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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (6557)	6/10/1999 9:05:00 PM
From: Richard Saunders	Read Replies (2) \| Respond to of 24921

Highridge (HRE-tse) announcement indicates they're going to be wedded with someone other than Samson Canada, Ltd.. Any ideas? Also, haven't checked with co. however anyone know who Key West (KWE-ase) did their announced acquisition deal (approx. 600 boepd & some processing facilities?) with recently? =-=-=-=- NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: HIGHRIDGE EXPLORATION LTD. TSE SYMBOL: HRE JUNE 10, 1999 Highridge Enters Into Letter of Intent CALGARY, ALBERTA--HIGHRIDGE EXPLORATION LTD. ("Highridge") ("HRE" - TSE) announced that it has entered into a letter of intent with a large publicly traded independent Canadian energy company for the latter to make a take over bid to acquire all of the outstanding common shares of Highridge on the basis of an exchange of common shares. The letter of intent is subject to a number of conditions including board approval of the offering party no later than 3:00 p.m. Friday, June 11, 1999 and completion and execution of formal documentation that is in draft form and expected to be executed tomorrow. In the opinion of the financial advisor to Highridge, Griffiths McBurney & Partners, the offer being contemplated would be superior to the current Samson Canada, Ltd. offer. The Directors confirm their strong recommendation to REJECT the Offer made by Samson Canada, Ltd. that shareholders NOT TENDER their shares to the Samson offer. The Board of Directors of Highridge has waived the Highridge Shareholder Rights Plan to all take-over bids by way of circular made prior to 8 p.m. (Calgary time) Monday, June 14, 1999 and to the Samson Canada, Ltd. offer, effective immediately. Highridge suggests that shareholders not trade their Highridge shares pending a further announcement. Highridge will make an announcement tomorrow. Highridge is a public oil and gas company active in central Alberta, Canada. The common shares of Highridge are listed on The Toronto Stock Exchange and trade under the symbol "HRE". Additional information regarding Highridge can be accessed on our website at www.highridgeltd.com -30-