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

To: Kerm Yerman who wrote (4107)	11/12/1997 9:20:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 24921

Newquest Energy Inc. Closes Public Offering CALGARY, ALBERTA--Newquest Energy Inc. (NQE.A, NQE.B - ASE) announced that today it closed its previously announced public offering of 2,000,000 units for gross proceeds of $9,500,000. The offering was fully subscribed. Each unit consisted of one (1) Class A share and one half of one (1/2) Class A share purchase warrant. Each full warrant entitles the holder to acquire one Newquest Class A Share at a price of $5.25 on or before 4:30 p.m. (Calgary time) December 1, 1997. Newquest is a Calgary based oil and gas producer with properties located in three core areas in Alberta. Proceeds of the offering will be used to fund ongoing oil and gas exploration and development activities. Newquest is a junior oil and gas exploration company whose shares are traded on The Alberta Stock Exchange under the trading symbol "NQE.A" and "NQE.B".