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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (7817)12/9/1997 11:46:00 PM
From: Arnie  Read Replies (2) of 15196
 
FINANCING / Venator Petroleum agrees to Private Placement

CALGARY, Dec. 9 /CNW/ - Venator Petroleum Company Ltd. has agreed,
subject to regulatory approval, to a private placement of 400,000 shares at
$2.40 per share to NCE Resource (97) Limited Partnership.

The Company also reports that the Wapiti 13-21 gas well has commenced
production flowing approximately 3.4 Mmcf/d plus associated liquids. Venator
has a 15% gross overriding royalty convertible to a 50% Working Interest in
the well.
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