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

To: Arnie who wrote (8391)	1/10/1998 11:57:00 AM
From: Kerm Yerman	Respond to of 15196

GENERAL / Sable Island Progress Halliburton Company's (NYSE: HAL) Brown & Root business unit and its joint venture partner, AGRA Monenco, have received authorization to move ahead in their role as project managers, engineers and procurement contractors for the Sable Offshore Energy Project, a $3 billion pioneer development of Canada's first offshore natural gas field. This week's groundbreaking ceremonies for the key onshore facility, 300 kilometers northeast of Halifax, marks the beginning of two years of onshore and offshore construction activity. Construction of the $2 billion first tier of the project, scheduled for completion by December 1999, includes facilities and gathering lines at Thebaud, North Triumph and Venture fields as well as all onshore facilities. The second tier development cost is estimated at more than $1 billion and includes the facilities and gathering lines for the Alma, Glenelg and South Venture fields and will be progressively completed by 2006. "We are pleased to be a key player in the first major oil and gas alliance contract on the east coast of Canada," said Dave Lesar, president and chief operating officer of Halliburton, Brown & Root's parent company. "SOEP's alliancing approach helps ensure an integrated team that will lower development and operating costs and deliver significant improvements in project value in support of Nova Scotia's long-held goal of bringing offshore natural gas to market." In addition to engineering, procurement, and project management responsibilities, Brown & Root has three additional roles in the project: -- Brown & Root and partners AGRA Monenco and BMS Offshore Ltd. will provide construction management services for the project's onshore facilities including a gas processing plant at Goldboro, a natural gas liquids pipeline, and fractionation facilities at Point Tupper. Future construction subcontracts for the onshore facilities will generate hundreds of jobs in Nova Scotia throughout 1998 and 1999. -- Brown & Root and its partner, MM Industra, were awarded a contract last summer for fabrication of two drilling jackets, which are substantially complete at MMT's fabrication yard in Dartmouth, Nova Scotia, and are scheduled to be installed on location in March 1998 to enable drilling activities to commence in April. -- Brown & Root and MMI have been awarded the fabrication of the North Triumph deck which will be fabricated in Dartmouth commencing May 1998. In conjunction with other alliance partners, Brown & Root will move forward to design, construct and install the four offshore platforms, accommodation modules, onshore gas processing and handling facilities and the laying of approximately 400 kilometers of pipelines. SOEP participants are Mobil Oil Canada Properties Limited, Shell Canada Limited, Imperial Oil Resources Limited, Nova Scotia Resources Limited, and Mosbacher Operating Limited. Halliburton is one of the world's largest diversified energy services, engineering, maintenance, and construction companies. Founded in 1919, Halliburton provides a broad range of energy service and products, industrial and marine engineering and construction services.

To: Arnie who wrote (8391)	1/10/1998 12:07:00 PM
From: Kerm Yerman	Respond to of 15196

STOCK EXCHANGES / TSE 300 Composite index Annual Revisions TORONTO, Jan. 8 /CNW/ - The Toronto Stock Exchange, in conjunction with the Index Committee, has completed its Annual Revision analysis for the TSE 300 Composite Index and wishes to announce the following changes to be effective at the open on Friday, February 20, 1998. These revisions also affect the composition of the TSE 200 Index. The stocks included and deleted as a result of these changes will be included in and deleted from the TSE 200 Index at the open on Friday, February 20, 1998. Please note: the Annual Revision to the TSE 100 Index will be compiled as of the last trading day in February, 1998 and effective at the opening of the same day as expiry of the March options and futures contracts (March 20, 1998). The following stocks will be removed: Company Symbol Index ------- ------ ----- 1. Asia Pacific Resources Ltd. APQ 6.7 Chemicals & Fertilizers 2. Campbell Resources Inc. CCH 2.3 Gold & Precious Minerals 3. Ocelot Energy Inc. Cl.B OCE.B 3.2 Oil & Gas Producers 4. Pan East Petroleum Corp. PEC 3.2 Oil & Gas Producers 5. Pioneer Natural Resources Ltd. PCX 3.2 Oil & Gas Producers Exchangeable Shares 6. Rayrock Yellowknife Inc. RAY 2.3 Gold & Precious Minerals 7. Southwestern Gold Corporation SWG 2.3 Gold & Precious Minerals The following stock will be removed for failure to meet TSE 300 Criteria for Inclusion No.6 which states: Trading volume of the stock for the year immediately preceding its consideration as a candidate for inclusion in the Index must have been at least 100,000 shares and 100 transactions. Company Symbol Index ------- ------ ----- 1. Jean Coutu Group CI.A PJC.A 12.5 Specialty Stores The following stocks will be added: Company Symbol Index ------- ------ ----- 1. Breakwater Resources Ltd. BWR 1.2 Mining 2. Boardwalk Equities Inc. BEI 7.3 Real Estate 3. Computalog Ltd. CGH 3.3 Oil & Gas Services 4. Lumonics Inc. LUM 6.2 Fabricating & Engineering 5. Maax Inc. MXA 6.6 Building Materials 6. Pembridge Inc. PEM 13.5 Insurance 7. Queensway Financial Holdings QFH 13.5 Insurance Ltd. 8 Van Houtte A.L. Ltee. SV VH 5.1 Food Processing The following stock will be reclassified: Company Symbol From Index To Index ------- ------ ---------- -------- 1. Shaw Industries SHL.A 6.2 Fabricating 3.3 Oil & Gas Ltd. & Engineering Services