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

To: Kerm Yerman who wrote (8186)	12/30/1997 4:39:00 PM
From: Arnie	Respond to of 15196

NEW LISTING / Kappa Energy to trade on the TSE CALGARY, Dec. 30 /CNW/ - Kappa Energy Company Inc. announced that its common shares have been listed and posted for trading on The Toronto Stock Exchange at today's opening. As a result of the listing, any outstanding Special Warrants which were issued on July 3, 1997 will expire at 4:30 p.m. (Calgary time) on January 7, 1998 (the ''Expiry Time''). Each Special Warrant entitles the holder to acquire, at no additional cost, one Common Share and one-half of a $2.40 Warrant. At the Expiry Time, any unexercised Special Warrants will be deemed to be exercised and the Common Shares and $2.40 Warrants issuable on exercise of the Special Warrants will be deemed to be issued. In order to obtain the certificates representing the Common Shares and $2.40 Warrants issuable on exercise of the Special Warrants, the holder must: (i) complete the exercise form attached to the Special Warrant Certificate and (ii) surrender the Special Warrant Certificate to CIBC Mellon Trust Company at its office located at 710, 333 - 7th Avenue S.W., Calgary, Alberta T2P 2Z1, Attention: Special Projects. Kappa Energy Company Inc. is a Calgary based international oil and gas company with current exploration operations in Colombia, Egypt and the Republic of Yemen.

To: Kerm Yerman who wrote (8186)	12/30/1997 4:41:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / Oiltec Resources updates Red River Drilling CALGARY, Dec. 30 /CNW/ - Oiltec Resources Ltd. (TSE:OLT) reports that its third Red River well at Brough, Saskatchewan has been abandoned after encountering uneconomic pay. A fourth location at Weir Hill, Saskatchewan is licensed and is scheduled to spud January 2, 1998. Oiltec's first Red River well continues to flow light oil at controlled rates. The late arrival of a service rig, due to unscheduled repairs, has delayed completion of Oiltec's second Red River well. The completion rig moved onto the location on December 29th and the well should be capable of production during the week of January 5, 1998. Additional performance data will be reported for both successful Red River wells later in January.

To: Kerm Yerman who wrote (8186)	12/30/1997 4:43:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Sunburst Oil & Gas update DRilling EDMONTON, Dec. 30 /CNW/ - Sunburst Oil & Gas Inc. (SBS-ASE) is pleased to announce their engineers' report on the exploratory findings of the horizontal drill on test-well 'Western Pembina 16C-20' which is owned and operated by their wholly-owned subsidiary Western Canada Energy (1996) Ltd. 'Western Pembina 16C-20' is a development horizontal re-entry well. The original Plymouth Pembina 16-20 vertical well was drilled in July 1956. On December 08, 1997, the wellbore was re-entered by milling a window through the old 139.7mm production casing from 1494.6 to 1497.5 metres. The 121mm build section was kicked off at 1496 metres and the horizontal section was drilled due north to within 1.67 metres south of the section 20 boundary. This well was terminated in the Cardium sand at 1743 metres on December 14th, 1997 at 02:20 hours. This well drilled to produce oil from the Cardium at 1568.47 metres true vertical depth. The reservoir has two porosity members separated by a 1 metre shale streak. The 3.6 metre upper chert conglomerate sand is the target reservoir. The top .4 metres is a medium to course grained chert conglomerate that is tightly cemented with intergranular very fine grained silica cemented quartz. This caprock is underlain by moderately cemented, in part friable, very fine to lower fine grained quartz sand with porosities ranging from 8 to 16% and fair implied permeability. It is saturated with very light oil and samples have an immediate very good live oil cut. The reservoir was penetrated at 1599 metres MD and the entire lateral trajectory was drilled in oil pay. This conglomerate dips up to the north. Total drilled..............(1599-1743m) - 144 metres ''Moderate Pay''...........(1599-1602, 1610-1640m) - 33 metres or 23% ''Rich Pay''...............(1602-1610, 1640-1743m) - 111 metres or 77% Western Pembina 16C-20 possesses all the attributes of a successful horizontal Cardium Oilwell. Production liner was run over the build section on December 14, 1997.

To: Kerm Yerman who wrote (8186)	12/30/1997 4:46:00 PM
From: Arnie	Respond to of 15196

EARNINGS / Sunfire Energy reports 12 months results CALGARY, Dec. 30 /CNW/ - Higher oil and natural gas prices helped to overcome reduced production volumes to give Sunfire Energy Corporation improved financial results for its fiscal year ended July 31, 1997. Net earnings improved to $205,545 (5 cents per share) from $66,107 (2 cents per share), and cash flow from operations rose to $740,034 (18 cents per share) compared with $551,609 (13 cents per share) in the previous year. Gross revenues, net of royalties, increased by 15% to $1,228,107 from $1,072,051 in 1996. Natural gas production declined to 1,038 Mcf per day from 1,330 Mcf per day in 1996, while daily oil and liquids production decreased to 34 Bbls from 43 Bbls. The Company's average gas price rose to $2.10 per Mcf from $1.37 per Mcf, and average oil prices were also higher at $27.95 per Bbl from $23.56 per Bbl. During the fiscal year, the Company operated the drilling of five exploratory wells with an average 44% working interest. This drilling activity resulted in four gross (1.87 net) gas wells. Two of the gas wells will be placed on production in October and are expected to increase the Company's gas production by 50%. Undeveloped landholdings increased by 21% to 66,934 gross (24,540 net) acres. In the forthcoming fiscal year, the company is intending to drill a number of high reward exploratory prospects on these lands, while continuing to develop its core natural gas holdings to their full potential.

To: Kerm Yerman who wrote (8186)	12/30/1997 4:48:00 PM
From: Arnie	Respond to of 15196

FINANCING / BriAlto Energy closes Flow-Through Share Offering CALGARY, Dec. 30 /CNW/ - BriAlto Energy Corporation (''BriAlto'') is pleased to report that today it closed the previously announced offering of 1,100,000 Class A Shares, issued on a flow-through basis, at a price of $1.15 per share, for gross proceeds of $1,375,000. McDermid St. Lawrence Securities Ltd. acted as the agent in connection with this offering. BriAlto also announces that the shareholders of BriAlto and the shareholders of Adobe Resources Ltd. have approved the previously announced amalgamation of the two corporations. It is anticipated that the amalgamation will be effective December 31, 1997. BriAlto is a junior petroleum and natural gas exploration, development and production company with operations focussed in south-eastern Saskatchewan. BriAlto is listed on The Alberta Stock Exchange under the trading symbol ''BTO.A''.

To: Kerm Yerman who wrote (8186)	12/30/1997 4:52:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

ACQUISITION / Real Resources acquires Tri-Ex & moves to TSE Real Resources Inc. (ASE symbol: RER) has acquired approximately 91% of the publicly held common shares of Tri-Ex Oil & Gas Ltd. (TSE symbol: TXG) under its 0.87 Real common share per Tri-Ex common share offer of December 6, 1997. Lowell E. Jackson, President & CEO of Real, said "It was a remarkable year of successful growth and change for Real. On completion of the Tri-Ex acquisition, Real will have a production rate of approximately 1600 boe/day. Real, with an excellent land position and strong inventory of drilling prospects, is poised for a very good year in 1998". The board of directors of Tri-Ex have resigned in favour of nominees of Real. On or about December 31, 1997, Real will compulsorily acquire the remaining common shares of Tri-Ex and Tri-Ex will become a wholly owned subsidiary of Real. The remaining shareholders of Tri-Ex will be required to transfer their shares to Real for the same consideration as Real offered under the bid or dissent and demand payment of the fair value of their Tri-Ex shares. Tri-Ex shareholders will have 60 days from the receipt of the Notice to exercise their right of dissent. Real has received conditional approval from the Toronto Stock Exchange for the listing of its common shares on the Toronto Stock Exchange. It is expected that the listing of the Real shares will occur in January, 1998 and shortly thereafter the shares of Real will be delisted on the Alberta Stock Exchange. CIBC Wood Gundy Securities Inc. acted as dealer manager for the offer on behalf of Real. Neither the Alberta Stock Exchange nor the Toronto Stock Exchange have approved nor disapproved the information contained herein. - 30 - For further information interested parties may contact: Lowell E. Jackson, President & CEO Real Resources Inc. and Tri-Ex Oil & Gas Ltd. Telephone: (403) 262-9077 Fax: (403) 262-6403