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

To: Kerm Yerman who wrote (7884)	12/11/1997 8:43:00 PM
From: Arnie	Respond to of 15196

PROPERTY ACQUISITION / Newstar Res. acquires Interest in Louisiana TORONTO, Dec. 11 /CNW/ - Newstar Resources Inc. (NASDAQ: NERIF and TSE: NER) announces that it has acquired an interest in the following projects in Louisiana: 1. A 7 1/2% interest in a well presently being drilled in Lafayette Parish, Louisiana in a field which has cumulative production to date of 180 bcf of natural gas and 10 million barrels of condensate. The well is being drilled to test the Bol Mex Sand formation at a depth of 15,600 feet. The well is expected to reach target depth in late January, 1998. 2. A 25% interest in 3,000 acres which make up the South Lakeside Prospect located in Cameron Parish, Louisiana. Situated on the prospect is a well drilled in the second quarter of 1997 which confirmed the presence of a large subsurface structure, but cut an unexpected fault as it approached TD. On the basis of 2D and 3D seismic, the participants in this prospect plan to re-enter and sidetrack this well to further test the Miogyp formation at a depth of approximately 17,500 feet. In both projects, Newstar and its partners hope to encounter natural gas and condensate. Michigan-based Newstar Resources Inc. is an oil and gas exploration and production company with operations in Michigan, Ohio and Texas. The Company trades on the NASDAQ National Market System under the symbol NERIF and the Toronto Stock Exchange under the symbol NER. --------------- Certain statements in this news release regarding future expectations of reserve potential, production and drilling may be regarded as ''forward- looking statements'' within the meaning of the U.S. Litigation Reform Act. They are subject to various risks, such as the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas. Actual results may vary materially.

To: Kerm Yerman who wrote (7884)	12/11/1997 8:45:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Chieftain International updates Activities Stock Symbol: CID. Chieftain International, Inc. has a 25% interest in the East Cameron 349/350 field in the Gulf of Mexico, where Enserch Exploration, Inc., with a 37.5% interest, has announced the commencement of production. In the East Cameron 349/350 field, which also produces from Block 356, gross production is expected to reach 35 million cubic feet of gas and 3,200 barrels of oil and condensate per day when the fourth well in the field is brought online later this week. A fifth well is currently drilling. The initial discovery well was drilled in March 1996 and the production facility was installed in August 1997. Under a farmout arrangement with Mobil Exploration and Producing U.S. Inc., drilling of a deep test has commenced on Mobile Bay Block 914. The well will be drilled to 24,000 feet to test the Norphlet sandstone and is expected to reach total depth in approximately 140 days. Chieftain will retain an 18.75% interest in the well and the project. The U.S. Minerals Management Service has awarded Chieftain interests in all of the 13 offshore blocks for which the Company, either solely or with partners, submitted the high bid at the western Gulf of Mexico lease sale held in August 1997. The newly acquired leases are located on the Continental shelf and in the deep water of the Gulf of Mexico and bring the total number of blocks in which Chieftain has interests in to 147. Chieftain now anticipates that 1997 cash flow will decrease slightly from its initial estimate of US$58 million (C$83 million), to US$55 million (C$78 million), before dividends on preferred shares. The primary reason for the decline is delayed completion of pipeline connections to the Main Pass area. The pipeline construction project, designed to add additional capacity, is expected to be completed by mid-January 1998. This release contains forward-looking statements that are subject to risk factors associated with the oil and gas business. The Company believes that the expectations reflected in these statements are reasonable, but may be affected by a variety of variables including, but not limited to: price fluctuations, currency fluctuations, drill and production results, imprecision of reserve estimates, loss of market, industry competition, environmental risks, political risks, and capital restrictions.

To: Kerm Yerman who wrote (7884)	12/11/1997 8:47:00 PM
From: Arnie	Respond to of 15196

FINANCING / Rider Resources closes Private Placement CALGARY, Dec. 11 /CNW/ - Rider Resources Inc. is pleased to announce that it has closed a private placement of 310,200 Class A Common Shares with EnerVest FTS Limited Partnership Fund (1997). The shares were issued on a flow through basis and priced at $5.75 per share. Total proceeds from the issue is approximately $1.8 million. Rider intends to use the funds towards the financing of an aggressive drilling and development program over the 97/98 winter season. Rider's Class A shares are listed on The Toronto and Alberta Stock Exchanges under the symbol RRI.A.

To: Kerm Yerman who wrote (7884)	12/11/1997 8:51:00 PM
From: Arnie	Respond to of 15196

ACQUISITION / Roan Resources closes acquisition of Questar Exploration CALGARY, Dec. 11 /CNW/ - As previously announced, Roan Resources Ltd. (''Roan'') and Questar Exploration Inc. (''Questar'') now announce that Roan has closed its acquisition of 100 percent of Questar's Common Shares for $1.16 (Canadian) per share through an Amalgamation between Questar and a wholly-owned subsidiary of Roan. The total consideration paid by Roan to the holders of the Common Shares of Questar was $37.8 million (Canadian), based on the fully-diluted number of Questar shares of 32.6 million. The transaction was approved by 99% of the votes cast by holders of Questar Common Shares at a Special Meeting convened on December 10, 1997, to consider Roan's proposal. The holders of 20.2 million Common Shares of Questar, representing 65.4% of the outstanding Questar Common Shares agreed to vote the Common Shares held by them in favour of Roan's proposal at the Special Meeting. Pursuant to the Merger Agreement, certain properties of Questar were sold to a third party in conjunction with the transaction, on terms negotiated by Roan, and certain additional properties will be sold to third parties, on terms negotiated by Roan. One of these transactions is a purchase by RayQuest Holdings Ltd., a former holder of approximately 9.2 million Common Shares of Questar, of certain producing and non-producing properties of Questar located in Saskatchewan. Questar is now a wholly-owned subsidiary of Roan and as a consequence, its shares will be delisted from The Toronto Stock Exchange. The Montana Power Company is a diversified, investor owned energy corporation, with annual sales of $1 billion (US); its lines of business include electricity, natural gas and telecommunications.

To: Kerm Yerman who wrote (7884)	12/11/1997 8:54:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / T & H Resources updates Drilling Listed: TSE Symbol: THE TORONTO, Dec. 11 /CNW/ - Drilling Stopped - West Cameron 18 Project ------------------------------------------ T & H Resources Ltd. (''T & H'') has been advised by the operator of the West Cameron 18 Project, offshore Louisiana that, subsequent to reaching the 15,077 foot depth on the exploratory well and examining logs, the geological structure is not that which was anticipated and it has recommended that drilling be ceased. T & H Resources Ltd. (''T & H'') had the right to acquire a 6 2/3% working interest before payout in the project by paying 8% of the initial drilling costs. South Fort Stockton Project --------------------------- Further to its press release of November 25th, 1997, T & H now expects a spud date by the end of this month on the Fort Stockton Project. Site preparation has commenced. The initial exploratory well will be drilled by Midland, Texas based Baytech, Inc. to bottom hole at a depth of 26,000 feet. The primary drilling objective will be the Ellenburger Formation with the secondary objective being the Devonian Formation. The adjacent Gomez Field to the northwest has produced 4.7 trillion cubic feet (''TCF'') of the 7 TCF of recoverable reserves while the adjacent McComb Field to the north has produced 30 billion cubic feet (''BCF'') of the 160 BCF of recoverable reserves and the Puckett Field 15 miles to the southeast has produced 3.8 TCF of 5 TCF recoverable reserves. T & H has a right to acquire a 20% working interest in the initial well and a 15% working interest in the contract lands. T & H's interest in the initial well is subject to Baytech's 25% back-in after payout. T & H must meet original listing requirements by February 6, 1998 to maintain its Toronto Stock Exchange listing.

To: Kerm Yerman who wrote (7884)	12/11/1997 9:01:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

SERVICE SECTOR / BJ Services Company announces Stock Split HOUSTON, Dec. 11 /CNW/ -- BJ Services Company (NYSE: BJS; CBOE) announced today that its Board of Directors has approved a 2 for 1 stock split to be effected in the form of a stock dividend. The stock split is subject to shareholder approval of an amendment to the Company's charter increasing the number of authorized shares. If the charter amendment is approved by stockholders at their annual meeting on January 22, 1998, the stock dividend will be distributed on or about February 20, 1998 to stockholders of record as of January 30, 1998. BJ Services Company is a leading provider of pressure pumping and other oilfield services to the petroleum industry.

To: Kerm Yerman who wrote (7884)	12/11/1997 9:03:00 PM
From: Arnie	Respond to of 15196

PROPERTY / Amber Energy announces Pelican Lake Land Acquisition CALGARY, Dec. 11 /CNW/ - Amber Energy Inc. (''Amber'') announces that it has acquired 100% working interest in 102 sections of Crown Oil Sands Development Leases in the Wabasca/Pelican Lake area of Alberta for $16,907,000. Amber now owns an average 98% working interest in 313.5 sections (305.7 net sections) of contiguous Crown Oil Sands Development Leases in the Pelican Lake area. Amber is an independent Canadian oil and gas exploration, development and production company with common shares trading on The Toronto Stock Exchange and The Alberta Stock Exchange under the symbol AMB.

To: Kerm Yerman who wrote (7884)	12/11/1997 9:06:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

CORP. / PanCanadian Petroleum names New President of National Gas and Electric CALGARY, Dec. 11 /CNW/ - PanCanadian Petroleum Limited is pleased to announce the appointment of W. Craig Elias as President of the company's U.S. marketing arm, National Gas & Electric L.P. in Houston, Tex. Elias joins NG&E after holding several senior posts in the gas marketing business, most recently as President and Chief Operating Officer of NorAm Energy Services, Inc. of Houston. His 25-year career has included several executive positions in The Coastal Corporation of Houston. ''We are delighted to have attracted such an experienced and entrepreneurial executive to lead our North American marketing operations,'' said Nancy Laird, PanCanadian's Group Vice President Marketing. ''Together with PanCanadian's tremendous production capacity and Canadian marketing expertise, we are confident Craig will grow our gas and electric sales across the continent.'' ''PanCanadian enjoys a strong reputation for profitable growth and I plan to continue that tradition as the company builds its energy marketing presence across North America,'' Elias said. National Gas & Electric is a rapidly growing marketer and trader of natural gas and electricity in all major regions of the United States. With regional offices in Chicago, Ill., San Francisco, Calif., Madison, Wis., Mobile, Ala., Austin, Tex. and Atlanta, Ga., NG&E has widespread market reach and sells more than one billion cubic feet of gas per day. PanCanadian is one of Canada's largest producers and marketers of crude oil, natural gas and natural gas liquids. Its extensive exploration and production activities stretch from coast to coast in Canada and include a variety of international interests in the Gulf of Mexico, the United Kingdom, Australia, South Africa and Venezuela. PanCanadian Petroleum Limited Nancy Laird Group Vice President Marketing PanCanadian Petroleum Limited Shares Listed - Symbol: PCP Toronto Stock Exchange Alberta Stock Exchange Montreal Exchange

To: Kerm Yerman who wrote (7884)	12/11/1997 9:11:00 PM
From: Arnie	Read Replies (2) \| Respond to of 15196

FINANCING / Canrise Resources completes Special Warrant Prospectus Canrise Resources Ltd. announced today that it has received receipts from the Alberta, Manitoba and Ontario securities commissions for a final prospectus, dated December 9, 1997. The final prospectus qualifies the distribution of 3,000,000 common shares which are issuable upon the exercise of 3,000,000 special warrants sold by the Corporation on October 7, 1997. ScotiaMcLeod Inc., FirstEnergy Capital Corp. and Peters & Co. Limited acted as underwriters in connection with the distribution of the Special Warrants. With the filing of the final prospectus, the gross proceeds from the sale of the special warrants ($24,000,900) is releasable to the Corporation. Such proceeds will ultimately be used by the Corporation to fund additional exploration, development and other capital expenditures and to fund working capital requirements. Until expenditures are actually incurred, the proceeds from the sale of the special warrants will be used to reduce existing bank debt. Unless previously exercised, all outstanding special warrants will be deemed to be exercised into common shares of the Corporation on December 17, 1997, which will increase the total number of issued and outstanding shares of the Corporation to 17,614,998. Canrise Resources Ltd. is an Alberta based corporation engaged in the business of evaluating and acquiring oil and natural gas properties and exploring for, developing and producing petroleum substances in western Canada. The common shares of the Corporation trade on the Toronto Stock Exchange under the symbol "CRE". FOR FURTHER INFORMATION PLEASE CONTACT: Peter J. Kurceba, P. Geol. President and Chief Executive Officer Toll-free Telephone: 1-888-262-3385 Direct Telephone: (403) 262-0840 Direct Fax: (403) 262-1485 INTERNET ADDRESS: www.canrise.com OR David M. Fisher, CA Vice President, Finance and Chief Financial Officer Toll-free Telephone: 1-888-262-3385 Direct Telephone: (403) 262-0842 Direct Fax: (403) 262-1485 E-MAIL ADDRESS: dfisher@canrise.com

To: Kerm Yerman who wrote (7884)	12/11/1997 9:13:00 PM
From: Arnie	Read Replies (2) \| Respond to of 15196

FIELD ACTIVITIES / GHP Exploration updates Drilling Results GHP Exploration Corporation (CDN:GHPX.U) today announced that the Donner #1 well located in southern Newton County, Texas, operated by GHP and in which GHP has a 72% working interest and a 54% net revenue interest (News-November 25,1997), has reached total depth. The GHP Donner #1 was drilled to a total depth of 7,662 feet. The well encountered four hydrocarbon bearing zones in the Frio formation between 6,900 and 7,500 feet. Production casing has been run to total depth and the well is being prepared for completion. Additional details will be made available as the well is completed and tested over the next several weeks. The Company also announced today it has plugged and abandoned the West Cameron 18 #1 well at a total depth of 15,077 feet. The well encountered severe hole problems while drilling towards the proposed total depth of 16,000 feet, resulting in wellbore conditions which forced the logging and evaluation to be conducted with a "logging while drilling" (LWD) tool as opposed to more conventional and higher quality wireline logs and tests. Although the LWD tool indicated the presence of potential hydrocarbon bearing sands, the well was considered non-commercial on the basis of the data obtained. Additional evaluation of the prospect will likely be conducted to determine the remaining potential on the block. GHP has an 8.571% working interest in the well. Additionally, the West Delta 78 (News-August 11, 1997) and the Sud Nefta #1 (News-September 8, 1997) wells are still drilling to objective depth. GHP engages in the exploration for and development and production of crude oil and natural gas in the United States and Internationally with operations and interests in acreage in the Gulf of Mexico, onshore Texas, Utah and in Tunisia. The Company currently has 17.4 million common shares outstanding. (NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.) Contacts: George H. Plewes - (604) 669-2525 Barry D. Lasker - (713) 626-9373 Internet: ghpexploration.com

To: Kerm Yerman who wrote (7884)	12/11/1997 9:15:00 PM
From: Arnie	Read Replies (12) \| Respond to of 15196

FINANCING / Archer Resources announces Flow-Through Share Issue Archer Resources Ltd. announces it has completed a private placement of 845,070 flow-through common shares for net proceeds of Cdn. $6 million. The proceeds of the share issue will be used to fund ongoing exploration drilling and seismic programs. The issuance of these shares is subject to regulatory approval. Archer's common shares trade through the facilities of The Toronto Stock Exchange under the symbol "ARC". The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein. For further information please contact: Grant A. Bartlett Chairman & CEO Telephone: (403) 266-5522 Fax: (403) 232-6008 Wayne Foo President & COO Telephone: (403) 298-5593 Fax: (403) 232-6008 Bill Hogg Vice President Finance & CFO Telephone: (403) 298-5510 Fax: (403) 232-6008