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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8451)1/13/1998 7:57:00 PM
From: Arnie  Read Replies (1) of 15196
 
FINANCING / Ascot Energy Resources closes Private Placement

1998-01-13
CALGARY, ALBERTA

Ascot Energy Resources Ltd. has successfully closed a private placement of
$1,330,000.00 by way of a flow through common shares issue, priced at $ 0.35
per share. Proceeds from this issue will be used to partially finance its
ongoing 1998 exploration and development program.

For further information please contact:

Joe Worobec (403) 531-9022

or

Andre Arrata (403) 263-2412
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