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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (13912)11/30/1998 11:23:00 AM
From: Kerm Yerman  Read Replies (1) of 15196
 
ACQUISITIONS - MERGERS / Poco Petroleums announces Pan East Petroleum
bid successful

CALGARY, Nov. 30 /CNW/ - Poco Petroleums Ltd. (''Poco'') announces that
approximately 58,800,000 common shares of Pan East Petroleum Corp. (''Pan
East'') or approximately 97.5% of the issued and outstanding common shares of
Pan East have been tendered to Poco's offer to purchase all of the issued and
outstanding common shares of Pan East, dated November 6, 1998, all of which
will be taken up and paid for today. Poco also announces that it intends to
acquire all the remaining outstanding common shares of Pan East pursuant to
the compulsory acquisition provisions of the Business Corporations Act
(Ontario).
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