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To: CIMA who wrote (12712)	10/28/1999 1:10:00 AM
From: Jim Bishop	Respond to of 150070

FEC.A thanks, been checking it out a bit. Interesting chart: 216.32.224.100 Very nice web site: foxenergy.com Some pretty cool news yesterday, and last week's even has an impact date. CALGARY, Oct. 26 /CNW/ - Fox Energy Corporation today announced that it has received conditional approval to undertake a Normal Course Issuer Bid through the facilities of The Alberta Stock Exchange. Under the issuer bid, the Company intends to repurchase up to 500,000 common shares over a one year period. Purchases and payments for the common shares will be made in accordance with the by-laws and rules of the Exchange. Purchases will be made by means of open market transactions. The Company recently completed a Normal Course Issuer Bid for the prior year on October 1, 1999 and issued a press release at that time. ''The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.'' For further information: Donald R. Holding, President & C.E.O., Telephone: (403) 265-3627, Fax: (403) 265-3628, Toll Free: 1-888-720-2108, E-mail: fec@foxenergy.com, Website: foxenergy.com ------------------------- CALGARY, Oct. 21 /CNW/ - Fox Energy Corporation (''Fox'') and Petrohawk Energy Ltd. (''Petrohawk'') announced that at a Special Meeting of the Shareholders of Petrohawk held on October 20th, 1999 the shareholders of Petrohawk voted in favour of a resolution to amalgamate with Fox Energy Ltd., a wholly-owned subsidiary of Fox. The transaction is expected to close on November 1, 1999(''Effective Date'') upon final regulatory approval. Upon completion of the amalgamation each Petrohawk shareholder will exchange four (4) Petrohawk common shares for one (1) common share in the share capital of Fox for a total of 4,166,667 common shares. After the Effective Date, Fox will have approximately 24,412,524 common shares issued and outstanding. The combined assets of the two companies are complimentary and will result in estimated production of approximately 500 barrels of oil equivalent per day by December 1999 based on completion of work programs in progress. Fox is currently undertaking an eight (8) well drilling program on its operated Medicine Hat Hilda natural gas project. Additional drilling, tie-ins and re-completions of various oil and gas wells situated in Alberta and Saskatchewan will be conducted prior to December. The merged companies will have interests in eight (8) major projects with considerable development potential in the short term. Proved and probable (risked) reserves of Fox will comprise an estimated 1,550,000 barrels of oil equivalent based on independent reserve evaluations effective December 31, 1998 for the two companies. Based on an independent oil and natural gas pricing forecast and hedging contracts, Fox is estimating cash flow of $3.2MM or $0.13 per share for the period November 1, 1999 to October 31, 2000. The amalgamated company will have bank debt of $1.9MM at the Effective Date representing a debt to cash flow ratio of 0.6 to 1. ''The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.''