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 (8102)	12/22/1997 6:54:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / CityView Energy announces Christmas Present CityView Energy Corporation Limited announces that Well No. SST-1 is planned to spud on 25 December 1997. The workover of Well No. SS-1 (situated approximately 450 metres from the proposed Well No. SST-1) has confirmed a minimum production rate of 30 bopd. Operations on Well No. SS-1 have been suspended pending the drilling of Well No. SST-1. Yours faithfully (SIGNED) A.P. WOODS Company Secretary/CFO For further information contact: Australia - CityView Energy North American - Zoya Financial Chris Rees Steve Basra/Jasbir Gill Tel: 011-61-89-474-1333 Tel: 416-214-2368 Fax: 011-61-89-474-5997 Fax: 416-214-2771 cityviewenergy.com email.jazz@wwonline.com

To: Kerm Yerman who wrote (8102)	12/22/1997 6:56:00 PM
From: Arnie	Respond to of 15196

CORP. / Pinnacle Resources announces Shareholder Selling Program Pinnacle Resources Ltd. today announced a Small Shareholder Selling Program that enables shareholders who owned, or were entitled to, 99 or fewer common shares of Pinnacle as of December 19, 1997, to sell their share without incurring brokerage commissions (the "Program"). The sale of Pinnacle common shares under the Program will be executed by Midland Walwyn Capital Inc. through the facilitates of The Toronto Stock Exchange. This voluntary Program is open to qualifying shareholders of record as of December 19, 1997. The program will begin on January 5, 1998 and will expire on April 3, 1998 at 4:00pm Calgary time. Both registered shareholders and beneficial owners of these shares held in nominee form are eligible to participate in the Program. The Program is also available to parties who have not yet tendered, for exchange into common shares of Pinnacle, share certificates evidencing certain securities of the following companies which have been previously acquired by, or are predecessor companies to, Pinnacle and companies previously acquired by Pinnacle: HCO Energy Ltd. HCO Energy Company Ltd. Consolidated HCO Energy Ltd. Norpet Resources Ltd. Quadron Resources Ltd. Quintex Energy Ltd. Chancellor Energy Resources Inc. Northridge Exploration Ltd. Auric Resources Limited Consolidated Nicholson Mines Ltd. Nicholson Mines Limited Canadian Majestic Resources Ltd. Twin Energy Ltd. Trigas Exploration Ltd. Resoquest Resources ltd. Resoquest Energy Ltd. Pinnacle Resources Ltd. (Preferred Series A and Series B Shares) Material is being sent to eligible shareholders indicating how they can participate and providing other details about the Program. Pinnacle has retained Corporate Shareholder Services Inc. of Calgary as the manager of this Program. Questions should be directed to the program manager by calling Corporate Shareholder Services Inc. collect at (403) 233-2801.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:01:00 PM
From: Arnie	Respond to of 15196

FINANCING / Canadian Blackhawk Energy closes Financing CALGARY, Dec. 22 /CNW/ - Canadian Blackhawk Energy Inc. (''Blackhawk'') is pleased to announce on December 19, 1997 it closed the private placement of an aggregate of 1,230,000 special warrants issued on a ''flow-through'' basis, at a price of $0.50 each for gross proceeds of $615,000. Each special warrant entitles the holder thereof to one common share of Blackhawk at no additional cost. Blackhawk will file a prospectus qualifying the common shares underlying the special warrants in Alberta and Ontario. The underwriter for subscriptions obtained in Ontario was Anchor Securities Limited. Canadian Blackhawk Energy Inc. is listed on The Alberta Stock Exchange under the symbol ''CBZ''.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:03:00 PM
From: Arnie	Respond to of 15196

PROPERTY ACQUISITION & FINANCING / Kintall Energy Inc. CALGARY, Dec. 22 /CNW/ - KINTAIL ENERGY INC., announces that it has received shareholder approval and has subsequently closed both it's Major Transaction and a flow through share issue for drilling. The Major Transaction consisted of the acquisition of oil and gas properties producing approximately 35 BOE/D and 6,349 net undeveloped acres of land for total cash consideration of $570,000. The properties are mainly in the South Pembina, Bashaw, and Gilby areas of Central Alberta. The financing involved the issuance of 1,500,000 flow through common shares at a price of $0.40 per share for proceeds of $600,000. No commissions were paid. The funds will be used for drilling. Kintail Energy Inc. is an aggressive junior oil company that trades on the Alberta Stock exchange under the symbol ''KTE''.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:06:00 PM
From: Arnie	Respond to of 15196

FINANCING & FIELD ACTIVITIES / Hegco Canada updates EDMOND, Oklahoma, Dec. 22 /CNW/ - The President and Chairman of HEGCO Canada Inc., Douglas C. Hewitt, announced today that HEGCO has agreed to accept $3,500,000 in equity financing pursuant to a Special Warrant Offering, subject to approval of the Alberta Stock Exchange. This Special Warrant Offering has been arranged by Helmsdale Financial as part of the $22,000,000 which was announced on November 4, 1997. The terms of the $3,500,000 equity financing include the purchase of the Special Warrant for $0.70. Each Special Warrant will be exchanged for one share of common stock plus a warrant for the purchase of an additional share prior to March 31, 1999, at a price of $0.80. Total commissions, paid in a blend of both stock and cash, will total approximately 7.6%. The Company has received commitments for the entire funding. The Company has received subscription agreements totaling approximately $1,750,000 and expects to close a portion of this placement on Monday, December 22, 1997, with the remaining balance of the $3,500,000 offering expected to close on January 6, 1998. HEGCO is also pleased to announce that during the month of January, 1998, operations in the Arkoma Basin of Arkansas will commence with the re-entry of the El Grande No.1 well. The Company has finished the drilling of the Nemaha No.4 well and anticipates completion of the well prior to the New Year. HEGCO Canada, Inc., is an Alberta, Canada corporation that trades on the Alberta Stock Exchange under the symbol ''HEG''. The Company is an oil and gas production, servicing and drilling company with operations in Oklahoma and Arkansas. On behalf of the Board: Douglas C. Hewitt, Chairman, Director

To: Kerm Yerman who wrote (8102)	12/22/1997 7:10:00 PM
From: Arnie	Respond to of 15196

PROPERTY ACQUISITION / Talisman Energy announces Contract Signing CALGARY, Dec. 22 /CNW/ - Talisman Energy Inc. today announced that a Production Sharing Contract (''PSC'') covering the Madura Offshore Block in Indonesia was signed on December 4, 1997. ''We are very pleased to be awarded this new, very prospective exploration acreage. The PSC is on trend with a number of significant oil and gas discoveries and we are very excited about the potential,'' said Dr. Jim Buckee, President and Chief Executive Officer. ''We have no hesitation about increasing our portfolio in Indonesia because sales are denominated in US dollars and the fiscal regime for the oil and gas industry has been very stable over many years.'' The Madura Offshore Block PSC comprises 4,246 square kilometers of high potential exploration acreage and is located southeast of Madura Island in the East Java Sea in a proven hydrocarbon basin. Water depths in the region are 70 to 130 meters. Talisman holds a 100% working interest in the Block. Talisman's preliminary evaluation has identified Oligo-Miocene reefal anomalies as well as other prospects and leads in the Pliocene and Eocene limestones. The Company has an extensive seismic data base on the Block and anticipates that reprocessing and reinterpretation of the data will identify additional exploration potential. Talisman plans to drill its first well on the acreage in 1999, focusing on the largest of the Miocene reefs. Talisman currently produces approximately 225,000 boe/d, of which 30,000 bbls/d are from Indonesia. Talisman (Corridor) Inc., a wholly-owned subsidiary of Talisman Energy Inc., is a 36% participant in the Corridor Gas Project in Indonesia. Talisman Energy Inc. is a Canadian-based international upstream oil and gas producer with operations in Canada, the North Sea and Indonesia. The Company also conducts exploration in Algeria, Trinidad and Peru. Talisman is listed on the Toronto, Montreal and Vancouver stock exchanges in Canada and on the New York Stock Exchange in the United States. This release is available on Talisman's Internet Web Site: WWW.TALISMAN-ENERGY.COM.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:11:00 PM
From: Arnie	Respond to of 15196

FINANCING / Southward Energy Shareholders OK Private Placement CALGARY, Dec. 22 /CNW/ - Southward Energy Ltd. (SWN-TSE) Mark Janisch, President of Southward Energy is pleased to announce that in a special meeting held December 17, 1997 shareholders of the Corporation approved the $5,300,000 special warrant financing agreed to in its October 15, 1997 letter agreement with Longbow Capital Limited Partnership. This financing was previously reported in Southward Energy news releases issued October 15, 1997 and November 20, 1997. Under the terms of the financing Mr. Mark Janisch P. Eng., MBA has been appointed President and Chief Executive Officer of the company replacing Mr. Richard Kiser. In the special shareholder meeting a new board of directors was elected and is comprised of the following: Mr. Marcel J. Tremblay is the President, Chairman of the Board, Chief Executive Officer and founder of Enerplus Energy Services Ltd. Mr. Tremblay has over 34 years of experience in the investment industry and oil and gas industry. Mr. Andrew Janisch is currently President of Jandess Ltd and is Chairman of the Board of Trustees of Enermark Income Fund, a Director of Westrock Energy Corporation, Chairman of the Board of Questor Technology Inc and a Director of Canadian Delta Exploration. Mr. Verne G. Johnson is currently President of Ziff Energy Group and has over 30 years experience in the oil and gas industry most recently as President and Chief Executive Officer of Elan Energy Inc. Mr. Mark R. Janisch is currently the President and Chief Executive Officer of Southward Energy and has 15 years experience in the oil and gas industry most recently with NAL Resources. The proceeds of this financing will be used to pay down Southward Energy's existing line of credit.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:14:00 PM
From: Arnie	Respond to of 15196

NEB / NEB receives Application From IPL for Pipeline CALGARY, Dec. 22 /CNW/ - The National Energy Board has received an application from Interprovincial Pipe Line Inc. (IPL) for a certificate to construct 15 new sections of 914 millimetre (36 inch) diameter pipe to connect to existing 1219 millimetre (48 inch) diameter loop sections to create a fifth pipeline between Kerrobert, Saskatchewan and Gretna, Manitoba. This project comprises the first phase of the Terrace Expansion Project (Terrace Phase 1 Program). In total, new pipe requirements are approximately 619 kilometres (383 miles) of pipeline, 30 pumping unit additions, 14 tie-in facilities and related station facility equipment. Approximately 373 kilometres (231 miles) of pipeline will be constructed within existing IPL easements and approximately 246 kilometres (152 miles) will be constructed on new easements to be acquired adjacent to IPL's existing easements. The estimated capital cost of the proposed expansion facilities is $640 million and the planned in-service date is 1 September 1999. The applied-for facilities would increase throughput capability of the existing IPL system by approximately 26 600 cubic metres (160,000 barrels) per day. The pipeline will be used primarily to satisfy export markets. The Board will announce at a later date how it will deal with the application.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:22:00 PM
From: Arnie	Respond to of 15196

PIPELINES / Alliance Pipeline awards Construction Contracts CALGARY, Dec. 22 /CNW/ - Alliance Pipeline is pleased to announce the award of pipeline construction contracts totaling approximately C$1.2 billion for the installation of approximately 3,000 kilometres of large diameter pipeline from Fort St. John, British Columbia to Chicago, Illinois. The successful contractors are Canada - Waschuk Pipe Line Construction Ltd. Red Deer, Alberta - O.J. Pipelines Nisku, Alberta - Marine Pipeline Construction of Canada (1993) Nisku, Alberta U. S. - U.S. Pipeline Inc. Houston, Texas - H.C. Price Co. Dallas, Texas - Associated Pipe Line Construction, Inc. Houston, Texas - Welded Pipe Line Construction, Inc. Perrysburg, Ohio - Sheehan Pipe Line Construction Company Tulsa, Oklahoma - Murphy Brothers, Inc. East Moline, Illinois - Henkels & McCoy, Inc. Norman, Oklahoma The Alliance Pipeline system is designed to carry natural gas from western Canada to the Chicago-area market center for distribution throughout North America. The pipeline is being developed by limited partnerships comprised of gas producing, marketing and pipeline companies. Assuming timely regulatory approval, pipeline construction is scheduled from the latter half of 1998 through late 1999 with start-up scheduled for late 1999.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:23:00 PM
From: Arnie	Respond to of 15196

ENERGY TRUSTS / Orion Energy TRust announces Cash Distribution CALGARY, Dec. 22 /CNW/ - Orion Energy Trust today announced that it will be paying a cash distribution of $0.31 per trust unit on January 15, 1998 for the quarter October 1, 1997 to December 31, 1997. The record date for the distribution is December 31, 1997. The next quarterly cash distribution will occur on April 15, 1998.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:26:00 PM
From: Arnie	Respond to of 15196

CORP. / Benz Energy Board approves Year End Change HOUSTON, Dec. 22 /CNW/ - Benz Energy Ltd. (Vancouver: BZG) Corporate Secretary, Mr. Nick DeMare, reports that the board of directors recently approved the change of the Company's fiscal year end to December 31, from August 31. The Company has sent the required notice to the appropriate regulatory authorities to approve the change in the year end. The change in year end will provide more meaningful comparative financial information for the Company's shareholders and investment analysts as the majority of oil and gas companies currently report their fiscal year end results ending on December 31. Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas and focused on the onshore Gulf Coast of the U.S. Benz acquires and utilizes an extensive base of 3-D seismic data and acreage position, and has assembled an inventory of 28 exploration prospects. The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

To: Kerm Yerman who wrote (8102)	12/22/1997 7:28:00 PM
From: Arnie	Respond to of 15196

NEW LISTING / Chauvco Resources International on The MSE MONTREAL, Dec. 22 /CNW/ - Chauvco Resources International Ltd. is listing today an aggregate of 53,078,052 Common Shares, of which 51,346,282 are issued and outstanding. Incorporated in 1997, Chauvco Resources International Ltd. acquires, explores and develops properties, through the intermediary of wholly- owned subsidiaries, principally located in Gabon, in order to produce crude oil in commercial quantities. The head office of Chauvco Resources International Ltd. is located at: 2 Church Street Clarendon House P.O. Box HM666 Hamilton, Bermuda HM CX Telephone: (403) 231-3100 Fax: (403) 231-3247 Contact: James K. Wilson, Executive Vice-President and Chief Financial Officer Ticker symbol: ''CHV'' Newspaper abbreviation: Chauv.Int

To: Kerm Yerman who wrote (8102)	12/22/1997 7:29:00 PM
From: Arnie	Respond to of 15196

CORP. / Petrolex Energy announces Grant of Stock Options VANCOUVER, Dec. 22 /CNW/ - Petrolex Energy Corporation Trading Symbol: PXV - TV PETROLEX ENERGY CORPORATION (the ''Company'') wishes to announce that following the recent cancellation or expiry of all 4,250,000 outstanding incentive stock options previously granted to its employees, directors and officers, it has granted a total of 2,435,000 incentive stock options (the ''Stock Options'') to its employees, directors and officers effective December 12, 1997. The Stock Options have been granted under the Company's Stock Option Plan for a period of three years from the date of grant at a purchase price of $1.00 per share, subject to final regulatory and shareholder approvals. On behalf of the Board of Directors PETROLEX ENERGY CORPORATION Stephen S. James, Vice President Corporate Counsel

To: Kerm Yerman who wrote (8102)	12/22/1997 7:31:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Naftex Energy announces Start-Up of Production VANCOUVER, Dec. 22 /CNW/ - Naftex Energy Corporation Trading Symbol: NFTX NAFTEX ENERGY CORPORATION (the ''Company'') is pleased to announce the start-up of production on December 18, 1997 from the Kharir Field on the East Shabwa Contract Area (''ESCA'') in Yemen's Hadramaout region. The ESCA is located approximately 500 kilometres east of Sanaa and 140 kilometres north of the export terminal at Ash Shihr near Mukalla on the Gulf of Aden. Gross production from four wells on the Kharir field is currently averaging about 17,000 barrels of oil per day (bopd). This is expected to increase to 20,000 bopd in early January when additional wells are slated to come on production. Exploratory drilling on the original 16,000 square kilometre permit discovered three productive structures adjacent to the Masila Block, Kharir and two satellites, Atuf Northwest and Wadi Taribah. The retained production permit which includes these three fields covers an area of some 230,000 acres. A second phase of development on the permit will be decided in late 1998, depending on the first year production history and on additional data obtained on the reservoirs. Naftex holds an effective 5% interest in the ESCA through its 17.5% shareholding in Comeco Petroleum Inc., which holds a 28.57% interest in the permit. The interest holders are: Total (Operator) 28.57% Unocal 28.57% Comeco 28.57% Kufpec 14.29% Commenting on these recent developments, Ramzy El Adl, President of Naftex said: ''We are very pleased that the Kharir Field has been put on production before the end of 1997. Naftex has now produced it first commercial barrel of crude oil from Yemen. This has spurred the Company's team in Egypt to ensure that there will be no further delays in achieving production from the WEEM Concession in Egypt as soon as possible so that both of the Company's licence areas will achieve production well within one year of listing in Canada. We look forward to the continued support of EGPC and the full co-operation of our partner in achieving this objective.'' A total of 54,041,963 common shares of the Company is presently issued and outstanding. On behalf of the Board of Directors NAFTEX ENERGY CORPORATION Stephen S. James Vice-President Corporate Counsel %SEDAR: 00007743E

To: Kerm Yerman who wrote (8102)	12/22/1997 7:33:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

CORP. / Calibre Energy mails Takeover Offer CALGARY, Dec. 22 /CNW/ - Calibre Energy Inc. announced today it has mailed its offer to purchase all of the issued and outstanding common shares of Trego Energy Inc. on Friday December 19, 1997. Calibre is offering $1.30 in cash plus one-fifth of one common share of Calibre for each one common share of Trego. The offer is conditional upon at least 662/3% being tendered under the offer which closes on January 16, 1998. Shareholders holding 40.24% of the common shares of Trego have signed agreements to tender their shares to the Calibre offer. The Board of Directors of Trego have issued their Directors Circular which unanimously recommends to Trego shareholders to accept Calibre's offer. Mr. R. Dean Smith President of Calibre Energy Inc. said, ''Based on an independent engineering evaluation, the acquisition of Trego will add approximately three million barrels of proven oil reserves and 850BOE/D of production to Calibre's southeast Saskatchewan core area.'' The combined entity will be producing in excess of 2,000BOE/D. In addition, Trego holds in excess of thirty thousand net undeveloped acres in Calibre's southeast Alberta core area which complements our existing large land and production base. Subsequent to completion of the acquisition of Trego, Calibre expects to drill in excess of thirty wells thoughout the 1998 year.

To: Kerm Yerman who wrote (8102)	12/28/1997 10:57:00 AM
From: Kerm Yerman	Read Replies (5) \| Respond to of 15196

**BULLETIN / Kerm's Listing Revisions - Changes I have restructured my Listings and Portfolio's (L&P). Because of their market capitalizations, Pan East Petroleum, Richland Petroleum and Upton Resources have been transferred to my Speculative 12 L&P from the Top 20 L&P. In addition, I have added one company to the listing, now bringing the list to a total of 21 companies. As a result, I am renaming both the L&P to "Top 21 Selections". ---------------------------------------------------------------------- Purchase of shares in the below listed companies were made Wednesday and these companies were added to the Top 21 L&P. Added Top 21 Listing & Portfolio Specifics Alberta Energy 100 shares @ $27.90 = $ 2,790.00 Berkley Petroleum 200 shares @ $13.30 = $ 2,660.00 Northrock Resources 100 sharesa @ $21.75 = $2,175.00 Rio Alto Exploration 200 shares @ $11.20 = $ 2,240.00 ---------------------------------------------------------------------- Last Wednesday I decided to eliminate Prize Energy from the Speculative 12 Listing and Portfolio. I continue to like the long term prospects for the company and will give the company another look/see in the third quarter of 1998. The determining factor behind my decision is the long delay until the Waterton wells are tied in for production. I don't see it happening prior to September. Eliminating PZI lowered the number of companies in this L&P to ten. I have since transferred the three companies mentioned above, bringing the total listing to thirteen companies. I have decided to list an additional two companies, bringing the total to fifteen. I am renaming the listing as my "Speculative 15 Listing". Last Wednesday, the following transactions were made. Sold Prize Energy 8,200 shares @ $0.54 = $ 4,428.00 Bought Draig Energy 1,500 shares @ $1.45 = $ 2,175.00 Bought Wolverine Energy 2,000 shares @ $1.10 = $ 2,200.00 ---------------------------------------------------------------------- Also last Wednesday, I increased the Service 7 L&P to bring that total to nine companies. The L/P is now renamed "Service 9". The following additions were made. Bought Badger Daylighting 400 shares @ $5.50 = $ 2,200.00 Bought Artisan Corp 200 shares @ 10.50 = $ 2,100.00 Bought Tetonka Drilling 1,000 shares @ $2.40 = $ 2,400.00 ---------------------------------------------------------------------- In total, 45 companies comprise all three Listings and Portfolios. My intention is to continue an overweight of investment in the Top 20 Portfolio. The total changes above necessitated a cash infusion into the portfolios totaling $17,500.00. I have also established a cash position of $7,500.00 for further investment which will probably be expended on or around April 1st. In total, including cash and positions, $125,000 has been invested thus far. There will be no further changes in this original invested amount. My personal goal is to increase the value of all three portfolios to a total of $300,000 in four years -- a very lofty objective. This will require a 25% average annual growth rate. Note that this week's listings of data will not reflect these changes. Both Listing and Portfolio Reports will be issued at year end and will reflect these changes.