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To: Arnie who wrote (7866)	12/11/1997 5:35:00 AM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITIONS / Richland Announces Property Acquisition, Updates New Discoveries TSE, ASE SYMBOL: RLP.A DECEMBER 10, 1997 CALGARY, ALBERTA--Richland Petroleum Corporation today announced that it has signed an agreement for the acquisition of 16.5 net sections of land in the Bienfait area of southeastern Saskatchewan for $3.9 million with closing to occur in early January. The lands currently have 3 vertical wells and 1 horizontal well, producing 150 barrels per day from the Midale Marly and Midale Vuggy zones. Development plans call for the optimization of the current wells and the drilling of up to 5 dual leg horizontal wells, projected to increase production from the property to approximately 600 barrels per day by mid-year 1998. At Kingsford, in southeastern Saskatchewan, the recent discovery well has now been put onstream, at production rates of 1,200 barrels of oil per day (Richland interest = 50 percent) on restricted choke from the Red River zone. A second well has been completed in the Winnipegosis zone and is currently flowing at rates of approximately 600 barrels of oil per day. It is expected that sustainable production rates from the Winnipegosis will settle out at approximately 400 barrels of oil per day. Follow up drilling locations are being evaluated for possible drilling in 1998. At Crossfield, in west central Alberta, the discovery well has been tied in and is producing from the Elkton formation at gross rates of approximately 7 million cubic feet per day plus 150 barrels per day of natural gas liquids (Richland interest = 33 percent). The second well tested at rates of 2 - 4 million cubic feet per day and a third well is being drilled horizontally into the structure. Current corporate production levels exceed 4,100 barrels equivalent per day. Base case projections for 1998 indicate growth of at least 18 percent in both production and cash flow. Production is forecast at 4,200 barrels equivalent per day. These projections do not include incremental production from the development drilling at Bienfait, nor any 1998 exploratory success. An active drilling program is planned for 1998, both in Alberta and southeastern Saskatchewan. Numerous Red River opportunities are being explored, subsequent to the 1997 drilling successes at Clarilaw and Kingsford. Four 3-D seismic shoots are currently under way, two of which are being jointly conducted by Berkley Petroleum Corporation on land offsetting their recently-announced Red River discovery well, which was reported to have tested at 4,200 barrels per day. Richard Todd, President and Chief Executive Officer of Richland applauded the new production growth, saying "We are pleased to see production growth return to Richland. We are confident that our base case 1998 production forecast of 4,200 barrels per day, which represents growth of 18 percent over 1997, is realistic and conservative, as year-end 1997 exit rates should exceed that level. With these new production volumes, Richland has replaced its 1998 production declines, even before the year begins. With additional production anticipated from a successful drilling program on the newly-acquired Bienfait lands, 1998 is looking like it will be a very good year for Richland!" Richland Petroleum Corporation is a public company involved in the exploration and development of crude oil and natural gas in western Canada and the United States. Its shares trade on the Alberta and Toronto Stock Exchanges under the symbol "RLP.A".

To: Arnie who wrote (7866)	12/11/1997 5:37:00 AM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Mesquite Resources Inc. Closes Acquisition of Oil and Gas Assets ASE SYMBOL: MQT DECEMBER 10, 1997 CALGARY, ALBERTA--Mesquite Resources Inc. ("Mesquite") announced today that it has completed the purchase of certain oil and gas assets from a private oil and gas corporation for a purchase price of $1,700,000. The assets include 98 BOEPD and 12,500 net acres of undeveloped lands. The reserves in respect of producing properties were independently evaluated at 152,600 BOE on a proved plus one-half probable basis. The purchase price was funded with cash of $1,400,000, which was raised through a combination of cash on hand, bank financing and third party financing from Macon Resources Inc. ("Macon"), and the issuance of 1,000,000 common shares from treasury. This acquisition is expected to increase Mesquite's daily production to 263 BOEPD. In connection with the acquisition, Mesquite has entered into a financing arrangement and joint venture agreement with Macon. Pursuant to the terms of an Investment Offer, Macon has agreed to loan Mesquite up to a maximum of $1,200,000 by way of a convertible debenture, bearing interest at 8 percent per annum for five years with a conversion price of $0.35 per share for years one and two and escalating thereafter as required by The Alberta Stock Exchange. The debenture, is convertible at any time at the option of Macon. The debenture is redeemable at the option of Mesquite on 30 day's prior notice in the event that the 20 day weighted average trading price of the common shares of Mesquite exceeds the conversion price by 20 percent or more. In addition, Macon is entitled to receive one share purchase warrant at a price of $0.40 per share for each three common shares acquired upon conversion of the debenture. The issuance of the convertible debenture by Mesquite is conditional upon the approval of The Alberta Stock Exchange. Mesquite is also continuing its private placement of up to 1,900,000 Special Warrants. Each Special Warrant entitles the holder to acquire two flow-through common shares and one common share purchase warrant for a purchase price of $0.65 per Special Warrant. Canaccord Capital Corporation is acting as agent in respect of this private placement. Mesquite is a Canadian junior oil and gas corporation based in Calgary, Alberta and is listed on The Alberta Stock Exchange under the symbol "MQT".

To: Arnie who wrote (7866)	12/11/1997 5:46:00 AM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Schlumberger Limited Sedco Forex and Elf Sign Letter of Intent for New-generation, Deepwater Semisubmersible FOR: SCHLUMBERGER LIMITED NYSE SYMBOL: SLB DECEMBER 10, 1997 NEW YORK, NEW YORK--Schlumberger Limited announced today that its Sedco Forex business unit received a letter of intent from Elf Aquitaine for a drilling contract covering five years for the new-generation Sedco Express(a) deepwater semisubmersible, starting offshore West Africa in the fourth quarter of 1999. The innovative features of this new rig will greatly reduce the time required to construct wells and ensure environmentally safer operations. The Sedco Express rig is a fully integrated drilling unit incorporating well construction services such as wireline logging, cementing, drilling fluids, and measurements-while-drilling and logging-while-drilling services, all managed from a single well construction center. It has a water depth capability of 7500 feet. The rig's three 2200-horsepower, 7500 psi integrated mud and cement pumps together with its versatile mud system reduce overall mud costs and significantly increase penetration rates. The rig's layout and drilling processes are designed to minimize health, safety and environmental risk. Sedco Forex engineers are implementing zero-discharge, fail-safe containment systems and noise- and vibration-abatement technology that provide a more comfortable and healthy working environment for crews. Double-skinned columns and pontoons, modularized deck components and automated pipe-handling systems reduce hazards and improve efficiency. Significant improvements in the rig's drilling performance will be made possible by minimizing non-productive time, thereby improving the overall well construction time. An unobstructed deck area allows the rig to store all the tubulars needed for deepwater drilling. A 200-foot derrick with dual pipe-handling/racking machines and makeup stations cuts pipe-handling time significantly. Sedco Forex is a leader in land and offshore contract drilling services, with an extensive fleet of semisubmersibles, jackup rigs, tenders, swamp barges, multipurpose service vessels and land rigs. Sedco Forex currently operates 27 semisubmersibles, four of which are dynamically positioned and eight equipped to operate in water depths of 3000 feet or more. Schlumberger is an international company and worldwide leader in oilfield services and measurement and systems with 60,000 employees and current operations in over 100 countries. In 1996, revenue was $8.96 billion. For further information, contact: Claude Suter, Paris, (33-1)4062-1330, suter@paris.sl.slb.com Gary Yamamoto, New York, (1-212)350-9405, yamamoto@new-york.sl.slb.com (a)Mark of Schlumberger

To: Arnie who wrote (7866)	12/11/1997 5:48:00 AM
From: Herb Duncan	Respond to of 15196

EARNINGS / Extreme Energy Announces Financial Results FOR: EXTREME ENERGY CORPORATION ASE SYMBOL: EXT DECEMBER 10, 1997 CALGARY, ALBERTA--EXTREME ENERGY CORPORATION announces financial results for the nine months ended September 30, 1997. Highlights as follows: /T/ FINANCIAL HIGHLIGHTS SEPTEMBER 30, 1997 Current Assets 188,020 Petroleum Properties (net) 430,651 Liabilities 29,830 Shareholders' Equity 588,841 Net Income (loss) (11,251) Funds used in operations (4,473) Cash, end of period 161,629 /T/ In other news, EXTREME ENERGY CORPORATION announces that it has completed a private placement of 1,200,000 Flow Through Common Shares at a price of $0.45 per share, for gross proceeds of $540,000.00. The Corporation intends to use the proceeds to finance ongoing exploration activities on the Corporation's oil and gas properties. EXTREME ENERGY CORPORATION is a public company with shares trading on the Alberta Stock Exchange under the trading symbol of "EXT".

To: Arnie who wrote (7866)	12/11/1997 5:52:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Texalta Petroleum Ltd. West Queensdale Well update FOR: TEXALTA PETROLEUM LTD. ASE SYMBOL: TEX.A DECEMBER 10, 1997 CALGARY, ALBERTA--Texalta Petroleum Ltd. is in the process of completing a development well at West Queensdale, Saskatchewan. (7-26-6-2 W2M) After acid stimulation the well has been swab tested at a rate of 4 cubic meters per hour. This testing is accompanied by significant flows of natural gas from the 5 meter perforated interval. The well will be placed on pump next week and a stabilized production rate will be announced at that time. In the meantime the company is very pleased with this preliminary result.

To: Arnie who wrote (7866)	12/11/1997 5:56:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Pioneer Natural Resources Announces Promotion of Garrett Smith to Executive Vice President and Chief Financial Officer FOR: PIONEER NATURAL RESOURCES COMPANY NYSE SYMBOL: PXD DECEMBER 10, 1997 DALLAS, TEXAS--Pioneer Natural Resources Company announced that its board of directors has approved the appointment of M. Garrett Smith as executive vice president and chief financial officer, effective Dec. 5, 1997. Scott Sheffield, Pioneer's chief executive officer, stated that the post will be critical in building Pioneer into the premier oil and gas exploration and production company. Smith, CFA, has been associated with Pioneer since its inception as senior vice president -- finance, reporting directly to Sheffield. He previously served in MESA's top financial group for over seven year, most recently as vice president -- corporate acquisitions, vice president -- finance, and before that as director -- financial planning. Smith, 36, has an undergraduate degree from The University of Texas and an MBA from Southern Methodist University. According to Sheffield, "Garrett Smith's primary focus will be developing the financial tools necessary for the company to allocate capital among the several hundred projects Pioneer considers annually." Pioneer was formed in August of this year through the merger of Parker & Parsley Petroleum Company and MESA Inc. With the expected year-end acquisition of Chauvco Resources, Pioneer will be the second largest independent oil and gas exploration and production company in the U.S., with approximate reserves of 4.6 trillion cubic feet of gas equivalents.

To: Arnie who wrote (7866)	12/11/1997 5:58:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Northrock Resources Announces Formation of Progress Energy FOR: NORTHROCK RESOURCES LTD. TSE SYMBOL: NRK AND PROGRESS ENERGY LTD. DECEMBER 10, 1997 CALGARY, ALBERTA--Northrock Resources Ltd. ("Northrock") is pleased to announce the formation of Progress Energy Ltd. ("Progress"), a new junior oil and gas company. To establish an initial base of operations, the companies have entered into an agreement for Progress to purchase Northrock's Rocanville and Birdtail properties located in southeast Saskatchewan and southwest Manitoba. The current net production that will be sold, effective November 1, 1997, is 325 barrels per day of light crude oil. In addition, approximately 180,000 net acres of undeveloped land in the area will be part of the sale. A recently updated reserve report prepared by McDaniel & Associates Consultants Ltd. places the total reserves at 1.2 million barrels of crude oil. Northrock will receive $5.6 million cash and 6 million common shares of Progress at a price of $0.50 per share, for a total initial consideration of $8.6 million. With the share position, Northrock will maintain majority ownership in Progress and exposure to the growth potential of this asset. Northrock's objective is to realize the maximum value for these assets and for its shareholders by holding an equity ownership in Progress. Progress will focus specifically on these assets which were becoming a lower priority in Northrock's current opportunity base. The purchase brings to Progress a high quality asset base with substantial development and exploration potential. In addition to a number of development drilling locations, a waterflood on the existing Rocanville pool has been implemented and production rates are increasing. As well, exploration opportunities exist on the undeveloped land base with several general drilling locations having already been identified. A drilling rig has been contracted for the winter drilling program. Progress is a newly formed public company that has filed a preliminary prospectus with the Alberta Securities Commission. Closing of the initial public offering is expected by December 31, 1997. Northrock is a an oil and gas company listed on The Toronto Stock Exchange trading under the symbol "NRK".

To: Arnie who wrote (7866)	12/11/1997 6:03:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Tarragon Oil and Gas Announces Share Issue Agreements FOR: TARRAGON OIL AND GAS LIMITED TSE, ME SYMBOL: TN DECEMBER 10, 1997 CALGARY, ALBERTA--Tarragon Oil and Gas Limited announces that it has entered into agreements with Triax Resource Limited Partnership and Triax Resource Limited Partnership II to issue a combined one million shares at $14.50 per share on a flow-through basis.

To: Arnie who wrote (7866)	12/11/1997 6:06:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Abacan Resource Corporation Continues to Explore Strategic Alternatives FOR: ABACAN RESOURCE CORPORATION TSE SYMBOL: ABC NASDAQ SYMBOL: ABACF DECEMBER 10, 1997 CALGARY, ALBERTA--Abacan Resource Corporation announces that it is continuing to explore strategic alternatives for the Company's extensive inventory of exploration and development prospects located offshore West Africa, with the assistance of Morgan Stanley & Co. Incorporated, New York. These alternatives could include additional financing, a joint venture or a business combination under the appropriate circumstances. The Company also announces that drilling on the Ima #9 well continues and it anticipates being at total depth in the near future. The well is being drilling to the North Ima Field, which was discovered in July, 1997 by the company's Ima #6 well. Certain statements in this News Release constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

To: Arnie who wrote (7866)	12/11/1997 6:09:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Petro Plus - Westside Drilling Commences FOR: PETRO PLUS INC. ASE SYMBOL: PPV.A DECEMBER 10, 1997 LA RONGE, SASKATCHEWAN--Management is pleased to announce that a two-hole, 100 metre diamond drill program has commenced on the Corporation's 100 percent owned Westside Property located 5 kilometres west of Cameco's Contact Lake Gold Mine. The holes are planned to test part of a 3.8 kilometre long mineralized horizon, which was discovered by Homestake Canada during a 1991 mapping program. The horizon varies from 1 to 50 metres in width, with rock samples from the horizon returning anomalous concentrations of zinc, molybdenum, cobalt, cromium, copper, and gold. Results will be released as soon as available. On behalf of the Board, Randy T. Studer, President & C.E.O.

To: Arnie who wrote (7866)	12/11/1997 6:13:00 AM
From: Herb Duncan	Respond to of 15196

CORP-SPEC 12 COMPANIES / Prize Energy Inc. Annual General Meeting of Shareholders Rescheduled FOR: PRIZE ENERGY INC. ASE SYMBOL: PZI DECEMBER 10, 1997 CALGARY, ALBERTA--PRIZE ENERGY INC. announced today that, as a result of mailing delays during the recent postal disruption, its Annual General Meeting of Shareholders, originally scheduled for Monday, December 22, 1997, has been rescheduled to Monday, January 5, 1998 at 3:00 p.m. (Calgary time). Information relating to the meeting is currently being mailed to shareholders. Prize Energy Inc. (PZI) is an independent exploration and production company with operations in Western Canada.

To: Arnie who wrote (7866)	12/11/1997 6:16:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Meridian Energy Announce Private Placement FOR: MERIDIAN ENERGY CORPORATION VSE, ASE SYMBOL: MDG DECEMBER 10, 1997 CALGARY, ALBERTA--MERIDIAN ENERGY CORPORATION (the "Company") is pleased to announce that it has agreed with Triax Resource Limited Partnership ("Triax"), subject to final documentation, to issue to Triax 1,000,000 special warrants to acquire 1,000,000 Flow-Through Shares at a price of $0.50 per Flow- Through Share representing aggregate subscription proceeds of $500,000 (the "Triax Private Placement"). The Triax Private Placement is expected to close on or before December 31, 1997. The closing of the private placement is subject to the approval of the Vancouver Stock Exchange and the Alberta Stock Exchange. The Company also wishes to announce that the private placement of up to $2,000,000 of Flow-Through Units and Ordinary Units announced on December 1, 1997 has been modified. The offering will now be on the same terms and conditions as previously announced except that the securities issued will be special warrants to acquire the underlying flow-through and ordinary Common Shares and share purchase warrants. The Company intends to file a prospectus under the relevant securities laws of British Columbia and Alberta in order to qualify the issue of the Common Shares and warrants as free-trading shares and warrants. The Company has agreed to use reasonable commercial efforts to have the prospectus receipted by the relevant jurisdictions on or before May 1, 1998. The shares to be issued pursuant to the Triax private placement may also be qualified for issue under the same prospectus. ON BEHALF OF THE BOARD OF DIRECTORS OF MERIDIAN ENERGY CORPORATION Fred Thompson, President

To: Arnie who wrote (7866)	12/11/1997 6:20:00 AM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / EnerVest FTS Limited Announces Closing of Initial Public Offering FOR: ENERVEST FTS LIMITED PARTNERSHIP FUND (1997) DECEMBER 10, 1997 CALGARY, ALBERTA--EnerVest FTS Limited Partnership Fund (1997)(the "Partnership") announced today the final closing of its initial public offering. The closing was for 260 limited partnership units at $1,000 per unit of gross proceeds from the offering of $260,000. The aggregate gross proceeds raised by the Partnership to date are $22,054,000. The limited partnership units were offered for sale to the public in the provinces of Alberta, British Columbia, Saskatchewan, Manitoba, Ontario and Quebec by a syndicate led by Research Capital Corporation and Midland Walwyn Capital Inc. and included RBC Dominion Securities Inc., CIBC Wood Gundy Securities Inc., Fortune Financial and DPM Securities Inc. The proceeds of the offering will be invested by the Partnership in flow-through shares or flow-through convertible securities of companies involved in oil and gas exploration and development in Canada. The Partnership's investment objective is for its Limited Partners to obtain benefits from certain tax deductions and to achieve capital appreciation through investment in a portfolio of equity or equity-linked securities with companies involved in oil and gas exploration and development in Canada. The Partnership's investment portfolio will be actively managed by Morrison Williams Investment Management Ltd. to obtain this objective.

To: Arnie who wrote (7866)	12/11/1997 6:24:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Pioneer Natural Resources Company Announcement FOR: PIONEER NATURAL RESOURCES COMPANY NYSE SYMBOL: PXD DECEMBER 10, 1997 DALLAS, TEXAS--Pioneer Natural Resources Company announced that its board of directors has approved the appointment of M. Garrett Smith as executive vice president and chief financial officer, effective Dec. 5, 1997, in an official acknowledgement of the function he has been performing since the company was formed in August of this year. Smith, CFA, has been senior vice president -- finance, reporting directly to Scott Sheffield, Pioneer's chief executive officer. He previously served in MESA's top financial group for over seven years, most recently as vice president -- corporate acquisitions, vice president -- finance, and before that as director -- financial planning. Smith, 36, has an undergraduate degree from The University of Texas and an MBA from Southern Methodist University. Sheffield stated that the post will be critical in building Pioneer into the premier oil and gas exploration and production company. According to Sheffield, "Garrett Smith's primary focus will be developing the financial tools necessary for the company to allocate capital among the several hundred projects Pioneer considers annually." Pioneer was formed in August of this year through the merger of Parker & Parsley Petroleum Company and MESA Inc. With the expected year-end acquisition of Chauvco Resources, Pioneer will be the second largest independent oil and gas exploration and production company in the U.S., with approximate reserves of 4.6 trillion cubic feet of gas equivalents.

To: Arnie who wrote (7866)	12/11/1997 6:31:00 AM
From: Herb Duncan	Respond to of 15196

PIPELINES / Westcoast Energy: Union Gas and Centra Gas Sign Amalgamation Agreement NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: WESTCOAST ENERGY INC. TSE, ME, VSE SYMBOL: W NYSE SYMBOL: WE DECEMBER 10, 1997 VANCOUVER, BRITISH COLUMBIA--Westcoast Energy Inc. and its subsidiaries, Union Gas Limited and Centra Gas Ontario Inc., today announced that Union and Centra have signed an amalgamation agreement relating to the amalgamation of Union and Centra. The amalgamation is expected to be effective on January 1, 1998. The amalgamated company will be known as Union Gas Limited and will carry on the business formerly conducted by Union and Centra. Since 1994, Union and Centra have been operating under a shared services agreement which has resulted in combined cost savings totalling approximately $14 million per year. The amalgamation will result in additional operating efficiencies which will benefit customers and position the company well for changes in the North American energy industry. The amalgamation will have no effect on Westcoast's ownership interest in Union and Centra. The amalgamation has been approved by the Lieutenant Governor in Council of the Province of Ontario, on the recommendation of the Ontario Energy Board, and has also been approved by the committees of independent directors of each of Union and Centra. Union Gas Limited and Centra Gas Ontario Inc. are wholly owned subsidiaries of Westcoast Energy Inc. (TSE:W; NYSE:WE). Headquartered in Vancouver, British Columbia, Westcoast Energy's interests include natural gas gathering and processing facilities, gas transportation and storage facilities, gas distribution companies as well as power generation, international and energy services businesses. The Company has assets in excess of $9.6 billion and employs approximately 6,000 people.

To: Arnie who wrote (7866)	12/11/1997 6:36:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Increased Dividend Declared on TransCanada Common Shares FOR: TRANSCANADA PIPELINES LIMITED NYSE, TSE, ME, ASE, VSE, WINNIPEG STOCK EXCHANGE SYMBOL: TRP DECEMBER 10, 1997 CALGARY, ALBERTA--The board of directors of TransCanada PipeLines Limited today declared an increased quarterly dividend of 31 cents per share on the outstanding common shares for the quarter ending December 31, 1997. The new dividend represents an increase of seven per cent over dividends of 29 cents per common share paid in the first, second and third quarters of 1997. It is the 136th consecutive dividend paid by TransCanada on its common shares and is payable on January 30, 1998 to shareholders of record at the close of business on December 31, 1997. The board also declared regular dividends on TransCanada's preferred shares for the quarter ending February 1, 1998. The following dividends are payable February 1, 1998 to shareholders of record at the close of business on December 31, 1997. Dividend No. 127 was declared on the $2.80 Cumulative Redeemable First Preferred Shares in the amount of 70 cents per share. Dividend No. 24 was declared on the Cumulative Redeemable First Preferred Shares Series O in the amount of $0.9875 per share. Dividend No. 22 was declared on the Cumulative Redeemable First Preferred Shares Series P in the amount of $0.96875 per share. Dividend No. 13 was declared on the Cumulative Redeemable Retractable First Preferred Shares Series Q in the amount of $0.81875 per share. Dividend No. 9 was declared on the Cumulative Redeemable Retractable First Preferred Shares Series R in the amount of $0.74375 per share. TransCanada PipeLines Limited is one of North America's leading transporters of natural gas through its energy transmission businesses. TransCanada also operates significant complementary businesses in energy marketing and energy processing in North America, and is extending its operations internationally. VISIT TRANSCANADA'S INTERNET SITE: transcanada.com