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Gold/Mining/Energy : KERM'S KORNER
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To: Arnie who wrote (8083)12/20/1997 3:51:00 PM
From: Herb Duncan  Read Replies (5) of 15196
 
CORP / Habernaro Resources: Restructuring of Accounts Payment

VSE SYMBOL: HAO

DECEMBER 19, 1997



VANCOUVER, BRITISH COLUMBIA--Habernaro Resources Inc. (the
"Company") announced today that it has effected a restructuring of
its accounts payment which eliminates of its working capital
deficit. Firstly, the Company has negotiated the forgiveness of
$200,000 of debt that had accrued when the Company operated under
the name American Wellhead Services Inc. Secondly, the Company
has negotiated the settlement of $139,526.42 of debt in exchange
for 581,360 shares. These shares will be issued at a deemed value
of $0.24 per share representing a 22.58 percent discount from the
last trading price of the Company's shares.

Upon completion of the above the Company will have 3,455,321
shares outstanding and no payables.
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