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

To: Kerm Yerman who wrote (7842)	12/10/1997 8:01:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Golden Trend Petroleum Production Update ASE SYMBOL: GTP.A DECEMBER 9, 1997 Golden Trend's Daily Production Exceeds 700 BOEPD CALGARY, ALBERTA--Golden Trend Petroleum Ltd. presents an update on corporate production, which on December 9, 1997 exceeded 700 boepd. This volume is on target with Golden Trend's forecasted 1997 exit rate of 800 boepd. The latest increase is primarily due to the instigation of production from two gas wells in the Redwater field, in central Alberta. Both wells were drilled in 1994, and were shut-in by the previous operator due to lack of a pipeline. Golden Trend recently completed a pipeline to both wells and expects to bring one more well on production before the end of the year. Further increases in production from the Redwater field are expected from the Company's optimization and drilling program. Golden Trend holds a 50 percent interest and is the operator of the Redwater gas field. At Coutts, in southern Alberta, Golden Trend recently drilled and cased a new well located on a feature identified by a three-dimensional seismic program shot by the Company this past fall. This new well will be completed within the next few weeks. If the well is successfully completed as a Lower Mannville oil well, up to three more wells could be drilled as follow-up locations based on the three-dimensional seismic interpretation. Golden Trend holds a 65 percent operated interest in the new Coutts well and any follow-up locations. Golden Trend has grown through core area acquisitions, low-risk drilling and optimization activity, from 185 boepd in early December 1996 to over 700 boepd by December 9, 1997. In 1998, the Company intends to continue those activities while adding an exploration drilling component, which will target at least four new prospects.

To: Kerm Yerman who wrote (7842)	12/10/1997 8:04:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Maxwell Oil & Gas Drilling Update MAXWELL OIL & GAS LTD. ASE, VSE SYMBOL: MWL DECEMBER 9, 1997 Maxwell Gets Go Ahead to Drill at Wabamun Lake CALGARY, ALBERTA--The Board of Directors of Maxwell Oil & Gas is pleased to announce that the Alberta Energy and Utilities Board (AEUB) has approved an application by Maxwell for a licence to drill a horizontal well on the south side of Wabamun Lake, Alberta, from a surface location at 4-5-53-5W5M. The well will be drilled vertically to a depth of approximately 1,600 meters (5,250') before deviating horizontally northward under the lake for a distance of up to 1,200 meters (3,940'). Mr. Eric Stein, Vice-President of Exploration for Maxwell stated that "we are obviously pleased with the AEUB's decision, as it permits Maxwell the opportunity to explore and exploit an interpreted oil accumulation underlying Wabamun Lake, However, we acknowledge the fact that the well is proximal to the communities of South Seba Beach and Betula Beach and wish to reassure residents that the Company will, as always, be extremely diligent in meeting all regulatory requirements associated with the drilling of the subject well." By drilling horizontally, Maxwell is expecting to improve significantly on the initial 100 barrels of oil per day rates observed at two offset vertical wells. Maxwell controls a 75 percent working interest in approximately 10 sections of land in and around Wabamun Lake. Drilling is expected to commence in January, 1998. The Company also wishes to advise that a separate, west-central Alberta prospect in which the Company maintains a 75 percent working interest across approximately 6 sections of land will commence drilling later this week. The well will test a 60 meter (200') structural anomaly identified by recently acquired (and proprietary) seismic. Maxwell is an active oil and gas producer focused on the acquisition, exploration and development of crude oil and natural gas in Western Canada. The Company trades under the symbol "MWL" on the Alberta Stock Exchange.