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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (7983)12/17/1997 6:47:00 AM
From: Herb Duncan  Read Replies (1) of 15196
 
FINANCING / Q Energy Limited Announces Closing of Private Placement

ASE SYMBOL: QE

DECEMBER 16, 1997



CALGARY, ALBERTA--Q Energy Limited today announced that it has
raised $688,000 by way of a fully subscribed private placement of
flow-through shares. A total of 1,564,275 common shares were
issued to private investors at a price of $0.44/share. Proceeds
of the private placement will be used to finance the Company's
winter exploration and development programs.
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