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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (7935)	12/15/1997 8:39:00 PM
From: Arnie	Read Replies (3) of 15196

CORP. / Chauvco Resources announces Share Exchange Ratio CALGARY, Dec. 15 /CNW/ - Chauvco Resources Ltd. (''Chauvco'') announced today that the share exchange ratio to be used in its transaction with Pioneer Natural Resources Company (''Pioneer'') has been determined pursuant to the terms of the Combination Agreement dated September 3, 1997 between Pioneer and Chauvco. Chauvco shareholders have until December 16 to elect to receive either 0.493827 of an Exchangeable Share of Pioneer Canada or an equivalent fraction of a share of Pioneer Common Stock for each Chauvco share held. A Chauvco shareholders meeting is scheduled for 9:00 a.m. December 18 in Calgary.

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