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

To: Arnie who wrote (7944)	12/16/1997 2:31:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR/ Shaw Family Holdings Status LONDON, Ont., Dec. 15 /CNW/ - Leslie E. Shaw, Chairman of Shaw Industries Ltd., has announced that effective December 15, 1997 substantially all of the shares in Shaw Industries Ltd. owned by the Shaw Family have been transferred into Shaw Family Holdings Inc. to solidify long-term family voting control of Shaw Industries Ltd. The shareholders of Shaw Family Holdings Inc. will be family holding companies of his brother, JR Shaw, his sisters, Bertha M. Shaw and Dolly E. MacDonald, and his own family. The shares of Shaw Family Holdings Inc. will be subject to a voting trust, having three trustees, being Leslie E. Shaw, JR Shaw and Virginia L. Shaw. Mr. Shaw stated ''Shaw Industries Ltd. has been controlled by the Shaw Family for many years. The new arrangement will enable the various branches of our family to speak with one voice on matters relating to Shaw Industries Ltd. and will provide stability for Shaw Industries Ltd. for years to come.'' Shaw Family Holdings Inc. will own 3,415,174 Class A shares and 4,258,079 Class B shares of Shaw Industries Ltd. This will represent 23.9% of the outstanding Class A shares and 73.3% of the outstanding Class B shares of Shaw Industries Ltd. In addition, Leslie E. Shaw will continue to own 260,250 Class B shares of Shaw Industries Ltd., which are 4.5% of the outstanding Class B shares of Shaw Industries Ltd.

To: Arnie who wrote (7944)	12/16/1997 2:34:00 AM
From: Kerm Yerman	Read Replies (5) \| Respond to of 15196

FIELD ACTIVITIES / Diaz Resources Drilling Update DIAZ UPDATES U.S. ACTIVITIES CALGARY, Dec. 15 /CNW/ - Diaz Resources Ltd. today reported that it's Cabeza Creek well in Goliad County, Texas, was drilling at 9,000' with intermediate casing planned to be set at 9700'. The prospect, in which Diaz holds a 33.3% working interest, targets a lower Wilcox gas pool with a potential accumulation of 70 billion cubic feet of gas. The well is anticipated to reach total depth in the second week of January, 1998. Diaz also reported that it had entered into an agreement to acquire 20% of a high impact gas prospect in Cameron Parish, Louisiana. The prospect targets an 18,000' Miocene Miogypsinoides gas accumulation on the flank of a substantial structural feature. An initial well, abandoned in this zone after encountering large gas kicks, will be reentered by utilizing the 14,000 feet of 9'' casing set in the original well and whip stocked to a new more optimum bottom hole location. This prospect is targeting potential gross gas reserves of 350 billion cubic feet. Finally, Diaz is participating for an 8.5% working interest in a reentry in an Edwards Limestone prospect in DeWitt County, Texas. The prospect comprises a short radius horizontal reentry of a recently drilled Edwards well which encountered 60 feet of Edwards Limestone gas pay at 14,000', was produced for three months but at uneconomic rates. If successful, the new well is expected to recover 6 to 10 billion cubic feet of gas, with anticipated production rates of 5 to 6 million cubic feet of gas per day. Reentry operations are currently underway and further information should be available in early January. The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein.

To: Arnie who wrote (7944)	12/16/1997 2:43:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

CORP. / Tri Link Resources Dumps Reorganization Plans TRI LINK TERMINATES REORGANIZATION INITIATIVE Cites market conditions, new discoveries, commitment to shareholder value CALGARY, Dec. 15 /CNW/ - Tri Link Resources Ltd. (TSE symbol: TLR) today announced that it has terminated its previously announced plan to reorganize the company. Mr. Gary Burns, Tri Link's President and Chief Executive Officer, said, ''This decision is in the best interests of our shareholders and reflects several developments since we announced this initiative six weeks ago. The recent weakness of oil and gas prices, together with the general market uncertainties of the past month, made it impossible for us to generate what we believed to be appropriate value for the properties in question. In addition, we have made a number of significant new discoveries, or upgraded our expectations from previous discoveries, on a number of the properties we had intended to offer for sale. These assets command a significant premium and we were unwilling to trade that away. ''In short, while the value of the assets was increasing during the past six weeks, market conditions were deteriorating to the point where buyer sentiment was considerably different than it had been earlier in 1997. We indicated at the outset that a sale would occur only if full value could be realized. Our commitment to realizing full shareholder value could lead to no other decision than to terminate the reorganization initiative. ''Tri Link will continue to operate as a single corporate entity. Our commitment, and the focus of our activity going forward, is to continue building value for our shareholders through our current and planned exploration and development activities. ''Toward that end, we continued our regular business activities with minimum interruption during the past six weeks. Business has continued as usual and our outlook is, if anything, even more positive than it was before. ''During the past six weeks we have made a number of new discoveries in our Hazelwood and other projects. We have conducted large 3-D seismic programs on each of our Hazelwood, Manitoba and Seal projects. We have continued to grow our production. We have prepared exploration and development drilling programs for the coming year. We have budgeted our capital expenditures for these and other activities.'' Mr. Burns added, ''Our budget for the coming year is approximately $120 million, about two-thirds of which will be directed to our Hazelwood project and allocated between the Tilston pools and the deeper Red River play underlying Tri Link's land position. The balance of next year's budget will be directed towards our exploration and development activities in our Seal Gas project plus our Seal and Manitoba light gravity oil projects. ''In creating value in these and other opportunities we will continue to rely on the strengths that have served us well over the years: control positions over the lands on which we operate, the use of 3-D seismic and horizontal drilling, low finding costs, strong reserves, and turning prospects into solid economic producing projects. ''Management is committed to leading Tri Link into its next stage of corporate growth. We will be moving existing personnel into new leadership roles and we are beginning the search for additional qualified staff to complement our existing teams.'' Tri Link Resources Ltd. is a leading Calgary-based intermediate oil and gas producing company. It owns or controls more than 700,000 acres of land in the provinces of Alberta, Manitoba and Saskatchewan. Its largest asset, the Hazelwood Project Area, is one of the largest contiguous land positions held by any energy company in southeast Saskatchewan. -30-