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Gold/Mining/Energy : Magin Energy-MGY on TSE -- Ignore unavailable to you. Want to Upgrade?

To: TheBare who wrote (36)	4/20/2000 12:16:00 AM
From: RIK	Read Replies (2) \| Respond to of 92

Magin is FST's partner at COPTON Tuesday April 18, 5:59 pm Eastern Time Company Press Release Forest Oil Corp. Announces Initial Production in Alberta Foothills DENVER--(BUSINESS WIRE)--April 18, 2000--Forest Oil Corporation (NYSE:FST - news) announced today initial production out of its Narraway field in the Alberta Foothills. Initial rates will be about 4 mmcfd from 2 wells. Forest presently plans to complete 3 additional wells in 2000 and 2 to 4 wells in 2001. Narraway is estimated to be smaller than Forest's other foothills discovery at Copton (Cutpick) in terms of land, reserves, and productivity per well. However, this event does mark the first cash flow from Forest's Canadian frontier investments which began in January 1997. Other frontier projects which should begin production in 2000 are Ft. Liard in July and Copton (Cutpick) in December. Forest will initially receive revenue less production expense (net back) of about Cdn$2.70 per mcf for its gas at Narraway. Forest, as operator, and its partner, Petro Canada, each own 50% in Narraway. This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that expected results will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include the timing and extent of changes in commodity prices for oil and gas, operating risks and other risk factors as described in the Company's 1999 Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Forest Oil Corporation is engaged in the acquisition, exploration, development, production and marketing of natural gas and crude oil in North America. Forest's principal reserves and producing properties are located in the United States in the Gulf of Mexico, Louisiana, Texas, Oklahoma and Wyoming and in Canada in Alberta and the Northwest Territories. Forest's common stock trades on the New York Stock Exchange under the symbol FST. Contact: Forest Oil Corporation Donald H. Stevens, Vice President and Treasurer 303/812-1500

To: TheBare who wrote (36)	4/20/2000 10:18:00 AM
From: kingfisher	Respond to of 92

Regarding that large bid yesterday,it may have been flashed by Magin as part of their intended normal course issuer bid. Perhaps a display of confidence that their shares are grossly undervalued. The Copton assets do have the potential to significantly increase Magin's net asset value over the next several years.This potential is not currently being reflected in share price. From annual report commenting on Copton,"One of the most exciting opportunities held by a junior producer in the Canadian oil patch." "Beyond 2000,we look forward to full-scale development of the Copton prospect with five to 10 locations being drilled each year for several years". Magin will be presenting at the 19th annual COPIC Producers Spring conference Tuesday April 25 th in Toronto at 9.30 am. Conference is being held at the Metro Toronto Convention Centre. Richard