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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (10574)	5/7/1998 10:22:00 PM
From: Arnie	of 15196

EARNINGS / Barra Resources reports 1st 3 months Results CALGARY, May 7 /CNW/ - BARRA RESOURCES INC. (ASE: BAO) (the ''Corporation'') announces the results of operations for the quarter ended March 31, 1998. Barra's production during the quarter averaged 104 bpd of oil and liquids and 1,430 mcfd of natural gas for a combined production rate of 247 boed, an increase of 234% over the level of 74 boed in the prior year. During the quarter average prices received were $1.97 per mcf of natural gas and $19.15 per barrel of oil and liquids. In the quarter, the Corporation tied in the Nevis well and commenced gas sales from that property, disposed of its interests in Homeglen/Rimbey and selected three well locations at West Provost for drilling during the summer. In conjunction with partners, Barra has bid to acquire additional interests in some of its south-eastern Alberta properties and is awaiting the outcome of these proposals. << Period (x)Profit/ Profit/ (x)Cash C. F./ (x)Revenue Share Flow Share 1st Qtr 1998 $12 $ - $172 $0.02 $406 1997 $34 $0.01 $ 83 $0.02 $156 (x)Thousands of Dollars >>

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