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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (1022)	11/21/1996 2:52:00 PM
From: Kerm Yerman	of 24921

CANADIAN OILPATCH / DERRICK ENERGY DERRICK ENERGY CORPORATION REPORT RECORD PRODUCTION ! Derrick Energy Corporation is pleased to report record production and profitability as the end of fiscal year approaches. For the first nine months of 1996, net revenue increased by 89% to $980,828 compared with the 1995 period. Cash flow also increased by 629% to $514,781 ($0.11 per share) from $75,221 ($0.02 per share). Corresponding net income also advanced to $349,431 ($0.08 per share) from ($ 71,329) (($0.02) per share) for the same period last year. Derrick further announces that it has completed an 11 well program in the Princess/Bantry area doubling current gas production rates to 4.0 mmcf/d. Derrick is looking forward to a profitable winter as the new production, which came on stream November 1, 1996, is largely contracted to premium priced US markets. Derrick is an Alberta listed junior oil and gas producer with 4.9 million shares outstanding.

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