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Gold/Mining/Energy : KERM'S KORNER

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To: SofaSpud who wrote (11632)	7/7/1998 10:25:00 PM
From: Kerm Yerman	Read Replies (1) of 15196

PROPERTY DISPOSITION / Raptor Capital Sells Interest in B.C. Gas Property RAPTOR CAPITAL CORPORATION ANNOUNCES SALE OF PICKELL CREEK BRITISH COLUMBIA GAS PROPERTY CALGARY, July 7 /CNW/ - Mr. Norman J. Mackenzie, Chairman of Raptor Capital Corporation, announces that Raptor sold its 71.5789% working interest and its 3% gross overriding royalty in the Pickell Creek B.C. natural gas property for a price of $1.5 million. The sale of the property closed June 30, 1998 and included natural gas reserves and production facilities on approximately 700 acres in Northeast British Columbia. Proceeds of the sale will be used for the further development of Raptor's oil properties at Norris Alberta and Minton Saskatchewan; and for the horizontal re-entry of a well in Collier County Florida in September 1998.

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