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

To: Arnie who wrote (7893)	12/12/1997 7:04:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Colony Energy Private Placement COLONY ENERGY LTD. (CYG/ASE) CALGARY, Dec. 11 /CNW/ - Colony Energy Ltd. (''Colony'' or the ''Company'') announced today that Griffiths McBurney & Partners has agreed to underwrite the issue and sale on a private placement basis, of an aggregate of 6 million special warrants at a price of $2.10 per special warrant. The underwriters will also have an over-allotment option for additional special warrants at the same price. Griffiths McBurney & Partners will lead a syndicate which will include Newcrest Capital Inc., Peters & Co. Limited, Midland Walwyn Inc. and Canaccord Capital Corporation. The special warrant offering is scheduled to close on January 8, 1998. Colony also announced that it intends to issue on a private placement basis, up to 2.5 million flow through common shares at $2.50 per share to close on December 18, 1997. Colony will use the net proceeds from the issuance of these securities to fund a portion of its proposed capital expenditures. The closing of these transactions is subject to obtaining all necessary regulatory and stock exchange approvals.

To: Arnie who wrote (7893)	12/12/1997 3:45:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

PROPERTY ACQUISITION / Neutrino Resources Asset Swap NEUTRINO ANNOUNCES INCREASED WORKING INTEREST IN INVERNESS/SWAN HILLS CALGARY, Dec. 12 /CNW/ - Calgary-based Neutrino Resources Inc. today announced the signing of a letter agreement under which Neutrino would exchange a 27% working interest in its non-operated Handsworth field in Saskatchewan for an increased working interest in its operated Inverness property at Swan Hills, Alberta. David Beckwermert, Executive Vice-President of Neutrino, reported the agreement, signed with a senior energy producer in Calgary, would provide Neutrino an additional 22% interest in its existing operated property at Inverness, bringing Neutrino's total working interest to approximately 95%. He indicated the letter agreement is scheduled to close on December 22, 1997, with an effective date of November 1, 1997. Beckwermert said ''We are pleased we were able to increase our working interest in a core area which is demonstrating considerable potential for Neutrino. Although the non-operated Handsworth field has been an important project for us in the past, we believe this swap provides us with an opportunity to increase our working interest in Inverness, a core operated property.'' Neutrino is currently beginning an aggressive winter drilling program which includes a minimum of 6 development wells and 5 exploratory wells. Current daily production rates are approximately 3,200 barrels of oil equivalent (BOE) and year-end projections call for 3,500 BOE per day. Neutrino is a Calgary-based emerging oil and gas, exploration and production company. Neutrino's common shares trade on The Toronto Stock Exchange under the symbol ''NTO''.