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

To: Kerm Yerman who wrote (8300)	1/6/1998 3:07:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Canadian 88 Energy & Prize Energy Waterton Update CANADIAN 88 ENERGY CORP. TSE, ASE SYMBOL: EEE PRIZE ENERGY INC. ASE SYMBOL: PZI JANUARY 6, 1998 Canadian 88 Energy Corp. Kicks-Off New Year with Record Test Results at Waterton CALGARY, ALBERTA--Canadian 88 Energy Corp. of Calgary, Alberta announced today that it has successfully completed production testing of its third consecutive deep natural gas discovery in the Waterton area of the foothills of Southwest Alberta. The Company said today in Calgary that its LSD 4, Sec. 19, Twp. 7, Rge. 2 W5M well drilled to a total depth of 4,151 meters (13,490 feet), has been successfully completed in the Mississippian formation and is capable of producing approximately 18 to 20 mmcf/d of natural gas production against a 1,200 lb. line pressure. The well was extensively tested and encountered only 1 percent hydrogen sulfide (H2S). The well was drilled approximately 1 mile northwest of Canadian 88's original Waterton discovery well located at L.S.D. 4, Sec. 18, Twp. 7, Rge. 2 W5M which is capable of producing approximately 18 to 22 mmcf/d of natural gas and three miles northwest of Canadian 88's L.S.D. 4, Sec. 5, Twp. 7, Rge. 2 W5M test well which is capable of producing approximately 15 mmcf/d of natural gas. The Company said that its fourth well in its six well Waterton field development drilling at L.S.D. 12, Sec. 32, Twp. 6, Rge. 2 W5M has encountered structurally high Mississippian and intermediate casing has been set and drilling is proceeding ahead without difficulty to a total depth of 3,705 meters (12,041 feet). The well is drilling approximately three miles southeast of Canadian 88's original L.S.D. 4, Sec. 18, Twp. 7, Rge. 2 W5M Waterton discovery on land purchased last year for $3.25 million by Canadian 88 and it delineates the southerly portion of Canadian 88's large Waterton foothills discovery. In addition, the Company said that it will be spudding new wells at L.S.D. 3, Sec. 7, Twp. 7, Rge. 2 W5M and L.S.D. 16, Sec. 13, Twp. 7, Rge. 3 W5M drilling to 4,590 meters (14,917 feet) and 4,677 meters (15,200 feet) respectively on the prospect within the next 30 days. The Waterton play is being developed 100 percent by Canadian 88 Energy Corp. with Prize Energy Inc. having a 10 percent carried interest in the project. Based on test results to date, the companies estimate that approximately 90 mmcf/d of natural gas production from the prospect will be tied-in for production from the new field during 1998 with an average of only 15 percent H2S, exceeding original production estimates.

To: Kerm Yerman who wrote (8300)	1/6/1998 3:13:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING - PROPERTY ACQUISITION / BXL Energy Private Placement & Acquires Producing Property At Wilson Creek/Westerose BXL ENERGY LTD. ASE SYMBOL: BXL JANUARY 6, 1998 BXL Energy $948,375 Private Placement Property Acquisition CALGARY, ALBERTA--BXL Energy Ltd. announces that in late December 1997 it completed a private placement of 1,405,000 flow-through common shares at $0.675 per share for proceeds of $948,375. Pursuant to the offering, BXL will renounce certain exploration and development related income tax benefits to subscribers. Including the private placement completed in early December 1997, BXL has raised $1,690,875 in new equity through the issuance of 2,505,000 flow-through common shares, all at $0.675 per share. Proceeds from both issues will be invested in BXL's exploration and development program in Alberta. The company also announces that it recently completed a property acquisition in its core area of Wilson Creek/Westerose which added production of approximately 40 barrels of oil equivalent per day. This acquisition is strategic in that BXL has increased its ownership in key producing wells, production enhancements exist through the rework of existing well bores and most importantly, BXL has doubled its ownership in gas gathering and compression facilities in an area where company production is on the increase. BXL Energy Ltd. is engaged in the acquisition, exploration, and production of oil and gas reserves in Alberta. Including the shares issued in connection with the above mentioned private placements, BXL has 19,755,405 common shares outstanding.

To: Kerm Yerman who wrote (8300)	1/6/1998 3:16:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Mesquite Resources Private Placement MESQUITE RESOURCES INC. ASE SYMBOL: MQT JANUARY 6, 1998 Mesquite Resources Inc. Announces Closing of Private Placement CALGARY, ALBERTA--MESQUITE RESOURCES INC. (ASE-MQT) announces that it has completed private placements of an aggregate of 822,619.5 Flow-Through Special Warrants at a price of $0.65 per Flow-Through Special Warrant for gross aggregate proceeds of $534,702.67. Each Flow-Through Special Warrant is exercisable for one Unit comprised of two Common Shares of Mesquite, to be issued on a flow-through basis, and one Warrant. The Warrant entitles the holder to acquire one Common Share of Mesquite to be issued on a non-flow-through basis at a price of $0.40 for a period of one year following the issuance of the Flow-Through Special Warrants. Canaccord Capital Corporation acted as agent in placing the Flow-Through Special Warrants and received a commission for such sales of $15,190.13 cash and 73,029 Agent's Special Warrants. Each Agent's Special Warrant will entitle Canaccord to receive, for no additional consideration, one non-transferable share purchase warrant to acquire one Common Share of Mesquite at a price of $0.40 per share for a period of 12 months from the date of issuance of the Flow-Through Special Warrants. The proceeds from the private placements will be used to incur expenditures which will qualify as Canadian Exploration Expense and Canadian Development Expense in an amount not less than the aggregate subscription amount, for renunciation to the holders of the Common Shares issued on a flow-through basis. Mesquite Resources Inc. is a Calgary-based company engaged in the acquisition, exploration and development of oil and gas properties in western Canada.

To: Kerm Yerman who wrote (8300)	1/6/1998 3:21:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES - TOP 21 LISTED / Northrock Resources & Gulf Canada Resources Reach Agreement Related To West Central Alberta Activity NORTHROCK RESOURCES LTD. TSE SYMBOL: NRK AND GULF CANADA RESOURCES LTD. TSE, ME, NYSE SYMBOL: GOU JANUARY 6, 1998 Northrock Resources and Gulf Canada Reach Agreement on Strategic Alliance in West Central Alberta CALGARY, ALBERTA--Northrock Resources Ltd. ("Northrock") and Gulf Canada Resources Limited ("Gulf") announced today that a formal agreement has been executed to establish a Strategic Alliance to explore and develop an extensive land base in West Central Alberta. The Alliance will be positioned as one of the dominant natural gas players in the region. This is further to the initial announcement of October 20, 1997. Effective January 1, 1998, the agreement establishes an Area of Mutual Interest ("AMI") covering an extensive geographical area that includes 370 contiguous townships of land in West Central Alberta. Within these townships Gulf and Northrock currently have a combined 750,000 net acres of undeveloped land. The agreement lays out the innovative steps by which Gulf and Northrock will align their exploration and development initiatives in the region. Northrock will manage the entire exploration and development program. As opposed to an initial cash equalization, each party will have the right to earn in the other's land base by paying a disproportionate share of capital during the drilling and completion phase of the operation. Costs for all future activity beyond initial drilling, including land, seismic and property acquisitions, will be shared on an equal bases between Northrock and Gulf. By the end of January, Gulf and Northrock will establish 1998 capital spending and production targets for the West Central Alberta area. Production growth, finding and development costs and reserve additions will represent jointly agreed targets with capital incentives or penalties tied to performance. The agreement also contemplates a review towards further potential alignment of Northrock's and Gulf's production bases in West Central Alberta and possible extensions beyond the existing AMI boundaries. As part of the agreement, Northrock has issued to Gulf warrants to purchase 600,000 Northrock common shares with an exercise price of $24.90 per share (closing price of Northrock common shares the day before the initial announcement) exerciseable by July 1, 1999. The warrants represent approximately 2.5 percent of Northrock's current outstanding shares. Northrock is an oil and gas company with a current market capitalization of approximately $550 million listed on the Toronto Stock Exchange under the trading symbol "NRK". Northrock, as a result of this increased initiative in West Central Alberta, has uplifted its projected average production levels for 1998 to 23,000 barrels of oil equivalent per day, an increase of approximately 65 percent over average 1997 levels. CIBC Wood Gundy Securities Inc. and Midland Walwyn Capital Inc. have acted as financial advisors to Northrock regarding this transaction. Gulf is an international oil an gas exploration company listed on the New York, Toronto and Montreal stock exchanges under the trading symbol "GOU".

To: Kerm Yerman who wrote (8300)	1/6/1998 3:39:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Cotton Valley Resources Convertible Debt Financing And Provides Corporate Update COTTON VALLEY RESOURCES CORPORATION CANADIAN DEALING NETWORK SYMBOL: CVZC AMEX SYMBOL: KTN JANUARY 6, 1998 Cotton Valley Completes US$4.3 Million Convertible Debt Financing and Acquisition of Two Well Service Rigs DALLAS, TEXAS--Cotton Valley Resources Corporation (AMEX - KTN) (CDN - CVZC) announced today that it closed the private placement of US$4,320,000 of its 7 percent Secured Convertible Debentures to a group of eight investment firms led by a Ft. Worth, Texas institutional energy investor. Initial funds were used to complete the acquisition of two recently rebuilt well servicing rigs and related transportation and service equipment for a total cost of US$1.2 million. The remainder of the funds are scheduled to be used in connection with commercial bank financing now under negotiation for the pending acquisition by Cotton Valley of producing oil and gas wells in the Zama Lake area of the Province of Alberta, Canada. The convertible debentures have a term of four years and are secured by current and future equipment purchases and, upon completion of the Zama acquisition, a second lien interest in the acquired properties. Following the effectiveness of registration with the Securities and Exchange Commission, the debentures will be convertible into a maximum of 2.4 million Cotton Valley common shares and 600,000 warrants at prices related to the market at the time of conversion, with limits on rights to convert if the market falls below a floor price of US$1.80 per share. The conversion price is the lesser of US$2.70 per share or 90 percent of the average of the three lowest closing bid prices during the ten trading days prior to notice of conversion. During any 30-day period, any investor may not convert more than 10 percent of his original debentures at a conversion price less than the floor price; and Cotton Valley may elect to redeem (for a 10 percent premium) any debentures tendered for conversion at any price below the floor price. The well service rigs and most of the related equipment have been moved to the Odessa, Texas yard of Cotton Valley's wholly-owned subsidiary, Mustang Well Servicing Company, formerly named Mustang Drilling Company. Following tooling out and minor adjustments, the rigs are scheduled to begin workover and horizontal drilling re-entry operations during February on Cotton Valley's 2,000 acre Means Unit in Andrews County, Texas and 6,000 acre Sears Ranch Prospect in Nolan and Fisher Counties, Texas. According to Jim Hogue, Cotton Valley's president and chief operating officer, "The continuous use of our own rigs will expedite the development program on our properties and will increase production substantially during the coming year." The previously announced acquisition of interests in approximately 50 producing wells in the Zama Field is scheduled to close during January and is expected to add approximately 300 barrels of oil per day and 7,000,000 cubic feet of gas per day net to Cotton Valley's production. Cotton Valley is a fast growing, independent oil and gas company with property interests in the states of Texas, Oklahoma and California. Cotton Valley also purchases and resells oilfield equipment and provides horizontal drilling services through its Mustang subsidiaries. There are approximately 17 million common shares outstanding.

To: Kerm Yerman who wrote (8300)	1/6/1998 3:50:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Tappit Resources To Drill Red River Well TAPPIT RESOURCES LTD. ASE SYMBOL: TPT JANUARY 6, 1998 Tappit to Spud Red River Test Well REGINA, SASKATCHEWAN--Tappit Resources announces that the surface lease is being prepared for a well to test the Red River Formation near Kisbey, Southeast Saskatchewan. The 2560 metre deep well is expected to spud Thursday, January 8. Tappit has a 40 percent working interest in the well. Tappit also announces that 2,388,864 warrants (expiry date December 15, 1997) were exercised providing proceeds of $716,659 to Treasury. At today's date there are 27,758,577 shares outstanding. Tappit currently has working capital of approximately $1,500,000.

To: Kerm Yerman who wrote (8300)	1/6/1998 5:30:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Centurion Energy Int'l Spuding Ezzaouia Well No. 12 CENTURION ENERGY INTERNATIONAL INC. TSE SYMBOL: CUX JANUARY 6, 1998 Centurion Announces Spudding of Ezzaouia Well No. 12 CALGARY, ALBERTA--Centurion Energy International Inc. (CUX-TSE) announces that the Ezzaouia No. 12 well located in the Ezzaouia oilfield on the southeast coast of Tunisia, was spudded on December 27, 1997. The well is being directionally drilled to test the fractured Jurassic M'Rabtine reservoir at a vertical depth of 2200m subsea. Production from the well will be tied in immediately to the company's existing processing facilities for delivery by pipeline to the Port of Zarzis. Centurion, through its wholly owned subsidiary, Ecumed Petroleum Zarzis Ltd., holds a 31.3 percent interest in the Ezzaouia oilfield which is currently producing approximately 3800 barrels of oil per day from 2 wells in the Cretaceous Zeebag and 5 wells in the Jurassic M'Rabtine formations. Centurion Energy International Inc. trades on the Toronto Stock Exchange under the symbol "CUX".

To: Kerm Yerman who wrote (8300)	1/6/1998 8:12:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. AGREEMENT / CORDEX Petroleums Set To Explore And Develope South American Properties CORDEX PETROLEUMS INC. TSE SYMBOL: CZX.A JANUARY 6, 1998 Cordex Petroleums Inc. Has Signed Agreements DENVER, COLORADO--CORDEX Petroleums Inc. has executed agreements with AXEM-EG LLC, Westport Oil and Gas Company Ltd. and Minnowburn Corporation to fund exploration and development work on CORDEX's Austral Basin Fell Block, an oil and gas concession in Chile, and its Del Mosquito concession in the Austral Basin of Argentina. Axem, Westport and Minnowburn will invest US $10 million with CORDEX Petroleums on these projects. Included in the total is $1.5 million, which was an advance to CORDEX Petroleums. The remaining $8.5 million will be invested in 3-D seismic, workovers, and other drilling activities. Axem, Westport and Minnowburn will spend $3.5 million in 3-D seismic and workovers to earn a 36 percent interest in the Fell Block in Chile. Axem, Westport and Minnowburn can earn an additional 14 percent of CORDEX's interest in the concession by investing an additional $2.5 million in various development activities on the concession. Axem, Westport and Minnowburn will invest $2.5 million in the Del Mosquito concession in Argentina to earn a 50 percent interest in the concession. The initial work will consist of a 3-D seismic shoot followed by drilling activity on the concession.

To: Kerm Yerman who wrote (8300)	1/6/1998 8:17:00 PM
From: Kerm Yerman	Read Replies (13) \| Respond to of 15196

FINANCING / Meridian Energy Corp. Private Placement MERIDIAN ENERGY CORPORATION ASE, VSE SYMBOL: MDG JANUARY 6, 1998 Meridian Energy Corp.: Brokered Private Placement CALGARY, ALBERTA--MERIDIAN ENERGY CORPORATION (the "COMPANY") is pleased to announce that it has completed its brokered private placement of Special Warrants sponsored by Canaccord Capital Corporation which was originally announced on December 1, 1997 and modified on December 10, 1997. A total of 312 Special Warrants at a price of $5000.00 per Special Warrant were subscribed for representing aggregate gross subscription proceeds of $2,060,000. The Special Warrants consist of 134 Flow-Through Special Warrants and 178 Ordinary Special Warrants. Each Flow-Through Special Warrant entitles the holder to acquire, for no additional consideration, 10,000 Class A Common 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. Each Ordinary Special Warrant entitles the holder to acquire, for no additional consideration, 12,500 Common shares and 12,500 share purchase warrants. Each share purchase warrant entitles the holder to subscribe for one Class A Common share for a subscription price of $0.50 per Class A Common share until December 31, 1998. The Company has agreed to use commercially reasonable efforts to qualify a prospectus in Alberta and British Columbia on or before May 1, 1998 so that the Class A Common shares issued under the Special Warrants will be free trading. Upon exercise of the Special Warrants, a total of 4,565,000 Class A Common shares will be issued. At that time, the Company will have total 12,276,750 Common shares issued and outstanding. Proceeds from the private placement will be used to incur intangible exploration and development costs, equipping costs and for general working capital to fund the Company's exploration and development program in the upcoming year.

To: Kerm Yerman who wrote (8300)	1/7/1998 8:21:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Sharon Energy Ltd. Private Placement Tuesday January 6, 8:00 pm Eastern Time Company Press Release SOURCE: Sharon Energy, Ltd. Sharon Energy Ltd. Announces Private Placement Financing ENGLEWOOD, Colo., Jan. 6 /PRNewswire/ -- Sharon Energy Ltd.(Vancouver: SHY - news) reported that it has arranged abrokered private placement with Canaccord Capital Corporation of 3,500,000 Special Warrants at a purchase price of Cdn$0.20. Each Special Warrant will be exchangeable for a unit, for no additional consideration, consisting of one share of the Company's common stock and one Common Stock Purchase Warrant. Two Common Share Purchase Warrants are exercisable to purchase one share of the Company's common stock within six months of subscription at a price of Cdn$0.25 per share. Both the Special Warrants and the Common Share Purchase Warrant will be nontransferable. Sharon Management intends that the exchange of the Special Warrants for shares and Common Stock Purchase Warrants will be qualified by an exchange offering prospectus filed with the VSE and the BC Securities Commission within six months of subscription. As Lead Agent of the Offering Canaccord will receive a corporate finance fee of 200,000 common shares. There will be a seven percent (7.0%) commission to broker-dealers on sale of all Units sold, as well as issuance of 400,000 Broker's Warrants which allow the holder to purchase one common share of the Company for a period of up to six months at a price of Cdn$0.20 per share. The net proceeds of the offering to Sharon are expected to be approximately Cdn$651,000 and will be used for work commitments in a new project located in Cameron Parish, Louisiana. Sharon Energy Ltd. is an oil and gas exploration and production firm headquartered in Englewood, Colorado, with gas properties in California. Sharon specializes in the application of high-resolution 2-D and 3-D seismic to reduce exploration risk and enhance development opportunity. Sharon trades on the Vancouver Stock Exchange (''SHY'').