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

To: Arnie who wrote (7892)	12/12/1997 8:50:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. / Canadian Fracmaster Normal Course Issuer Bid. CANADIAN FRACMASTER LTD. CALGARY, Dec. 12 /CNW/ - CANADIAN FRACMASTER LTD. announces that the Toronto Stock Exchange has accepted a notice filed by the Corporation of its intention to make a normal course issuer bid. The notice provides that as of December 5, 1997, the Corporation has 42,955,457 common shares issued and outstanding and that the Corporation may, during the twelve-month period commencing December 16, 1997 and ending December 15, 1998, purchase on the Toronto Stock Exchange up to 2,147,000 common shares of the Corporation, being approximately 5% of the currently outstanding common shares. The price which the Corporation pays for any such shares, the actual number of common shares purchased and the timing of any such purchases, will be determined by the Corporation during the course of the normal course issuer bid. The Corporation believes that its common shares have been trading in a price range which does not adequately reflect their value in relation to the Corporation's business, its improved financial results, and its future business prospects. As a result, depending upon future price movements and other factors, the Corporation believes that the acquisition and cancellation of up to 2,147,000 of its common shares at prices less than what the Corporation believes is the value of those shares is in the best interests of the Corporation and its remaining shareholders. Canadian Fracmaster Ltd. is an international oil and gas service and production company listed on the Toronto, Montreal and Alberta Stock Exchanges and trades under the symbol ''CFC''.