Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerm Yerman who wrote (7947)	12/16/1997 6:28:00 AM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Lodestar Energy and Torrington Resources Announce Takeover Plans ASE SYMBOL: LEI.A LEI.B LEI.WT.A AND TORRINGTON RESOURCES LTD. TSE SYMBOL: TRN DECEMBER 15, 1997 CALGARY, ALBERTA--TORRINGTON RESOURCES LTD. and LODESTAR ENERGY INC. jointly announce that they have entered into an agreement whereby Torrington will acquire Lodestar pursuant to an amalgamation. Lodestar shareholders will receive $1.15 cash for each Lodestar Class A Share held and 0.4 of a Torrington common share for each Lodestar Class B Share held. Torrington shares will not be affected. The amalgamation is subject to a number of conditions, including completion of due diligence, execution of a formal agreement, regulatory approval, receipt of a fairness opinion and approval by Lodestar's shareholders. Subject to the foregoing, Lodestar's directors have agreed to support the amalgamation and recommend that it be approved by Lodestar's shareholders. In the event a superior offer is made by a third party to acquire Lodestar, Torrington has been granted a first right to match or better the competing offer and if the competing offer is completed Lodestar has agreed to pay Torrington a break fee of $400,000. Lodestar plans to call a meeting of its shareholders as soon as practicable and in any event by no later than February 10, 1998 to approve the amalgamation. Torrington is a public, Calgary-based oil and gas company which had revenue for the nine months ended September 30, 1997 of $17.7 million and cash flow of $14.3 million ($0.65 per share). Torrington's production during the nine months ended September 30, 1997 averaged 3,206 BOE/d. Torrington's common shares trade on The Toronto Stock Exchange under the symbol "TRN". Lodestar Energy Inc., is a public, Calgary-based oil and gas company which completed its initial public offering in October, 1996. Lodestar's Class A Shares, Class A Share Purchase Warrants, and Class B Shares trade on the Alberta Stock Exchange under the symbols "LEI.A, LEI.WT.A and LEI.B", respectively. Lodestar and Torrington each have a 50 percent interest in a farmin from Talisman Energy Inc. on approximately 122,000 net acres in the Edson area of west central Alberta.

To: Kerm Yerman who wrote (7947)	12/16/1997 6:29:00 AM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / RETRANSMISSION: Master Downhole Announcement ASE SYMBOL: MDH.A DECEMBER 15, 1997 CALGARY, ALBERTA--The Company has been approved as a supplier by the engineering department of a large foreign oil company. The Company will be negotiating the payment terms of an $ 8,000,000.00 contract in January 1998. It is expected that production on the contract will begin in late January 1998, with the majority of the contract delivered prior to the May 31, 1998 year end.

To: Kerm Yerman who wrote (7947)	12/16/1997 6:33:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / PEBERCAN: Start of Exploration Well Cantel Profundo 1 in Cuba NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE ME SYMBOL: PBC DECEMBER 15, 1997 MONTREAL, QUEBEC--PEBERCAN company has started on December, 12th 1997 at 11:00 PM cuban time, its first exploration well located on its VARADERO licence. This first company well, CANTEL PROFUNDO 1 is a vertical drill hole, with a total depth forecast of 3,200 metres. This well should penetrate Cretaceous to Jurassic reservoirs lying below 2,000 metres, made of fractured carbonates. PEBERCAN company reminds that the Russians initiated the exploration of these same deep reservoirs. They evidenced below 2000 metres, in two different wells, light oil shows (29 degrees API ) and a gas flow of 70,000 m3/day. These wells, located in the vicinity of PEBERCAN prospect area, CANTEL PROFUNDO, had been stopped due to a lack of appropriate technology . The rig NATIONAL 110 UE, which belongs to PEBERCAN company, is used to drill CANTEL PROFUNDO 1, and is equipped with the appropriate technology in order to control expected high pressures. The staff in place is essentially made of both canadian and french engineers and technicians.

To: Kerm Yerman who wrote (7947)	12/16/1997 6:34:00 AM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / RE: EnerVest FTS Limited To Purchase Shares DECEMBER 15, 1997 CALGARY, ALBERTA--EnerVest FTS Limited Partnership Fund (1997) (the "Partnership") announced today that it has entered into agreements for the purchase of an aggregate of $14,360,375 of flow-through shares (or warrants convertible into flow-through shares), as follows: /T/ COMPANY NUMBER OF SHARES TOTAL $ BXL Energy Ltd. 1,100,000 742,500 Corridor Resources Inc. 1,500,000 1,500,000 Golden Trend Petroleum Ltd. 400,000 460,000 Maxwell Oil & Gas Ltd. 800,000 920,000 Petrobank Energy & Resources Ltd. 2,000,000 4,000,000 Petrohawk Energy Ltd. 2,000,000 500,000 Pyramid Energy Inc. 2,177,250 1,524,075 Range Petroleum Corporation 300,000 480,000 Rider Resources Inc. 310,200 1,783,650 Rio Nevada Mines Corporation 629,000 220,150 Stanford Energy Corporation 1,000,000 1,000,000 TMT Resources Inc. 400,000 480,000 Tusk Energy Inc. 500,000 750,000 /T/ Certain of the agreements are subject to the approval of stock exchanges on which the shares are listed. The Partnership is not aware of, nor does it expect, any difficulties in obtaining the requisite approval. The Partnership has raised an aggregate of $22,054,000, of which $18,398,800 is immediately available and $3,655,200 is available in 1998.

To: Kerm Yerman who wrote (7947)	12/16/1997 6:43:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Alma Oil & Gas Ltd. Completes Private Placement of Flow-Through Special Warrants ASE SYMBOL: AGL.A DECEMBER 15, 1997 CALGARY, ALBERTA--Alma Oil & Gas Ltd. announces today that it has completed its final closing of a Private Placement of 2,727,300 Special Warrants. The Flow-Through Special Warrants were issued at $0.60, to raise gross proceeds of $1,636,380. Each Special Warrant entitles the holder to one (1) Common Share and one-half (1/2) of one Warrant at no additional cost. The Corporation will use its best efforts to obtain a receipt for a Qualifying Prospectus to qualify the Common Shares and Warrants issuable on exercise of the Special Warrants on or before January 31, 1998 from the securities commissions of the Qualifying Jurisdictions. Holders of Warrants will be entitled to subscribe for and purchase, for every whole Warrant held, one (1) Common Share, until December 3, 1998, at an exercise price of $0.80 per Common Share. The Corporation intends on incurring Canadian Exploration Expense and Specified Canadian Development Expense (as defined under the Income Tax Act (Canada)) in an amount equal to the gross proceeds of the offering and renounce this amount to subscribers on December 31, 1997. Proceeds from the offering will be used to fund development and exploration activities on Company lands in the Fort Pitt area of Saskatchewan, and the Long Coulee and Greencourt areas of Alberta. Agents for the Private Placement of Special Warrants were Majendie Charlton Securities Ltd. and Levesque Beaubien Geoffrion Inc.