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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8551)	1/19/1998 7:38:00 PM
From: Kerm Yerman	Read Replies (6) of 15196

CORP. / Gulf Canada Resources Restructures UK Operations GULF CANADA RESTRUCTURES UK OPERATIONS TO TARGET GROWTH IN NORTH SEA DENVER, COLORADO, Jan. 19 /CNW/ - Gulf Canada Resources Limited, on behalf of its wholly owned subsidiary Clyde Petroleum Plc, announced today that as part of Gulf's strategy to expand its presence in the North Sea, the office for United Kingdom operations will be moved to London. The Company is in negotiations for office space in the London's West End and the relocation should be completed by mid-year. ''London will mean closer proximity to all levels of industry contacts, placing Gulf more squarely in the London oil and gas deal flow'', said Doug Manner, Vice President of International for Gulf Canada. Gulf will also streamline support and administration functions between the UK and Netherlands offices. The UK office will also continue to be responsible for current Middle Eastern and African projects and other regional opportunities for Gulf.

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