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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (7443)	11/26/1997 3:02:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Bonavista Petroleum Ltd. Bought Deal TSE SYMBOL: BNP NOVEMBER 25, 1997 Bonavista Announcing $10 Million Equity Financing CALGARY, ALBERTA--(6:00 AM - MST)Bonavista Petroleum Ltd. ("Bonavista") announces today that it has entered into a Bought-Deal financing agreement with a syndicate of investment underwriters led by Newcrest Capital Inc. to issue 2.5 million Special Warrants at $4.00 each, with each Special Warrant being exchangeable into one common share of Bonavista for no additional consideration. This issue is subject to normal regulatory approval and closing is expected on or before December 11, 1997. Bonavista intends on filing a prospectus to qualify the distribution of common shares on exercise of the Special Warrants. Proceeds from this offering will be used to expand Bonavista's 1998 capital program to $25 Million and to fund the acquisition of certain operated gas processing facilities in existing producing areas.