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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (11305)	6/18/1998 3:43:00 PM
From: Kerm Yerman	Read Replies (4) of 15196

PROPERTY DISPOSITION / Curlew Lake Resources Inc. Sells Alberta Properties CWQ-VSE NEWS RELEASE Date: Thu, 18 Jun 1998 11:15:29 -0700 The Company has entered into interim agreements which, when completed, will result in the sale of two oil and gas properties in Alberta for a total of $326,000. Included, in two separate agreements, are a producing property in the Chestermere area and a non-producing property in the Wimborne area. The Company will retain a 5% gross overriding royalty on the Wimborne property. Company management determined that it would be prudent, in view of the uncertain conditions currently prevailing in both commodity and stock markets, to eliminate debt and provide funds for ongoing projects without selling equity at this time. Our operating partners advise us that good progress is being made on the analysis and interpretation of data from recent wells, which will be utilized in planning the next stage of development in both the Turner Valley area of Alberta and in the Los Angeles area of California. We expect to receive information on the timing of these next active programs in the near future.

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