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 (7985)	12/17/1997 6:53:00 AM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

PIPELINES / Vector Pipeline Announces FERC Filing TSE, ME SYMBOL: IPL NASDAQ SYMBOL: IPPIF DECEMBER 16, 1997 CALGARY, ALBERTA--(December 16, 1997) - The Vector Pipeline project, initiated by IPL Inc., has filed an application with the Federal Energy Regulatory Commission in Washington D.C. to construct, lease and operate the 328-mile U.S. portion of its proposed 343-mile natural gas pipeline. When completed, Vector will be a key transportation link between the existing natural gas hubs at Chicago and Dawn, Ontario. "The filing of this application puts the Vector Pipeline project on schedule to be in-service by November 1, 1999," said Vector President Brian Vaasjo. "Vector will lower the rising sea of gas in Chicago and move it to the market hub at Dawn to serve growing markets in Eastern Canada and the U.S. Eastern Seaboard." Included in the FERC application is a description of the project including changes made to the original proposal. Among the changes, Vector is now proposing to increase the diameter of the pipe from 36 inch to 42 inch for 269 miles of new pipeline to be constructed in the U.S. Vector will also change its design pressure from 1,440 psig to 1,000 psig. This design change would see Vector operate at a lower pressure to match the seasonal variations in pressure of supply sources in the Chicago area as well as to better integrate Vector with pipelines and storage facilities along the pipeline route. Vector is also proposing to lease 59 miles of existing 36-inch diameter pipeline under a long-term lease with Michigan Consolidated Gas Company. Vector intends to construct two 30,000 HP compressor stations and five meter/regulating stations to accommodate the planned capacity. The cost of refinements to the design and escalating costs of material and labour have been offset by a reduction in rate of return on equity in order to maintain the $0.23 U.S./Dth toll from Chicago to Dawn. The Vector Pipeline project will have a design capacity of one billion cubic feet of natural gas per day. Vector will provide seamless natural gas transportation service from the rapidly expanding Chicago hub to points in Michigan and on to Dawn. From there, the gas can be further transported by other existing and proposed transmission systems for redelivery in both Canada and the United States. "The Vector system represents the next logical step in the evolution of competition in the continental natural gas market," said Mr. Vaasjo. "Vector is a hub-to-hub, transportation-only pipeline charging competitive, market-driven rates." Mr. Vaasjo added that from an environmental point-of-view, the Vector project scores high marks because, among other reasons, it leases existing pipeline facilities and the new construction follows existing rights-of-way for 94 percent of its length. Vector is also pleased to acknowledge today that MCN Energy Group, Inc. has increased its interest in Vector Pipeline from 17 1/2 percent to 20 percent. Vector has completed an open season and received firm service requests in excess of 1 billion cubic feet per day. The pipeline will originate at a point of interconnection with the terminus of the approved Northern Border Pipeline extension and the proposed Alliance Pipeline and Viking Voyageur pipeline projects. /T/ SYSTEM DESCRIPTION Capital Cost ($U.S.) United States Segment $447 million Canada Segment $24 million Total $471 million Length of Pipeline 269 miles of new pipeline through Illinois, Indiana and Michigan. 59 miles of leased pipeline between Milford and Belle River, Michigan. 15 miles from Canada/US border to Dawn, Ontario 343 miles total Capacity 1 MMDth/d (approx. 1 Bcf/d) of initial firm capacity Compression Two 30,000 HP compressor stations In-Service November 1, 1999 /T/

To: Kerm Yerman who wrote (7985)	12/17/1997 6:58:00 AM
From: Herb Duncan	Respond to of 15196

CORP / LASMO Announces Board Appointment NYSE SYMBOL: LSO DECEMBER 16, 1997 LONDON, ENGLAND--LASMO plc (NYSE - LSO), the international oil and gas exploration and production company, today announced the appointment of Mr. Paul Murray to the Board, as Corporate Development Director, with effect from January 1, 1998. Mr. Murray is 36 years old. He joined LASMO plc on the acquisition of Thomson North Sea Holdings Ltd. in 1989. He was appointed to the position of General Manager, Corporate Development in March 1996. In addition to LASMO's listing on the New York Stock Exchange, LASMO shares trade on the London, Toronto and Montreal Stock Exchanges. Shares are quoted on the SEAQ System, and prices may be accessed on the Reuter Equities 2000 Service under the symbol LSMR.L and on Quotron under the symbol LSMRU.EU. For further information, visit LASMO's web page at http:\\www.lasmo.com.

To: Kerm Yerman who wrote (7985)	12/17/1997 7:00:00 AM
From: Herb Duncan	Respond to of 15196

MEDIA / Pacific Tiger Energy Inc. on the Montreal Exchange DECEMBER 16, 1997 MONTREAL, QUEBEC--Pacific Tiger Energy Inc. will be listing as of tomorrow an aggregate of 15,237,901 Common Shares, of which 13,937,901 will be issued and outstanding. Pacific Tiger Energy Inc. acquires and develops oil and gas prospects in South East Asia. The Company holds an interest in the SW1 Petroleum Concession located in the Phetchabun Basin in the central plains region of Thailand, roughly two hundred miles from Bangkok. /T/ The head office of Pacific Tiger Energy Inc. is located at: 1 Westmount Square 10th Floor Westmount, Quebec H3Z 2P9 Telephone: (514) 932-9934 Fax: (514) 932-9642 Contact: Steve Conyers, Secretary Ticker symbol: "PTE" Newspaper abbreviation: Pac.Tiger /T/

To: Kerm Yerman who wrote (7985)	12/17/1997 7:05:00 AM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Peak Energy Services Ltd. Announces the Appointment of Mr. Lloyd C. Swift and Mr. Lyle Kallis to the Board of Directors TSE SYMBOL: PES DECEMBER 16, 1997 CALGARY, ALBERTA--Peak Energy Services Ltd. is pleased to announce the appointment of Mr. Lloyd C. Swift and Mr. Lyle Kallis to the Board of Directors. Mr. Swift is a Calgary businessman who is involved at the board level of numerous public and private companies. Prior to October 1995 Mr. Swift was Vice President and Director of Nesbitt Burns Inc. Mr. Lyle Kallis is President of Lykal Sales and Oilfield Rentals Ltd., and brings twenty-five years of oil and gas experience to the board. Peak Energy Services Ltd. is a diversified energy services company providing oilfield rental equipment and related services to the energy industry in Western Canada. Peak's shares are listed on The Toronto Stock Exchange under the symbol "PES".

To: Kerm Yerman who wrote (7985)	12/17/1997 9:50:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Veteran Resources Private Placement VETERAN RESOURCES INC. ASE SYMBOL: VTI DECEMBER 16, 1997 CALGARY, ALBERTA--Veteran Resources Inc. announces that it's Board of Directors has approved a proposed private placement of up to $1,250,000 of flow through common shares of the Corporation at a price of $0.75 per common share. Gross proceeds of the private placement will be used to fund the Corporation's Western Canadian Winter drilling program. The Corporation further advises that no progress has occurred in advancing it's Russian project with JSOC Yukos and the Board of Directors has decided to discontinue all activity related to the Russian project.