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

To: Kerm Yerman who wrote (8247)	1/2/1998 9:10:00 PM
From: Arnie	Respond to of 15196

DIVIDEND / Gulf Canada Resources CALGARY, Jan. 02 /CNW/ - Gulf Canada Resources Limited today announced that the dividend rate for the month of December 1997 for Gulf Canada Resources Limited's Fixed/Adjustable Rate Senior Preference Shares, Series 1, has been calculated at $0.019 per share. The dividend rate is payable January 12, 1998 to shareholders of record at the close of business on December 31, 1997.

To: Kerm Yerman who wrote (8247)	1/2/1998 9:11:00 PM
From: Arnie	Respond to of 15196

AMALGAMATION / Union Gas Ltd & Centra Gas Ontario Inc VANCOUVER, B.C., Jan. 2 /CNW/ - Westcoast Energy Inc. and its subsidiaries, Union Gas Limited and Centra Gas Ontario Inc., today announced that the amalgamation of Union Gas and Centra Gas Ontario was completed on January 1, 1998. The amalgamated company is known as Union Gas Limited and will carry on the business formerly conducted by Union Gas and Centra Gas Ontario. Since 1994, Union Gas and Centra Gas Ontario have operated under a shared services agreement which resulted in combined cost savings totalling approximately $14 million per year. The amalgamation will result in additional operating efficiencies which will benefit customers and position the company well for changes in the North American energy industry. There is no effective change in Westcoast's ownership interest in Union Gas and Centra Gas Ontario due to the amalgamation. The amalgamation was approved by the Lieutenant Governor in Council of the Province of Ontario, on the recommendation of the Ontario Energy Board, and was also approved by the committees of independent directors of each of Union Gas and Centra Gas Ontario. Union Gas Limited, which serves more than one million customers in northern, southwestern and eastern Ontario, is a wholly owned subsidiary of Westcoast Energy Inc. (TSE:W; NYSE:WE). Headquartered in Vancouver, British Columbia, Westcoast Energy's interests include natural gas gathering and processing facilities, gas transportation and storage facilities, gas distribution companies as well as power generation, international and energy services businesses. Westcoast Energy has assets in excess of $9.6 billion and employs approximately 6,000 people.

To: Kerm Yerman who wrote (8247)	1/2/1998 9:14:00 PM
From: Arnie	Respond to of 15196

EARNINGS / Sunfire Energy reports 1st 3 months results CALGARY, Jan. 2 /CNW/ - Sunfire Energy Corporation's financial results for the three month period ended October 31, 1997, were impacted by operational problems and the disposition of a producing oil property. The extended shut-down of a non-operated compression facility resulted in the loss of five and one half weeks of production. This plant currently handles over fifty percent of the Company's natural gas production. Revenues for the period declined to $187,293 from $268,114 reported in the prior year. Consequently, cash flow at $111,493 (2 cents per share) and net income at $40,163 (1 cent per share) were lower by 23% and 37% respectively compared with 1996. During the period the Company participated with a 19% working interest in the drilling of three wells adjacent to its gas production facilities at Thorhild. This activity resulted in two gross (0.51 net) gas wells. Both these wells will be immediately tied-in and placed on production. Elsewhere, the Company has farmed out one of the ten sections it holds at Morinville for an exploratory well which will test a Leduc reef oil prospect. This well will be drilled early in 1998. If successful, the Company will retain a 27.5% working interest after payout of drilling, completion and equipping costs from net production revenue.

To: Kerm Yerman who wrote (8247)	1/2/1998 9:17:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / Alberta Oil & Gas provides update 1998-01-02 CALGARY, ALBERTA Alberta Oil & Gas Petroleum Corp. ("AOG") announces that it has entered into an arrangement agreement (the "Arrangement Agreement") with Cairo Energy Inc., 763375 Alberta Ltd. ("763375"), and 763387 Alberta Ltd. ("763387") and that it has appointed Kenneth L. McNeill as Chairman, President and Chief Executive Officer of the corporation. Mr. McNeill was most recently Chief Operating Officer of Amber Energy Inc. where he acted as both a senior officer and lead negotiator of all of Amber's significant property acquisitions from August 1993 until his resignation in October 1997. In addition to the appointment of Mr. McNeill, AOG has reconstituted its Board of Directors as follows: New Directors ------------- Kenneth L. McNeill - Chairman, President and C.E.O. M. Bruce Chernoff - Executive Vice President, Pacalta Resources Ltd. John A. Brussa - Partner, Burnet, Duckworth & Palmer Retained Directors ------------------ Peter B. Whiteway - former President and C.E.O., prior thereto Vice-President and Co-founder of Maxx Petroleum Ltd. Dr. Urs Wehinger - former Chairman, Partner, Arnold, Wehinger, Kaelin & Ferrari Gunter Daiss - former Vice-Chairman, Independent Businessman An additional new director and further senior management appointments will be made and announced in the next few weeks. Cairo, 763375 and 763387 (collectively, the "Acquired Companies") are private companies controlled by Messrs. McNeill, Chernoff, Brussa and their associates. The assets of the Acquired Companies consist principally of approximately $9.0 million of cash and liquid marketable securities and oil and gas properties. The oil and gas properties include proven and risked probable reserves of approximately 989 thousand barrels of oil equivalent with a present value of about $6.6 million (discounted at 15%) and approximately 25,000 acres of net undeveloped land. Under the terms of the Arrangement Agreement, the AOG common shares will be consolidated on the basis of one new AOG share for each three issued and outstanding old AOG shares. The common shares of the Acquired Companies will be exchanged on the basis of one new AOG share for each issued and outstanding share. After giving affect to the arrangement, AOG will have approximately 12.3 million shares issued and outstanding. This arrangement is subject to regulatory, court and shareholder approval. It is anticipated that an information circular describing the arrangement will be mailed to shareholders of AOG in February and that shareholders will be asked to approve the arrangement at a special meeting to be held in late March. Shareholders owning or controlling approximately 40% of the issued and outstanding shares of AOG have committed to vote in favor of the arrangement. It is anticipated that the arrangement will close in late March 1998. The Board of Directors believes that this transaction significantly enhances shareholder value through strengthening the corporation's management, technical and financial resources. With these changes, AOG is well positioned for profitable growth as one of Canada's pre-eminent junior oil and gas companies. The Alberta Stock Exchange has neither approved nor disapproved the contents of this press release. FOR FURTHER INFORMATION CONTACT: Kenneth L. McNeill Chairman, President and C.E.O (403) 269-3779

To: Kerm Yerman who wrote (8247)	1/3/1998 5:18:00 AM
From: Kerm Yerman	Respond to of 15196

TSE / Paramount Resources Ltd. to Be Added to TSE 300 Composite Index, TSE 200, and To The TSE 3.2 Subgroup (Oil & Gas Producers) Effective before the open on Friday, January 16, 1998, the common shares of Caledonia Mining Corporation (CAL), Hyal Pharmaceutical Corporation (HPC) and William Resources Inc. (WIM) will be removed from the TSE 300 Composite Index for failure to meet TSE 300 Composite Index Maintenance Policy No. 2. This policy states that if a stock appears in the TSE 300 QMV report at calendar quarter end with a 0.00 relative weight, it will be removed from the Index at the opening of the expiry of the following month's options and futures contracts. Please note the following changes to the TSE 300 Composite Index before the open on Friday, January 16, 1998: Stocks to be added: The CGI Group Inc. Cl A SV (GIB.A) Group/Subgroup - 6.10 Technology - Software Paramount Resources Ltd (POU) Group/Subgroup - 3.2 Oil & Gas Producers Southernera Resources Limited (SUF) Group/Subgroup - 2.3 Gold & Precious Minerals Stocks to be removed: Caledonia Mining Corporation (CAL) Group/Subgroup - 2.3 Gold & Precious Minerals Hyal Pharmaceutical Corporation (HPC) Group/Subgroup - 5.8 Biotechnology/Pharmaceuticals William Resources Inc. (WIM) Group/Subgroup - 2.3 Gold & Precious Minerals Note: The CGI Group Inc. Cl A SV (GIB.A), Paramount Resources Ltd. (POU) and Southernera Resources Limited (SUF) will also be added to and Caledonia Mining Corporation (CAL), Hyal Pharmaceutical Corporation (HPC) and William Resources Inc. (WIM) will be removed from the TSE 200 Index effective before the open on Friday, January 16, 1998.