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Gold/Mining/Energy : KERM'S KORNER
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To: SofaSpud who wrote (11469)6/26/1998 6:55:00 AM
From: Herb Duncan  Read Replies (1) of 15196
 
FINANCING / Maxwell Announces Private Placement

ASE, VSE SYMBOL: MWL

JUNE 25, 1998



CALGARY, ALBERTA--The Board of Directors of Maxwell Oil & Gas Ltd.
wish to advise that the Company has raised net proceeds of
approximately $0.4 million through a private placement of
flow-through shares priced at $1.20 per share. Securities issued
under this placement are subject to a twelve month hold period and
Alberta Stock Exchange approval.

Proceeds from the offering will be used to supplement funding of
Maxwell's ongoing exploration program.

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