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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8933)	2/10/1998 8:06:00 PM
From: Arnie	of 15196

FINANCING / Amber Energy Inc. announces Underwriting CALGARY, Feb. 10 /CNW/ - Amber Energy Inc. (''Amber'') announces that it has completed an offering of 5,000,000 common shares at $17.00 per common share, for gross proceeds of $85 million. The underwriting syndicate was led by FirstEnergy Capital Corp. and included Nesbitt Burns Inc., Gordon Capital Corporation, Bunting Warburg Inc., Newcrest Capital Inc., Peters & Co. Limited and Griffiths McBurney & Partners. Amber intends to initially apply proceeds from this offering to reduce its bank indebtedness until required for the Company's exploration and development activities in 1998. Amber is an independent Canadian oil and gas exploration, development and production company with common shares trading on The Toronto Stock Exchange and The Alberta Stock Exchange under the symbol AMB.

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