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

To: Richard Saunders who wrote (6876)	10/9/1999 9:39:00 PM
From: CIMA	Respond to of 24925

I like this company. The sector is turning around and I'm bottom-fishing here. Something may be up, I'm checking the rumor mill circuit here in Alberta. I like the looks of this last press release, a private placement with the Bank of Montreal at $1.60 per share. If a bank that big will pay $1.60, I'm willing to pay around a dollar... Wednesday September 22, 4:45 pm Eastern Time Company Press Release Hyduke Closes $1,300,000 Private Placement EDMONTON, ALBERTA-- OPERATING DIVISIONS: B.W. RIG REPAIR & SUPPLY RELIABLE AIRFLOW SALES & SERVICE CANWEST CRANE AND EQUIPMENT MIMCO ENTERPRISES Hyduke Resources Ltd. (''HYD'') is pleased to announce the closing of a private placement of 812,500 Common Shares @$1.60 with the Bank of Montreal [NYSE:BMO - news] Capital Corporation, effective September 14, 1999, raising gross proceeds of $1,300,000 (Cdn.) From the total placement of $1,300,000, $900,000 will be used to retire a debt associated with the acquisition of Mimco Enterprises Ltd. and the remaining balance will be used to provide additional working capital to Mimco. Hyduke Resources Ltd. is an integrated oilfield services company specializing in the manufacture, repair and sales of oilfield equipment and supplies. The range of products include oilfield service rigs, pump trucks, generator & combination buildings, pneumatic controls, various models of truck mounted cranes, oilfield supplies, drilling tools, machining and fabrication services. -------------------------------------------------------------------------------- Contact: Hyduke Resources Ltd. John Babic CEO (780) 463-8686 (780) 988-5768 jbabic@hyduke.com or Hyduke Resources Ltd. Bob Ardiel CFO (780) 463-8686