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Gold/Mining/Energy : KERM'S KORNER

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To: SofaSpud who wrote (11041)	6/1/1998 8:31:00 PM
From: Herb Duncan	Read Replies (1) of 15196

CORP / Unsolicited Offer to Kensington Energy Ltd. Shareholders ASE SYMBOL: KNN.A KNN.B JUNE 1, 1998 CALGARY, ALBERTA--On May 20, 1998, Draig Energy Ltd. issued a press release stating that it intends to make an offer for all of the Class A shares and Class B shares of Kensington Energy Ltd.. If an offer is made, the board of directors of Kensington advises all shareholders to take no action until a recommendation has been made by Kensington's board. The board of directors believes that the proposed offer is at a significant discount to Kensington's intrinsic value. A special committee of the board of directors has been formed comprising Ronald Quillian as Chairman, and John Gareau. The Special Committee has retained Griffiths McBurney & Partners to advise them on the adequacy and fairness of any such offer and to propose other measures to enhance shareholder value. Kensington's Class A Shares and Class B Shares trade on The Alberta Stock Exchange under the symbols KNN.A and KNN.B, respectively.

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