr. Stephen Bjornson
President & C.E.O. Vice President Finance & Corporate Secretary
Vermilion Resources Ltd. Vermilion Resources Ltd.
(403) 269-4884 (403) 269-4884
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