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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (13081)	10/29/1998 7:16:00 AM
From: Kerm Yerman	Read Replies (1) of 15196

FINANCIAL POST / Berkley Petroleum Joins Equity Raisers Deal shows there is 'a better tone to the market' By BARRY CRITCHLEY - The Financial Post Add the name of Calgary based Berkley Petroleum Corp. to the small but growing list of Canadian companies that have raised equity capital in the local market since the stock market meltdown. The firm, which is involved in the exploration, development and production of natural gas and crude oil, raised $45-million from a bought deal via the sale of four-million shares at $11.25 each. That was 65¢ a share lower than -- a 5.5% discount to -- Monday's closing price. The stock (BKP/TSE) closed yesterday at $11.25. The deal, slated to close on Nov. 12, was led by Nesbitt Burns and FirstEnergy Capital. Seven other firms were in the syndicate. "The deal shows that there is a better tone to the market. The company does a bought deal and the stock moves to a premium bid," said one market participant. The list of issuers includes Enbridge and Westcoast Energy, which both sold common shares; while Trilon Financial (a secondary offering of Great West preferreds), TransCanada PipeLines and Canadian General Investments sold preferred shares.

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