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Gold/Mining/Energy : BEAU Canada (T/M BAU) -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (42)	4/27/2000 10:27:00 AM
From: Gilbert Drapeau	Read Replies (2) \| Respond to of 57

Beau Canada Exploration Ltd. Updates Corporate Activities and Explores Strategic Alternatives APRIL 27, 2000 CALGARY, ALBERTA--Beau Canada Exploration Ltd. ("Beau Canada" or the "Company") is pleased to announce that the Slave Point gas discovery in the Ladyfern area of northeast British Columbia and the South Hamburg area of Alberta has been brought on at an initial gross production rate of 45 mmcf/d. This rate is to be increased to approximately 60 mmcf/d over the next two to three weeks. Beau Canada holds a 30 percent working interest in the discovery. The Company has extensive 3D seismic over this area and has already identified six locations for the next winter drilling season. This discovery was initially described in a press release in February of this year. As a result of this discovery and an active winter drilling program, Beau Canada's daily production now exceeds 100 mmcf/d of gas and 8,000 bbls/d of oil and liquids. In response to several unsolicited proposals received by the Company over the last several months, the Special Committee of the Board of Directors of Beau Canada has recommended to the Board of Directors that the Company commence a process to explore strategic alternatives designed to maximize shareholder value. To that end, the Board of Directors has engaged FirstEnergy Capital Corp., BMO Nesbitt Burns Inc. and Griffiths McBurney & Partners to seek out and explore strategic alternatives. These alternatives may include the sale of all or part of the Company's assets or shares of the Company. In addition, the Company may seek out alternatives involving strategic equity partners. Data rooms have been assembled and the financial advisors have commenced the process. To accommodate this strategic alternatives process, the Board of Directors has postponed the Beau Canada Annual General Meeting originally scheduled for May 30, 2000. Inquiries regarding the process can be directed to: Harley Mintz, Chairman, Special Committee, Beau Canada Exploration Ltd. (416) 391-2900, Warren G. Holmes, Managing Director, Corporate Finance, FirstEnergy Capital Corp. (403) 262-0620, Shane C. Fildes, Vice President, Investment Banking, BMO Nesbitt Burns Inc. (403) 515-1588 or Thomas A. Budd, President, Griffiths McBurney & Partners (403) 543-3036. Beau Canada Exploration Ltd. is a Canadian oil and gas exploration and development company based in Calgary. Beau Canada's common shares are listed on The Toronto Stock Exchange under the symbol "BAU". For further information, please contact Thomas F. Bugg, President & CEO at 403-750-3400.