KERM'S KORNER Message Board

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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8571)	1/21/1998 5:31:00 PM
From: Kerm Yerman	of 15196

CORP. / New Cache Petroleums To Repurchase Their Shares NEW CACHE PETROLEUMS LTD. PLANS TO REPURCHASE COMMON SHARES CALGARY, Jan. 20 /CNW/ - NEW CACHE PETROLEUMS LTD. (''New Cache'') announces that it has filed with The Toronto Stock Exchange and other applicable regulatory authorities a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on January 22, 1998 and terminate on January 20th, 1999 or the earlier of the date all shares which are subject to the Normal Courser Issuer Bid are purchased. In the opinion of the Board of Directors of the Corporation, the market price of the Common Shares of the Corporation has recently not accurately reflected the value of those shares. As a result, the Corporation's Common Shares may become available for purchase at prices which make them an appropriate use of funds of the Corporation. New Cache intends to attempt to acquire up to an aggregate of 700,000 Common Shares over the next 12 month period representing 4.98% of the issued and outstanding Common Shares. There are 14,063,897 Common Shares of New Cache issued and outstanding. The Common Shares purchased pursuant to this Normal Course Issuer Bid will be cancelled when purchased. Purchases subject to this Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of The Toronto Stock Exchange.

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