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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8126)12/23/1997 6:45:00 PM
From: Arnie  Read Replies (18) of 15196
 
ENERGY TRUSTS / Starcor Energy Royalty Fund announces Acquisition

CALGARY, Dec. 23 /CNW/ - Starcor Energy Royalty Fund (TSE - STR.UN) today
announced the closing of various acquisitions of additional working interests
in existing core properties, totaling $14.9 million. Starcor has added 3.4
million barrels of oil equivalent (MBOE) of Established Reserves, at the
Weyburn Unit, South Rosevear Gas Unit No. 1 and at South Jenner. These
acquisitions will add approximately 620 BOE/day of production in 1998.

In addition, Starcor announced today that it has agreed to acquire an
additional interest in the Weyburn Unit for $8.3 million. This acquisition is
expected to close on January 15, 1998 and will add 1.78 MBOE of Established
Reserves contributing a further 260 BOE/day to 1998 production.

Starcor is currently reviewing its 1998 capital and operating budget in
light of current oil and natural gas pricing and the expectation that oil and
gas prices in 1998 will be materially lower than those realized in 1997. The
effect of lower prices on distributions will be significantly mitigated by the
above noted acquisitions. Using prices of $19.00 US per barrel of oil and
$1.65 CDN per Mcf of natural gas, Starcor estimates 1998 distributions of
approximately $1.40 per trust unit.
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