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 (8198)	12/31/1997 7:30:00 AM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION / Del Roca Energy Inc. Updates Activities ASE SYMBOL: DER DECEMBER 30, 1997 CALGARY, ALBERTA--Del Roca Energy Inc. ("the Corporation") announces that it has increased its interest in its Norbuck Lake property by completing the purchase of an average 37 percent interest in the property for $385,000. Del Roca's working interest in the core property is now an average of 88 percent. The purchase, which was effective October 1, 1997, will add about 28 bopd bringing Del Roca's total production to over 100 bopd. Del Roca anticipates that it will take over operatorship of the property January 1, 1998. The Corporation also announces that its Board of Directors has approved the postponement of the previously announced flow-through private placement of common shares. This step was prompted by the recent general decline and malaise in the equities market as well as a determination by the Board that Del Roca has sufficient funds on hand plus unutilized lines of credit to carry out its anticipated 1997-98 development program. Del Roca also announces that, effective December 31, 1997, it will amalgamate with its wholly owned subsidiary corporation, Del Roca Resources Ltd., and change its year-end from June 30 to December 31.

To: Kerm Yerman who wrote (8198)	12/31/1997 7:31:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Richland Petroleum Announces New Vice President, Flow-Through Share Issue TSE, ASE SYMBOL: RLP.A DECEMBER 30, 1997 CALGARY, ALBERTA--Richland Petroleum Corporation today announced the appointment of Mr. Donald W. Dewar as Vice President Exploration of the corporation. Mr. Dewar has 26 years of exploration experience and has held numerous senior exploration positions, most recently as Exploration Manager at Samedan Oil of Canada Inc. Mr. Mark Lake, previously Vice President Exploration of Richland, has established a consulting practice and will remain with Richland on a consulting basis. The company also announced that it has entered into agreements for the issue of up to 695,000 common shares pursuant to flow-through share agreements, for gross proceeds of $3,437,000. Proceeds of the issue will be utilized for the company's exploration program. The shares will be issued as qualifying expenditures are incurred in 1997 and 1998. Richland Petroleum Corporation is a public company involved in the exploration for and development of crude oil and natural gas in western Canada and the United States. Its shares trade on the Alberta and Toronto Stock Exchanges under the symbol "RLP.A".

To: Kerm Yerman who wrote (8198)	12/31/1997 7:33:00 AM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / EnerVest Diversified Income Trust Announces Next Record Date TSE SYMBOL: EIT.UN DECEMBER 30, 1997 CALGARY, ALBERTA--EnerVest Diversified Management Inc., the manager of EnerVest Diversified Income Trust ("Trust") announces that the date of record for the next monthly distribution is December 31, 1997. The date of payment will be January 14, 1998. EnerVest Diversified Management Inc. will distribute $0.09 per unit, which annualized, represents a 14.4 percent yeild based on yesterday's close. The net asset value of the "Trust" as at December 29, 1997 is $7.94 per unit. EnerVest Diversified Management Inc., anticipates that approximately 70 percent of the distribution amount will be tax deferred. For more detailed information, please refer to the September 30, 1997, quarterly results of EnerVest Diversified Income Trust.

To: Kerm Yerman who wrote (8198)	12/31/1997 7:35:00 AM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Sands Petroleum AB has Received in Excess of 90 Percent of the Shares of International Petroleum Corporation. The SDR Offer Unconditionally Extended Until January 9, 1998 DECEMBER 30, 1997 STOCKHOLM, SWEDEN--In connection with its offer to purchase the outstanding shares of International Petroleum Corporation ("IPC") (including shares represented by Swedish Depositary Receipts ("SDRs"), Sands Petroleum AB ("Sands") is pleased to announce that in excess of 90 percent of the common shares of IPC (including shares represented by SDRs), calculated on a fully diluted basis, have been tendered to the offer by Sands, thereby satisfying one of the conditions of the offer. The other conditions of the offer for the outstanding SDRs (the "SDR Offer") have already been fulfilled or waived. The SDR Offer has now been completed. The offer for the common shares of IPC (the "Share Offer"), which is being made according to Canadian law, is, however, still subject to registration with the Swedish Patent and Registration Office of the newly issued Series B shares of Sands. The final compilation of shares and SDRs tendered is expected to be completed by January 9, 1998, after which Sands will announce the level of acceptance. Settlement is expected to begin on or about January 15, 1998. To enable holders of SDRs who have not yet accepted the SDR Offer to do so, Sands has extended the acceptance period until January 9, 1998. The acceptance form must be received by Skandinaviska Enskilda Banken, Publika Emisisoner, no later than 6:00 p.m. Swedish time on January 9, 1998. Settlement for SDRs tendered during the extended acceptance period is expected to begin on or about January 23, 1998. After the expiration of the extended acceptance period Sands intends to initiate a compulsory acquisition process in order to acquire any remaining shares in IPC, including shares represented by SDRs.

To: Kerm Yerman who wrote (8198)	12/31/1997 7:46:00 AM
From: Herb Duncan	Respond to of 15196

FIELS ACTIVITIES / Trans-Dominion Meting-1 Well, Pakistan, Tested Non-Commercial Gas TSE SYMBOL: TDE DECEMBER 30, 1997 CALGARY, ALBERTA--Trans-Dominion Energy Corporation announces that Tullow Pakistan (Developments) Limited, the operator of the exploration well Meting No. 1, located in East Badin extension Block A onshore Pakistan, has plugged and abandoned the well. Meting-1 was drilled to a depth of 4,290 m, and has tested gas at non-commercial rates from two intervals in Sembar and basal Lower Goru Formations respectively. Michael Doherty, President and CEO of Trans-Dominion Energy Corporation commented:" We need time to evaluate the results of the Meting-1 well, and will incorporate this evaluation into our ongoing exploration program for the block".

To: Kerm Yerman who wrote (8198)	12/31/1997 7:49:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Millennium Energy Inc.Issues Flow-Through Shares ASE SYMBOL: MLN DECEMBER 30, 1997 CALGARY, ALBERTA--Millennium Energy Inc. announces that it has entered into a private placement to issue 1.5 million units at a price of $0.25 per unit, for gross proceeds of $375,000. Each unit comprises one flow-though common share and one warrant exercisable into a flow-through common share at an exercise price of $0.35 per common share. The proceeds of the private placement will be used to fund the initial phase of Millennium's 1998 Alberta exploration program, which includes completing seismic options in the Rumsey and Seal West areas and drilling up to 5 shallow gas wells at Lac la Biche.

To: Kerm Yerman who wrote (8198)	12/31/1997 7:52:00 AM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION-TOP 20 LISTED / Paramount Resources Ltd. Announces the Closing of an Asset Acquisition TSE SYMBOL: POU DECEMBER 29, 1997 CALGARY, ALBERTA--Paramount Resources Ltd. has completed the acquisition, for $73.0 million including closing adjustments, of certain producing natural gas properties from Reserve Royalty Corporation that previously were owned by Jordan Petroleum Ltd. The properties acquired are currently producing 42 MMcf/d and are primarily located at Thornbury, Winefred and Cold Lake, Alberta, and at Primrose, Saskatchewan. These properties also include a considerable amount of undeveloped acreage that Paramount believes has further upside potential. Paramount's common shares are listed for trading on The Toronto Stock Exchange under the symbol "POU".

To: Kerm Yerman who wrote (8198)	12/31/1997 7:54:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Courage Energy Announces Private Placement Agreement TSE SYMBOL: CEO DECEMBER 24, 1997 CALGARY, ALBERTA--COURAGE ENERGY INC. (TSE - CEO) announces that it has entered into private placement agreements to issue up to 1,070,000 Flow-Through Common Shares at $2.10 per share. Total proceeds of $2,247,000 will be used by Courage to fund an exploration program on its existing petroleum and natural gas properties. Courage Energy Inc. is a Canadian oil and natural gas company. The principal business is the exploration, development and production of oil and natural gas. The common shares of Courage are listed on the Toronto Stock Exchange under the symbol "CEO".

To: Kerm Yerman who wrote (8198)	12/31/1997 7:56:00 AM
From: Herb Duncan	Respond to of 15196

CORP-TOP 20 LISTED / Penn West Petroleum Announces Normal Course Issuer Bid TSE SYMBOL: PWT DECEMBER 23, 1997 CALGARY, ALBERTA--PENN WEST PETROLEUM LTD. (TSE - PWT) announces that the notice to make a Normal Course Issuer Bid (the "Bid") has been accepted by The Toronto Stock Exchange. Pursuant to the Bid, Penn West may purchase, from time to time, as it considers advisable, up to 200,000 of the outstanding common shares of Penn West, (0.5 percent of the 39,991,164 currently outstanding common shares of Penn West), through the facilities of The Toronto Stock Exchange for an aggregate acquisition cost not to exceed $3,000,000. The price which Penn West will pay for any shares purchased by it, will be the prevailing market price of such shares on The Toronto Stock Exchange at the time of the purchase. All common shares acquired under the Bid will be cancelled. Purchases may commence on December 29, 1997 and will terminate on the earlier of the date on which Penn West shall have acquired all of the common shares sought pursuant to the Bid, and December 28, 1998, unless earlier terminated. Penn West believes that the price of its common shares may not reflect their underlying value, from time to time, and that at such times, the purchase of common shares will increase the proportionate interest of, and be advantageous to, all remaining shareholders. Penn West Petroleum Ltd. is a Calgary based oil and natural gas company that focuses on exploration and development activity in Western Canada. Penn West trades on The Toronto Stock Exchange under the symbol PWT.

To: Kerm Yerman who wrote (8198)	12/31/1997 7:58:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Windsor Energy Announces its First Louisiana Well TSE SYMBOL: WNS DECEMBER 23, 1997 CALGARY, ALBERTA--Thomas E. Hogan, President of Windsor Energy Corporation (TSE:WNS) announced today that Windsor's subsidiary, SMK Energy Corporation, has successfully completed its first gas well in Louisiana. The A. Wilberts and Sons #1 well in Iberia Parish, Louisiana was gauged making 1,000,000 cubic feet of gas per day. It was also producing 24 barrels of oil per day. Windsor Energy owns 30 percent of this well. This is the first well to be drilled as part of the new South Louisiana program. Windsor is a Calgary, Alberta and Dallas, Texas based international exploration and production company traded on the Toronto Stock Exchange (TSE:WNS).

To: Kerm Yerman who wrote (8198)	12/31/1997 8:01:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / TecnoPetrol Announces Offshore Offering CANADIAN DEALING NETWORK SYMBOL: TPTE.U DECEMBER 23, 1997 TORONTO, ONTARIO--TecnoPetrol Inc. is pleased to announce that it signed an engagement letter today with Andino Capital Markets, Inc. ("ACM"), a Latin American investment banking firm, whereby ACM agreed to offer up to 10,000,000 Units of TecnoPetrol to overseas investors at an offering price of US$0.50. Each Unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant will be exercisable for one year from the closing date at an exercise price of US$0.80. The offering is expected to close by mid-January, 1998, and is subject to all required corporate approvals. The net proceeds from the offering will be used for property payments and to rework existing wells, with the balance earmarked for general working capital. TecnoPetrol also announced that, because of current market conditions, it has decided not to proceed with its previously announced offering in Canada of 20 million units at US$0.80 a unit, for which Eagle & Partners Inc. was acting as the Corporation's agent. Issued and outstanding shares as of December 19, 1997 - 15,189,167

To: Kerm Yerman who wrote (8198)	12/31/1997 8:03:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Invader Exploration Inc. Warrants Exercised ASE SYMBOL: INX DECEMBER 23, 1997 CALGARY, ALBERTA--Invader Exploration Inc. (INX.ASE) is pleased to announce that 380,000 common share purchase warrants were exercised prior to expiration on Dec. 15. Gross and net proceeds of $475,000.00 will be used primarily for the ongoing development of the Company's Arkoma Basin exploration program located in Oklahoma and Arkansas, U.S.A. Invader will be participating in a multi-well exploration drilling program in the Arkoma Basin during 1998. Drilling is expected to begin in early January on Invader's next exploration well. The well is a high potential, multi-zone gas prospect and is targeted for a depth of 9,500 feet. Invader has leased over 4,300 acres within the prospect area.

To: Kerm Yerman who wrote (8198)	12/31/1997 8:05:00 AM
From: Herb Duncan	Read Replies (2) \| Respond to of 15196

FIELD ACTIVITIES / Ohio Resources Completion of 3-D Seismic Program, Commencement of Winter Drilling and First Quarter Results VSE SYMBOL: OHO DECEMBER 29, 1997 CALGARY, ALBERTA--Ohio Resources Corporation ("Ohio") (VSE-OHO) is pleased to report the completion of the 14 square mile 3-D seismic program at Turin, Alberta. By virtue of shooting the program, Ohio has earned a 50 percent interest in 4.5 contiguous sections of land. The results of the program are extremely encouraging and the date quality is excellent. Ohio and its partner will commence drilling the first of several wells on this property during the first week of January. At Midwinter, in northeast British Columbia, Ohio and its partner, Pan East Petroleum Ltd., are currently mobilizing to drill four horizontal wells. The first well is expected to spud before the new year. Ohio will hold an APO 25 percent interest in these locations, BPO Ohio will have a 7.5 percent gross overriding royalty. At Pembina, Ohio has earned a 20 percent BPO working interest in one section of land by drilling a well during December. Testing is continuing and final results will be released when available. During December, proceeds of $207,500 were received on exercise of outstanding share purchase warrants. Ohio is pleased to report improved results for the first quarter ended October 31, 1997. Petroleum and natural gas revenues before royalties increased 2.3 percent from $551,185 in 1996 to $563,944 in 1997. Cash flow from operations increased 17 percent from $147,450 or $0.01 per share in 1996 to $172,586 or $0.02 per share in 1997. Net income for the quarter increased from 12,108 or $0.00 per share in 1996 to $70,586 or $0.01 per share in 1997.

To: Kerm Yerman who wrote (8198)	1/2/1998 6:03:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. / K2 Energy Corp. Featured In key Industrial Magazine K2 ENERGY CORP. CALGARY, Dec. 31 /CNW/ - A well known and respected American oil and gas publication, Hart's Oil & Gas World, in its December, 1997 edition has selected K2 Energy Corp.'s exploration play on the Blackfeet Indian Reservation in Northern Montana as their ''play of the month''. K2 is actively continuing its exploration and development work in Montana. K2 continues to pursue a farm-out partner for its Montana lands and, to date, seven large Canadian and U.S. oil and gas companies have signed a confidentiality agreement with K2 under which they have been given the opportunity to review the Company's data on the lands. K2 Energy Corp. wishes to announce that it is recording in its October 21, 1997 unaudited financial statements, a $2.0 million write-down in the carrying value of its Canadian oil and gas properties as a result of the more than 30% decline in crude oil prices since the start of the 1997 calendar year. K2 Energy Corp. is a publicly traded company on The Toronto Stock Exchange under the symbol ''KTO''.