KERM'S KORNER Message Board

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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9092)	2/18/1998 11:49:00 AM
From: Arnie	of 15196

FINANCING / Crestar Energy completes Issue of Common Shares Crestar Energy Inc. (''Crestar'''- TSE & ME: CRS) announces that it has completed the issue of 5.25 million common shares at $22.25 per share, for aggregate gross proceeds of $116.8 million, to a syndicate co-led by RBC Dominion Securities Inc. and Nesbitt Burns Inc. The net proceeds from the offering of common shares will be used initially to reduce Crestar's bank indebtedness until required for the Company's exploration and development activities in 1998. Crestar Energy is a senior Canadian producer of crude oil, natural gas and natural gas liquids. The Company's shares trade on the Toronto and Montreal stock exchanges, under the symbol ''CRS''. This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The common shares offered will not be and have not been registered under the United States Securities Act, 1993, and may not be offered or sold in the United States absent registration or an exemption from registration.

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