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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE -- Ignore unavailable to you. Want to Upgrade?

To: Yarek Szolomicki who wrote (598)	10/28/1999 5:51:00 PM
From: Blaumax	Read Replies (1) \| Respond to of 864

CALGARY, Oct. 28 /CNW/ - Angus A. Mackenzie and a company wholly-owned by Mr. Mackenzie advised that they have acquired an additional 1,000,000 common shares of Scimitar Hydrocarbons Corporation (``Scimitar'). All of the shares were acquired pursuant to a seizure of shares which were hypothecated to Mr. Mackenzie. The shares were acquired for investment purposes. As a result of the transaction, Mr. Mackenzie and the company wholly-owned by Mr. Mackenzie own an aggregate 4,050,000 common shares which represents 13% of the issued and outstanding common shares of Scimitar. In addition, Mr. Mackenzie also holds options to acquire an aggregate 650,000 common shares of Scimitar granted pursuant to Scimitar's stock option plan. As disclosed in a rights offering circular of Scimitar dated September 28, 1999, Mr. Mackenzie presently intends to exercise his rights to acquire common shares pursuant to the rights offering. The Alberta Stock Exchange neither approves nor disapproves the information contained herein. -0- 10/28/1999 /For further information: Ms. Melita Dalgado, Investor Relations, Tel: 1-800-933-8855, Tel: (403)543-0333, Fax: (403) 543-0344, scimitar.ab.ca (SIY.)