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

To: Kerm Yerman who wrote (7986)	12/17/1997 6:46:00 AM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / First Premium Oil and Gas Income Trust Declares Income Distribution TSE SYMBOL: FPG.UN DECEMBER 16, 1997 TORONTO, ONTARIO--First Premium Oil & Gas Income Trust has declared a quarterly income distribution of C$0.1875 per Unit payable December 31, 1997 to holders of record on such date. Mulvihill Capital Management Inc., the Investment Manager of the Trust is also pleased to announce that Mr. Donald Biggs has joined the firm. Mr. Biggs will focus on the management of the existing four Premium Funds - First Premium Income Trust, First Premium US Income Trust, First Premium Oil & Gas Income Trust and Premium Income Corporation within the Mulvihill Group. He joins Mulvihill most recently from one of Canada's largest asset managers and brings an extensive background in Derivative Products and Funds Management. First Premium Oil & Gas Income Trust's investment objectives are to provide Unitholders with a stable stream of quarterly distributions of at least $ 0.1875 per Unit. The Trust intends to achieve its investment objectives by investing in a diversified portfolio consisting primarily of common shares issued by corporations that are included in the TSE 300 Oil & Gas Sub-Index and up to 20% of the cost amount of its assets in common shares issued by corporations that are included in the Standard & Poor's 500 Oil & Gas Sub-Index. In either case, in order to generate returns above the dividend income generated by the portfolio, the Trust will write covered call options in respect of all or part of the securities in the portfolio. The Trust's investment portfolio is managed by it's investment manager, Mulvihill Capital Management. Trust Units are listed on The Toronto Stock Exchange and The Montreal Exchange under the symbol FPG.un. /T/ Distribution Details: - Distribution per Unit: $ 0.1875 - Payable Date: December 31, 1997 - Record Date: December 31, 1997 - Ex-Dividend Date: December 29, 1997 NOTE NEW ADDRESS: First Premium Oil & Gas Income Trust 121 King Street West, Suite 2600 Toronto, Ontario M5H 3T9 (416) 681-3966 (800) 725-7172 www.mulvihill.com