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: Herb Duncan who wrote (8089)	12/21/1997 1:14:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Flotek Industries Coporate Update FLOTEK INDUSTRIES INC. VSE SYMBOL: FTK OTC Bulletin Board SYMBOL: FOTDF DECEMBER 19, 1997 Flotek Industries Inc. Corporate Update HOUSTON, TEXAS--Options previously granted to certain directors, officers and employees of the Company to purchase up to 1,810,000 of common shares of the Company at the price of $0.50 (CDN) per share are being canceled, and the Company is granting new options to certain directors, officers and employees of the Company to purchase up to a total of 3,945,000 shares at a price of $0.17 (CDN) per share. The new options will expire on Dec. 15, 2002. The new options are subject to regulatory approval. Flotek is a publicly traded company in the international oilfield service industry, involved in the manufacturing and marketing of innovative downhole technologies in Canada, the USA, South America, and Asia. (VSE - FTK), (OTC BB - FOTDF).

To: Herb Duncan who wrote (8089)	12/21/1997 1:18:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Solid State Geophysical Takeover Bid Closing SOLID STATE GEOPHYSICAL INC. TSE SYMBOL: SSS DECEMBER 19, 1997 Solid State Geophysical Takeover Bid Closing CALGARY, ALBERTA--Solid State Geophysical Inc. (TSE:SSS) today announced that the terms and conditions of SSGI Acquisition Corp.'s $3.50 per share offer to acquire all of the outstanding shares of Solid State Geophysical Inc. have been satisfied. As of 6:00 p.m., Calgary time, on December 19, 1997, the expiry time of the offer, approximately 5,181,421 common shares of Solid State Geophysical Inc. were deposited under the offer. All such common shares will be taken up and paid for by SSGI Acquisition Corp. As more than 90 percent of the shares will be taken up and paid for, SSGI Acquisition Corp. intends to acquire the balance of the shares of Solid State Geophysical Inc. pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta) and will be sending notices shortly to the remaining shareholders of Solid State Geophysical Inc. who did not deposit under the offer.

To: Herb Duncan who wrote (8089)	12/21/1997 1:23:00 AM
From: Kerm Yerman	Respond to of 15196

EARNINGS / Corker Resources Third Quarter Results & Update CORKER RESOURCES INC. ASE SYMBOL: CRK DECEMBER 19, 1997 Corker Resources Inc. Announces Third Quarter Fiscal Results and Other Corporate News CALGARY, ALBERTA--Corker Resources Inc. recently filed its financial results for the first three quarters of its current fiscal year. For the three month period ended September 30, 1997, the Company had net income of $732,042 ($0.13 per share) on revenues of $1,051,751 which included a gain on asset dispositions of $698,727. Cash flow from operations was $0.04 per share, on a fully diluted basis, for the same period. For the first three quarters of the fiscal year, net income was $790,663 ($0.15 per share, fully diluted) on revenues of $1,362,611. Cash flow from operations for the nine month period was $0.07 per share. The company's net production at the end of the period was 234 BOE/d representing an increase of approximately 143 BOE/d during the last quarter. Corker's 40 well shallow gas development drilling program in the Hanna area of southern Alberta was initiated in early October and is expected to be completed soon. Meanwhile, plans are being finalized, with partners, to build a gas plant and gathering facilities to accommodate the new production. Corker's acquisitions in the Liege area of northeastern Alberta are now being consolidated to improve operational efficiency. Unseasonably warm weather in this region is hampering these activities, however.

To: Herb Duncan who wrote (8089)	12/21/1997 1:26:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING - TOP 20 / Carmanah Resources Secures Large Credit Facility CARMANAH RESOURCES LTD. TSE SYMBOL: CKM DECEMBER 19, 1997 Carmanah Secures $50 Million Credit Facility CALGARY, ALBERTA--CARMANAH RESOURCES LTD. ("CKM" - TSE) announced today it has secured a Cdn. $50 million credit facility with a major Canadian chartered bank and its merchant banking affiliate. Definitive term sheets have been executed and formal documentation will be completed during January, 1998. In the interim, a Cdn. $20 million bridge loan has been arranged with the chartered bank. The credit facility is comprised of senior and subordinated secured loans with a term expiring on January 31, 2000. The senior secured loan has redraw provisions. Pursuant to the terms of the facility, Carmanah will issue as partial consideration for arranging the loans 1.1 million common shares from treasury to the lenders. These shares will be held for a minimum period of one year from closing pursuant to private placement regulations. The available funds will assist Carmanah in financing its previously-announced Cdn. $84 million capital spending program on the development of the Camar and Langsa Fields in Indonesia and the Onado Field in Venezuela. The balance of the program will be funded from a portion of Carmanah's projected 1998 cash flow from a target production level averaging 9,400 BOPD in 1998. In addition to its aggressive development drilling and completion programs, during 1998 Carmanah will also operate and retain a significant carried equity interest in one and possibly two high-potential exploratory wells on its Northeast Natuna PSC in Indonesia. The cost of these wells will be financed by a major international oil company pursuant to an Option/Farmout Agreement announced earlier this year. Arrangement of the credit facility is a significant occurrence for Carmanah, as it provides required development capital with minimal equity dilution. It also provides new financial flexibility previously unavailable to the Company

To: Herb Duncan who wrote (8089)	12/21/1997 1:29:00 AM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / APF Energy Cash Distribution APF ENERGY TRUST TSE SYMBOL: AY.UN DECEMBER 19, 1997 APF Energy Trust Announces Cash Distribution of $0.475 for the Three Months Ending December 31, 1997 CALGARY, ALBERTA--APF Energy Trust announces that the cash distribution for the period from October 1, 1997 to December 31, 1997 will be $0.475 per Trust Unit. The payment will be made on January 31, 1998 to unit holders of record on December 31, 1997. With this distribution, APF Energy Trust will have paid out $1.985 since completing its initial public offering on December 17, 1996: /T/ Amount Record Date Payment Date $0.210 December 31, 1996 January 31, 1997 $0.455 March 31, 1997 April 30, 1997 $0.420 June 30, 1997 July 31, 1997 $0.425 September 30, 1997 October 31, 1997 $0.475 December 31, 1997 January 31, 1998 /T/ At a closing unit price of $9.00 on December 17, 1997, the APF Energy Trust trailing 12-month distribution rate is 19.7 percent. The cash distribution for the period ending December 31, 1997 will be the last under the quarterly distribution format. Commencing with the production month of January 1998, distributions will be made monthly. The first such payment will be made on March 15, 1998 to unit holders of record on February 15, 1998. Thereafter, the cash distributions will be made on the 15th of each month.