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

To: Herb Duncan who wrote (8226)	1/2/1998 5:22:00 AM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Raider Resources Closes Questar Land Buy RAIDER RESOURCES LTD. TSE, ASE SYMBOL: RAI DECEMBER 31, 1997 Raider Resources Closes Questar Property Acquisition CALGARY, ALBERTA--Raider Resources is pleased to announce that it has closed the acquisition of certain oil and gas properties from Questar Exploration. The total purchase price of these assets was $7.8 million. Most of the properties are located in Raider's core area of activity between Calgary and Edmonton. These properties are estimated to contain 6.8 BCF of natural gas and 468,000 BBL of oil reserves. The package includes 12,700 net acres of undeveloped land. Raider considers these properties to possess significant upside potential that can be realised through further geological and geophysical evaluation and the drilling or eight to ten wells in 1998. In addition there are three wells with established production rates ready to tie in to pipeline facilities. This acquisition was funded through Raider's existing bank line of credit together with the proceeds from the sale of two properties, which totalled $3.9 million. No shares were issued in order to close this transaction..