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

To: Arnie who wrote (8382)	1/10/1998 12:24:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING - FIELD ACTIVITIES / Raptor Capital Flow Through Shares RAPTOR CAPITAL CORPORATION ANNOUNCES SUCCESSFUL FLOW-THROUGH FINANCING CALGARY, Jan. 09 /CNW/ - Norman J. Mackenzie, President of Raptor Capital Corporation (Raptor) is pleased to announce the closing, December 31, 1997, of the sale of 578 Flow-through Units. Raptor received net proceeds of approximately $1,570,280 after deducting expenses and issued 2,890,000 common shares. Additionally Raptor issued 289,000 shares purchase warrants convertible to common shares at a price of $0.60 per common share for a period of one year. Raptor currently has 19,563,250 Common shares issued and outstanding. Raptor has $1,900,000 in its treasury and is producing approximately 550 BOE/day from its properties at Minton, Saskatchewan and Pickell Creek, British Columbia. Raptor will use the proceeds of the Flow-through financing for exploration and development in Western Canada as follows: Pickell Creek, British Columbia In December 1997 Raptor spent approximately $300,000 to install compression at its Pickell Creek gas field. The field is currently producing at a stabilized production rate of 4.50 MMCF/day or 325 BOE net production to Raptor. Minton, Saskatchewan Raptor will spend approximately $400,000 to perforate one Red River zone and re-complete two additional Red River zones with the potential of increasing current production from approximately 275 BOPD up to 500 BOPD. Raptor expects to spend an additional $2,000,000 to drill up to five development wells at Minton. Raptor has an 85% working interest in 2,800 acres with 6 producing oil wells. Turner Valley, Alberta Raptor will spend approximately $500,000 to drill a 10,000 ft. Exploratory well on its Turner Valley lands. The well will be drilled approximately four miles from a gas field that has produced over 180 BCF of natural gas. Raptor has a 30% working interest in approximately 4,000 acres in the area. Acquisitions Raptor is continually evaluating acquisitions of proven producing reserves in Western Canada. Targeted acquisitions will have considerable upside from development drilling and exploration. Raptor will fund its exploration and development projects from cash on hand, cash flow from operations and by way of farmout. Raptor's goal is to exit 1998 with production of approximately 2,000 BOE.