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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9983)4/7/1998 7:37:00 PM
From: Arnie   of 15196
 
ENERGY TRUSTS / Taylor Gas Liquids Fund Announcement

CALGARY, April 7 /CNW/ - The Taylor Gas Liquids Fund (the Fund) announced
today that Novagas Canada Ltd. (Novagas) has completed the purchase of a 43.3%
interest in the processing capacity of the Younger natural gas facility at
Taylor, B.C. from the Fund and PanCanadian Petroleum Limited (PanCanadian).
The Fund's share of the proceeds will be used to repay bank debt incurred
expanding the process capacity of the Younger facility and to construct
additional natural gas liquids handling facilities not part of the Novagas
transaction.

The Fund, PanCanadian and Novagas are proceeding with the completion of
the expansion of the inlet capacity of the Younger facility from 400 mmscfpd
to 750 mmscfpd. Following the completion of its expansion to 750 mmscfpd, the
Younger facility will be the largest gas processing plant in British Columbia.
Natural gas liquids production capacity will exceed 17,000 barrels per day of
propane, butane and condensate and 16,000 bpd of ethane.

After taking into account Novagas' participation in the Younger facility
and the expanded inlet capacity, the Fund will enjoy the benefits of:

- reduced bank debt;
- reduced per barrel operating costs;
- 9,000 bpd of ethane capacity; and
- a 10% increase in the Fund's gas processing capacity to 425 mmscfpd.

These benefits will assist in offsetting the current reduced natural gas
liquids pricing environment. The Fund will continue to maximize plant
profitability by optimizing plant product recoveries at reduced incremental
costs.
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