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

To: Herb Duncan who wrote (8224)	1/2/1998 5:25:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Texalta Petroleum Issues Flow Thru Sares & Warrants TEXALTA PETROLEUM LTD. ASE SYMBOL: TEX.A DECEMBER 31, 1997 Texalta Petroleum Ltd. Announces Successful Issue CALGARY, ALBERTA--Texalta Petroleum Ltd. is pleased to announce the successful issue of flow through shares and warrants. The shares and warrants are sold in units at a price of $0.20 per unit which comprise one flow through share and one half common share purchase warrant which entitles the holder to purchase one not previously issued common share for a price of $0.45 per warrant for one year. The total funds raised are $300,000.00. The company plans to use these funds for further development and exploratory work in Saskatchewan. In the first quarter the company has plans to participate in the drilling of a horizontal development well and a stepout from a new pool discovery in the Queensdale area Saskatchewan.