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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (11852)7/22/1998 8:55:00 PM
From: Herb Duncan  Read Replies (1) of 15196
 
PROPERTY DISPOSITION / Raider Resources Announces Closing of
Property Disposition

TSE SYMBOL: RAI

JULY 22, 1998



CALGARY, ALBERTA--Raider Resources is pleased to announce the
closing of a property disposition on July 10, 1998. Our working
interest in the Greencourt property was sold to an industry
partner for $4 million. The proceeds from the transaction were
applied to our bank loan, which was reduced to $3.8 million at
closing. As a result of the sale, Raider's daily production rate
is 577 BOE, 64 percent of which is natural gas.

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