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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (170)	9/1/1996 8:48:00 PM
From: Kerm Yerman	of 24905

TOP TWENTY SELECTIONS UPDATE REF: MESSAGE #68 Maxx Petroleum Ltd. Stock Market: Toronto Stock Symbol: MXP Augfust 29, 1996 Maxx Petroleum Receives Approval To Issue Shares As Consideration For Acquisition. Shareholders of Maxx Petroleum approved the issuance of 4,059,400 shares to acquire the oil and gas assets owned by a officer and former officer of the Company ay a special shareholder meeting 0n August 28, 1996. Over 99% of the 12 million shares voted were in favor of the deal. The vendors and their associates were not eligible to vote at the meeting. The acquisition includes all of the oil and gas interests which were owned in common with Maxx and is effective January 1, 1996. In the second quarter of 1996, the properties produced 450 barrels of oil per day and generated cash flow of $663,000 which equates to $0.16 per new share issued. This production and cash flow will be included in the Company's third quarter financial report.

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