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

To: Kerm Yerman who wrote (8220)	1/1/1998 10:34:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION / NEW ARCADIA RESOURCES SIGNS LETTER OF INTENT TO ACQUIRE MAJOR INTEREST IN LARGE CONTRACT AREA IN OIL PRODUCING REGION OF GUATEMALA VSE SYMBOL: NAX DECEMBER 31, 1996 VANCOUVER, BRITISH COLUMBIA--NEW ARCADIA RESOURCES LTD. Vancouver, B.C., announces it has executed a letter of intent with Ceiba Petroleo S.A. for an option to earn a 72% interest in the Guatemalan Oil License A-2-92. Ceiba Petroleo is a 79% owned subsidiary of Seine River Resources Inc., (VSE-SRO). The License area, covering 554,000 acres, is in a lightly explored southern extension of the prolific Peten Basin from which Mexico produces most of its oil. An oil discovery on the license produced 145,000 barrels of 34.8 API gravity oil between 1981 and 1986. Well repairs to correct increasing water production were terminated due to political unrest in the area in 1986 and the well was abandoned. It is planned that initial drilling on the license will be directed to development of the reservoir found by this previous oil discovery. Other operators actively are exploring and producing in the region and pipeline and loading facilities have been built. Peace has been restored to the region as a result of the election of a democratic government and subsequent signing of peace agreements, culminating in the major peace accords signed December 29, 1996 in Guatemala City between the government and local native groups. This timely acquisition complements New Arcadia's exploration project in nearby Belize where New Arcadia has 700,000 acres under contract adjacent to the Guatemalan border. The terms of the letter of intent require New Arcadia to pay Ceiba US$83,000 and issue 200,000 shares of common stock to secure the option. To earn the interest, New Arcadia must drill and complete one well, commencing drilling within 180 days of the final agreement. The option is subject to the execution of the final agreement and to approval by the Vancouver Stock Exchange, the Government of Guatemala, and the Boards of Directors of New Arcadia and Seine River. New Arcadia Resources Ltd. is an international petroleum resource company. The Company's common shares trade actively on the Vancouver Stock Exchange - symbol NAX. New Arcadia specializes in exploring and developing large scale oil and gas projects worldwide. On Behalf of the Board of Directors, Charles A. Kohlhaas, President Dr. Charles A. Kohlhaas - PETROLEUM OPERATIONS 35 Crestmoor Road, Golden, Colorado 80401 Tel: (303) 526-9400 Fax: (303) 526-0066

To: Kerm Yerman who wrote (8220)	1/1/1998 10:37:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

FINANCING / Meridian Energy Corporation - Private Placement ASE, VSE SYMBOL: MDG DECEMBER 31, 1996 CALGARY, ALBERTA--Meridian Energy Corporation (the "Company") is pleased to announce that it has completed the second and final closing of its brokered private placement announced on November 14, 1996. A total of 1045 Units at a price of $500.00 per Unit were subscribed for representing aggregate gross subscription proceeds of $522,500. Each Unit consists of 1,250 Class A Common Shares (the "Common Shares"), of which 1,125 Common Shares will be flow-through shares (the "Flow-Through Shares") by virtue of the Company's agreement to incur and renounce to the subscribers certain Canadian exploration expenses (as defined in the Income Tax Act) in respect thereof. The Company is also pleased to announce the closing of the MEC Land Fund Limited Partnership (the "Land Fund") with an initial capitalization of $380,000. The proceeds of the Land Fund will be used primarily to acquire undeveloped petroleum and natural gas rights at Crown land sales. The Crown land parcels acquired will be explored and developed by the Company on farmout terms pursuant to the terms of a joint venture agreement entered into between the Land Fund and the Company. Meridian Energy Corporation will be the general partner of the Land Fund. For more information, contact Fred R. Thompson, President of the Company, at (403) 531-1690 or Norris Morgan, Secretary of the Company at (604) 681-4733. ON BEHALF OF THE BOARD OF DIRECTORS OF MERIDIAN ENERGY CORPORATION Fred R. Thompson, P. Eng., President

To: Kerm Yerman who wrote (8220)	1/1/1998 10:41:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

CORP / Ryan Energy Technologies Changes Fiscal Year End TSE, ASE SYMBOL: RYN DECEMBER 31, 1996 CALGARY, ALBERTA--Ryan Energy Technologies Inc. announces that it will be changing its fiscal year end to December 31 from March 31 effective December 31, 1996. Ryan Energy Technologies Inc. is an industry leader in the development and provision of horizontal and directional technology and services including measurement While Drilling (MWD), Logging While Drilling (LWD), and Down-hole Drilling Motors. This equipment is used to steer and evaluate horizontal and directional well-bores for major, intermediate, and junior oil and gas companies in Western Canada and the United States.

To: Kerm Yerman who wrote (8220)	1/1/1998 10:46:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Pointer Exploration Corp. Announces Execution of Letter Agreement TSE SYMBOL: PE DECEMBER 31, 1996 CALGARY, ALBERTA--POINTER EXPLORATION CORP. is unaware of any material circumstance which would give rise to the recent trading activity in its stock. Pointer has been advised of the execution of a letter agreement by Vinland Petroleum Inc. (a private Newfoundland company in which Pointer holds a 16 percent interest) for the conducting of seismic activity and stratigraphic evaluation drilling on on-shore lands in which Vinland has a 100 percent interest.

To: Kerm Yerman who wrote (8220)	1/1/1998 10:51:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

FINANCING /Virginia Energy Corporation Announces Second Closing of Public Offering ASE SYMBOL: VRG DECEMBER 30, 1996 CALGARY, ALBERTA--VIRGINIA ENERGY CORPORATION ("Virginia") announces that it completed today a second closing of its public offering of 70,000 A Units, each A Unit being comprised of one common share and one common share purchase warrant and 1,968,485 B Units, each B Unit being comprised of one common share issued on a "flow-through" basis and one common share purchase warrant. The gross proceeds raised from this second closing were $709,969.75 which together with its first closing held on December 20, 1996 brings the total gross proceeds realized from this offering to $1,881,295. A third closing of A Units in order to complete the maximum offering of $2,000,000 will be held on or before February 24, 1997. Virginia's common shares are listed for trading on the ASE and the warrants will be listed on the ASE in the next two weeks. Canaccord Capital Corporation of Calgary acted as agent in connection with this public offering.

To: Kerm Yerman who wrote (8220)	1/1/1998 10:57:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

FINANCING / Cavern Resources Inc. Announces Sale of Common Shares DECEMBER 30, 1996 CALGARY, ALBERTA--Cavern Resources Inc. (the "Corporation") hereby announces that, on December 30, 1996, Jeffrey Tonken sold 840,000 common shares of the Corporation to Mill Bay Investments Ltd. for a total purchase price of $5,000. As a result of this transaction, Mill Bay Investments Ltd. holds a total of 840,000 common shares of the Corporation representing approximately 38.4 percent of the issued and outstanding common shares of the Corporation and Jeffrey Tonken holds 10,000 common shares of the Corporation.

To: Kerm Yerman who wrote (8220)	1/1/1998 11:01:00 PM
From: Herb Duncan	Read Replies (3) \| Respond to of 15196

CORP / Elk Point Resources Inc. Obtains Receipts for Prospectus TSE SYMBOL: ELK.A DECEMBER 30, 1996 CALGARY, ALBERTA--Elk Point Resources Inc. ("Elk Point") announces that the Securities Commissions in the Provinces of Alberta, Ontario, and British Columbia have issued receipts for the Prospectus of Elk Point dated December 23, 1996 qualifying for distribution 1,650,000 Class A Common Shares issuable upon the exercise of 1,650,000 outstanding Special Warrants. The Special Warrants were previously issued at a price of $6.25 each for gross proceeds of $10,312,500. Each Special Warrant entitles the holder to acquire one Class A Common Share of Elk Point at no additional cost. Any Special Warrants not exercised prior to 4:30 p.m. (Calgary time) on January 7, 1997 will be deemed to have been exercised without any further action on the part of the holder. FirstEnergy Capital Corp. and Griffiths McBurney & Partners were the underwriters in respect of the private placement of the Special Warrants.