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

To: Kerm Yerman who wrote (8400)	1/9/1998 8:55:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Sharpe Resources to Commence Drilling Program on West Thrifty Waterflood Project - Texas SHARPE RESOURCES CORPORATION ME SYMBOL: SHO OTC Bulletin Board SYMBOL: SHGPF JANUARY 9, 1998 HOUSTON, TEXAS--Sharpe Resources Corporation is pleased to announce that the company is planning an initial ten (10) well program to produce areas of high potential oil reserves within its 100 percent owned West Thrifty Unit. This program is based partially upon preliminary field studies completed by consulting petroleum engineers, Daubens International Energy Consultants, with specific expertise in shallow sand waterflood projects. The indications are that the project has progressed as planned with predictable responses in several areas that are to be drill tested as part of the upcoming program. The field has recently pressured with pressure responses in all of the monitoring wells within the 1,000 acre unit together with surface leaks of clean oil around old well bores providing evidence of positive indications of response in the southern portion of the field. Production wells will be drilled to capture the mobilized oil. The focus of the drilling will be away from the limits of the water influx that occurred during primary depletion. Drilling will commence in the central portion of the field which have historically proven to be more productive. Such locations are preferred since fluids will tend to migrate to these areas due to the location of the water injection well(s), the greater formation thickness, and greater average permeability of the matrix. Additionally, such areas have demonstrated by virtue of their high productivity which are in pressure communication with a substantial portion of the surrounding reservoir. Sharpe will be drilling within areas of the field where individual wells produced about 3,000 BOPD during primary production in the 1930's. Potential production response could exceed expectations of 1,000 BOPD from the current drilling program. The following volumetric information and secondary recovery projections are indicated for the field as follows: /T/ Pore volume, bbls 37,973,000O Original-oil-in-place, STB 20,917,000 Primary recovery, STB 8,004,000 Recovery efficiency, percent OOIP 38 Remaining oil-in-place, STB 12,914,000 Estimated waterflood recovery, STB 4,527,000 percent OOIP 22 Total recovery from field, STB 12,531,000 percent OOIP 60 /T/ The above volumetric projections indicate a total recovery that is higher than normally achieved in sandstone reservoirs. However, the estimates appear reasonable considering the high density spacing of wells during primary recovery operations, the high gravity (41 degrees) of the crude oil, and the high horizontal and vertical permeability and porosity of the Fry reservoir. Due to a change in the company's focus with more emphasis on US production and exploration, Sharpe has elected not to pursue the Peruvian oil project at this time. This position is subject to change in the future. The company has not incurred any positive or negative financial impact as a result of this decision. Sharpe Resources Corporation cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of gas and oil prices, product demand, market competition, imprecision of gas and oil estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.

To: Kerm Yerman who wrote (8400)	1/9/1998 9:09:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Loon Energy Completes Financing LOON ENERGY INC. JANUARY 9, 1998 CALGARY, ALBERTA--On December 31, 1997 Loon Energy Inc. completed a private placement of 1,944,750 flow-through special warrants at $0.40 for gross proceeds of $777,900. McDermid St. Lawrence Securities Ltd. acted as agent. Earlier, in September, 1997, Loon completed a private placement of 2,000,000 flow-through special warrants at $0.10 for gross proceeds of $200,000. A prospectus will be filed shortly to clear for trading the common shares issuable upon exercise of the special warrants and to qualify additional common shares of the Corporation for distribution through a public offering expected to occur in early March, 1998. Loon has reciprocal participation agreements with TUSK Energy Inc. (TSE:TKE) and has arranged a farm-in on certain of their properties including a Bluesky gas prospect at Pine Creek, Alberta and a Leduc gas prospect at Strachan, Alberta. TUSK is the largest shareholder of Loon. In addition, Loon has acquired a 50 percent interest in Sparky oil prospects at Epping and Silverdale, Saskatchewan which will be developed when economic conditions are favourable. Application for listing on The Alberta Stock Exchange has been made. Loon, formerly known as Trident Systems Inc., was listed on the ASE prior to July, 1995.

To: Kerm Yerman who wrote (8400)	1/9/1998 9:14:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Second Doris Gas Plant on-Stream CROWNJOULE EXPLORATION LTD. TSE SYMBOL: CJE CJE.WT JANUARY 9, 1998 CrownJoule Announces the Hiring of Two Oil & Gas Professionals and Reports the Second Doris Gas Plant is On-Stream CALGARY, ALBERTA--CrownJoule Exploration Ltd. is pleased to announce that two experienced oil and gas professionals have recently joined the CrownJoule team. Mr. Michael H. Flanagan has recently joined CrownJoule as Vice President, Land. He holds a B.Comm. from the University of Calgary, a P. Land designation and has over 15 years of progressive oil industry experience with various companies, most recently as Land Manager with Canor Energy Ltd. Mr. Flanagan will be responsible for all land-related activities of the company. Mr. Henry VanderRee joined CrownJoule as Manager, Engineering and Business Development in November, 1997. Mr. VanderRee has a Petroleum Engineering Degree from Montana Tech., and MBA from Queen's University and has 13 years of varied oil and gas experience including reservoir engineering, evaluations and finance. Prior to joining CrownJoule, Mr. VanderRee spent the last three years at an intermediate oil and gas company in exploitation and business development. Mr. VanderRee is a Professional Engineer, and will be responsible for all engineering and evaluation related activities for the company. In other news, CrownJoule Exploration Ltd. is pleased to announce that production at the Doris South (II) Gas Plant is now into its first full month of maximum production capability of 18 Mmcf/d. With the Doris plants now achieving their combined production capabilities of 36 Mmcf/d, CrownJoule's current net production is over 1,150 BOE/d. With these production volumes and its gas marketing program anticipated to average $1.90/Mcf through this winter "heating" season, CrownJoule anticipates record revenues, cash flow and earnings in the fourth quarter. With a strong balance sheet, stable cash flow and an aggressive, strengthened management team in place, CrownJoule is poised for significant growth in 1998.

To: Kerm Yerman who wrote (8400)	1/9/1998 9:22:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Nu-Sky Private Placement NU-SKY ENERGY INC. VSE SYMBOL: NUS JANUARY 9, 1998 Nu-Sky Energy Inc. Receives Subscriptions for Private Placement CALGARY, ALBERTA--Nu-Sky Energy Inc. (Nu-Sky) announces that it has received and accepted subscriptions for the private placement of 288,500 Common Shares at $0.25 per share to be issued on a flow-through basis for gross proceeds of $72,125. Issuance of the Common Shares is subject to receiving the approval of the Vancouver Stock Exchange.