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

To: Kerm Yerman who wrote (8425)	1/12/1998 9:44:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / CityView Energy updates Drilling 1998-01-12 SOUTH PERTH, AUSTRALIA CityView Energy Corporation Limited advises that Sangkimah Well No. SST-1 at 0600 hours 12 January 1998 was at 554 metres depth. Current activity is directional drilling ahead in 81/2" hole. Yours faithfully, (Signed) P M SMYTH Chief Executive For further information contact Australia - CityView Energy North America - Zoya Financial Chris Rees Steve Basra/Jasbir Gill Tel: 011-61-89-474-1333 Tel: 416-214-2368 Fax: 011-61-89-474-5997 Fax: 416-214-2771 cityviewenergy.com email.jazz@wwonline.com

To: Kerm Yerman who wrote (8425)	1/12/1998 9:46:00 PM
From: Arnie	Respond to of 15196

CORP. / Findore Minerals Inc changes name to Cantex Energy Inc 1998-01-12 TORONTO, ONTARIO Findore Minerals Inc. (FNDR-OTC; FIMIF-BB) is pleased to announce that at a special shareholders meeting December 17, 1997 the Board of Directors was authorized to change the name of Findore Minerals Inc. to Cantex Energy Inc., more appropriately reflecting the corporate objective of developing an operating energy company. As soon as share certificates bearing the new name have been printed the CDN symbol will change to CTXE. This is expected to occur in the near future. Cantex Energy Inc., through its wholly owned US subsidiary CT Oil Inc., has purchased the non-operated working interests of Lindenwood L.L.C./ Petro Cap Inc., of Dallas, Texas in 15 producing properties in Louisiana, Mississippi, North Dakota, Texas, Oklahoma and New Mexico. Title work is completed and formal closing will occur within two weeks. Purchase price was $550,000. US, with property evaluation suggesting a value of $662,465. US. Net operating income, net of operating costs, production and ad valorem taxes is expected to be $170,000. CDN in 1998 at current commodity prices and exchange rates. Cantex income is retroactive from Dec. 1, 1997. Also independent evaluation of the Joint Venture Texas/Louisiana leases already acquired is expected to be completed in the next two weeks. For further information, please contact Mr. James Lee, President, or Mr. Colin Halanen, Investor Relations Representative at Cantex, at (416) 363-1570 or visit Cantex's website at http web.licity.com/cantex Total shares issued and outstanding: 10,119,529

To: Kerm Yerman who wrote (8425)	1/12/1998 9:48:00 PM
From: Arnie	Respond to of 15196

FINANCING / Suprex Energy receives $165,000 from Flow Through Shares 1998-01-12 CALGARY, ALBERTA SUPREX ENERGY CORPORATION (the "Corporation") is pleased to announce that the Corporation has received subscriptions for 660,000 flow-through common shares of the Corporation at a deemed price of $0.25 for each flow-through common share. The Corporation has realized $165,000 from the sale of these flow- through shares which it will use on its exploration and development activities. The Corporation intends to keep its current private placement open until February 28, 1998. The Corporation is seeking a maximum of $750,000 through the sale of 3,000,000 flow-through common shares. For further information, please contact Mr. Nello Marano, 450, 435 Fourth Avenue S.W., Calgary, Alberta T2P 3A8. The telephone number is (403) 294- 1454 and the facsimile number is (403) 265-0796.

To: Kerm Yerman who wrote (8425)	1/12/1998 9:52:00 PM
From: Arnie	Respond to of 15196

FINANCING / Destiny Resources reports 1st 6 months Results 1998-01-12 CALGARY, ALBERTA Destiny Announces Second Quarter Results ---------------------------------------- CALGARY, ALBERTA STOCK EXCHANGE: ASE January 12, 1998 SYMBOL : DSC Destiny Resources Services Corp. today announced their second quarter and six months financial and operating results for the period ended November 30, 1997. Three Months Ended Six Months Ended (unaudited) November 30 November 30 ($ thousands, except per share information) 1997 1996 1997 1996 --------------------------------------------------------------------------- OPERATING RESULTS Revenue Canada 2,022 2,246 5,645 6,557 International 7,445 4,425 13,881 6,530 --------------------------------------------------------------------------- Total Revenue 9,467 6,671 19,526 13,087 Net Earnings (Loss) 578 175 1,470 (50) Per Share (basic) 0.07 0.04 0.19 (0.01) Cash Flow from Operations (1) 1,054 613 2,316 537 Per Share (basic) 0.14 0.14 0.30 0.13 FINANCIAL POSITION Working Capital (Deficiency) 2,200 (1,750) Total Assets 18,936 11,564 Long-term Debt (2) 2,231 2,866 Shareholders' Equity 9,494 2,567 COMMON SHARE DATA Weighted Average (basic) 7,733,719 4,254,918 7,733,719 4,254,918 Weighed Average (fully diluted) 10,112,500 7,982,500 10,112,500 7,982,500 ----------------------------------------------------------------------- (1) Before net change in non-cash working capital. (2) Including convertible debentures totaling $275,000 ($665,000 - 1996), and current portion of long-term debt totaling $819,265 ($772,487 - 1996) at November 30, 1997 For the three months ended November 30, 1997, Destiny reported revenues of $9,466,788, compared to $6,670,538 a year ago. The 42 percent increase is a result of expanding international activities, primarily in Bolivia where the company is benefiting from several long-term, multi-crew projects it was awarded earlier in the fiscal year. Net earnings for the current period were $578,147 or $0.07 per share, a 230 percent increase over the $175,207 or $0.04 per share reported for the same period in 1996. The substantial earnings increase is mainly attributable to the Company's successful Bolivian operations. Cashflow from operations (before net change in non-cash working capital) increased 72 percent to $1,053,506 or $0.14 per share compared to $612,862 or $0.14 per share for the corresponding period last year. Destiny's revenue of the six-month period increased 49 percent to $19,526,240 compared to $13,087,278 in 1996 as a result of growth in all the Company's international markets, especially Papua New Guinea, Bolivia and Gabon. Year- over-year activity in Canada was slightly down this period, reflecting the exploration focus on oil rather than gas, the traditional market for Destiny's domestic heliportable drilling services. Net earnings totaled $1,470,016 or $0.19 per share, and increase of $1,519,870 or $0.20 per share over the same period last year. The improvement in earnings is the result of increased profitability in the Company's United States operations as well as increased activity levels in Papua New Guinea, Bolivia, Ecuador and Gabon. Cashflow from operations (before net change in non-cash working capital) totaled $2,315,667 or $0.30 per share, up 331 percent from $536,948 or $0.13 per share during the same period of 1996. The outlook for the remainder of fiscal 1998 and into 1999 remains strong. The recent awarding of additional long-term contracts in Bolivia, along with the prospect of securing further projects in this region, will ensure Destiny a strong finish to fiscal 1998. In additon, the Company was awarded a significant contract with a major oil and gas consortium in Papua New Guinea whereby Destiny will provide the overall management for the exploration program. This contract is seen as a major achievement for the Company and it is expected that Destiny will secure further projects of this nature in the Papua New Guinea market. Exploration activity in Western Canada continues at a healthy pace and the Company looks forward to a strong third quarter for its line clearing and drilling services. Moreover, the Company expects greater demand for its heliportable drilling services in fiscal 1999 as the exploration focus is anticipated to shift back to gas prospects. Destiny's strategy of international expansion combined with market consolidation in Canada will provide the Company and its shareholders with continued value and growth. Destiny Resources Services Corp. is a Calgary-based exploration service company providing specialized seismic drilling, line cleaning and reclamation services to the oil and gas industry in selected markets worldwide. With over 24 years of operating experience, combined with the development and use of innovative and cost-effective technologies, Destiny has grown to become a world leader in specialized seismic drilling. THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Adrian Erickson John Newman President & Chief Executive Officer Vice-President, Finance Destiny Resource Services Corp. Destiny Resources Services Corp. (403)237-6437 (403)-237-6437

To: Kerm Yerman who wrote (8425)	1/12/1998 9:55:00 PM
From: Arnie	Respond to of 15196

CORP. / Place Resources reports 21% Increase in Net Asset Value Mr. Keith W. Hern, President of Place Resources Corporation reports: Place Resources Corporation has posted a 21% increase in Net Asset Value due to the addition of new oil reserves, (based on the company's most recent independent engineering evaluation effective January 1, 1998). Net Asset Value at 1997 year end is estimated to be $3.67 per share, 73% higher than our year end closing stock price of $2.12 per share. Oil reserves in Alberta increased at Mulligan (89% owned) and Elmworth (59% owned), where two Place operated Charlie Lake waterfloods were installed in 1997. Both of these waterfloods are anticipated to commence injection in January 1998 with peak production anticipated in two to three years. << Proven + 1/2 Probable 1996 1997 Growth -------------------------------------------------------------------- Oil and liquids (thousand barrels) 4,593 5,344 16% Natural gas (million cubic feet) 25,295 26,136 3% PV 15% ($000's) 45,759 55,322 21% Net Asset Value (per Share) $3.03 $3.67 21% >> Place Resources Corporation has increased Net Asset Value by exploiting acquired development and secondary recovery opportunities using the latest technology, while divesting mature or non-core properties. This has resulted in onstream costs (the cost to find, develop and equip wells) of $4.00 per barrel of oil equivalent. Five-year onstream costs have averaged $4.91 per barrel, well below the industry average.

To: Kerm Yerman who wrote (8425)	1/12/1998 10:00:00 PM
From: Arnie	Respond to of 15196

CORP. / Upton Resources appoints New V.P. Exploration CALGARY, Al., Jan. 12 /CNW/ - (URC - TSE) Scott Dutton, President & C.E.O. of Upton Resources Inc. announced this morning the promotion of Upton's Geophysical Manager, Mr. Andy St. Onge, to Vice President of Exploration. Mr. St. Onge replaces Mr. Dean Potter, who was released by Upton on Friday, January 9. Mr. St Onge brings 15 years industry experience to his new position, and will have immediate supervisory responsibility for Upton's exploration team which includes three geologists and one other geophysicist. Upton's 1998 drilling program of 60 plus wells is off to a fast start with 5 wells currently underway. Exploration drilling includes 2 wells in Montana and Upton's first well at Tracey Mountain, Montana. The Tracey Mountain well is now drilling horizontally in the Mississippian Fryburg and should see production testing in 10 to 14 days. Development drilling is ongoing horizontally at Cantal, offsetting two excellent 300 plus BOPD wells drilled by Upton in late 1997, and vertically at Parkman. Current production of 5300 - 5400 BOPD is ahead of Upton's first quarter 1998 target of 5200 BOPD and new wells are being completed for production at Willmar, Palomino and Palmyra. Upton is confident that its initial 1998 development production target of 5500 BOPD will be upgraded to reflect the better than predicted performance of the companies drilling program.

To: Kerm Yerman who wrote (8425)	1/12/1998 10:03:00 PM
From: Arnie	Respond to of 15196

JOINT VENTURE / Gulf Canada Resources and Merit Energy Ltd. (Merit Toronto Stock Symbol ''MEL'') CALGARY, Al., Jan. 12 /CNW/ - Effective January 1, 1998, Merit Energy Ltd. and Gulf Canada Resources Limited entered into a Letter of Understanding to govern a Joint Exploration Alliance in the Chinook-Sedalia area of Alberta. The alliance provides the opportunity for Gulf and Merit to explore for hydrocarbons within a designated joint exploration area consisting of 85 townships, in which the companies combined undeveloped land base approximates 420,000 acres. This arrangement has an initial term of two years and includes an Area of Mutual Interest extending over the entire joint exploration area. Acquisitions within the Area of Mutual Interest will be shared by Merit as to 60 percent and Gulf as to 40 percent and includes all land and asset acquisitions. This alliance ensures the availability of resources for long term growth and captures technical expertise from both companies. Included in this joint venture is an agreement to pool all proprietary seismic data to enhance the development of future prospects. Merit will assume the responsibility of operator and currently anticipates capital expenditures in the range of $20 million dollars in 1998. The 1998 budget will include the drilling of greater than 50 wells in the area with each party having the right to participate. The deal will allow both companies to maximize operating efficiencies through utilization of in excess of twelve processing facilities, field staff and associated infrastructure.

To: Kerm Yerman who wrote (8425)	1/12/1998 10:42:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Oiltec Resources updates Red River Drilling CALGARY, Jan. 12 /CNW/ - Oiltec Resources Ltd. (TSE:OLT) is pleased to report that its second Red River has been successfully completed. The well flowed very light gravity (39.4 degree API) water-free crude oil after perforating. Including the first success, Oiltec's two Red River wells are producing at a combined rate of 705 BOPD (387 B0PD net). Both wells are flowing, water-free, light gravity crude oil to surface with no pumping equipment. The wells are capable of much higher production rates but are being held back by chokes while each well's productive capability is determined. Even at today's sub-US$17.00 WTI oil price. Oiltec is achieving a netback of over CDN$18.00 per barrel due to the high oil quality, low royalty encumbrances and negligible operating costs. Oiltec's Fourth Red River well (100% working interest) at Weir Hill is drilling ahead smoothly at 1700 mKB and should reach total depth in about 15 days. A fifth Red River well is currently being licensed.

To: Kerm Yerman who wrote (8425)	1/12/1998 10:44:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Ridgeway Petroleum updates Arizona Project CALGARY, Jan. 12 /CNW/ - Positive results from test wells continue to strengthen confidence that Ridgeway Petroleum Corp's St. Johns Anticline in Eastern Arizona and Western New Mexico contains one of the largest quality CO(2) helium reserves in North America. Well 11-21 Arizona State : Production has been established from three zones in the referenced well as follows: Riggs Sand (formerly referred to as granite wash) Perforated from 2268'to 2396' Flow rate: 1560 MCFPD Big ''A'' Perforated from 1715' to 1974' Flow rate: 898 MCFPD Fort Apache Perforated from 1651' to 1691' Flow rate: 712 MCFFD --------- TOTAL FLOW RATE: 3170 MCFPD Testing of further wells will be reported after all zones in each well have been tested. ON BEHALF OF THE BOARD OF DIRECTORS -------------------------- Walter B. Ruck, President NO STOCK EXCHANGE HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. Certain statements in this News Release constitute ''forward looking statements'' within the meaning of the Private Securities Litigations Reform Act of 1995. Such forward looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance of achievements expressed or implied by such forward looking statements.

To: Kerm Yerman who wrote (8425)	1/12/1998 10:53:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Ranger Oil updates Operations CALGARY, Jan. 12 /CNW/ - Canada ------ The Company has entered into an alliance with a large U.S. independent, Chesapeake Energy Corporation, for operations in the Helmet area of Northeastern British Columbia. Under the agreement terms, Chesapeake will purchase a 40 percent interest in all of Ranger's properties in the area outside of the July Lake pool for CDN $71 million. All future operations in the area will be conducted on a 60/40 basis between Ranger and Chesapeake. In addition, Ranger has sold a number of non-core properties in the past month for total net proceeds of CDN $27 million. These properties are in the Joffre, Cactus Lake and Parkland areas in Alberta. The total production and reserves sold from these transactions are as follows: Production Proved & Probable Reserves ---------- -------------------------- Light Oil 130 BO/D 1.2 MM BBLS Heavy Oil 1,500 BO/D 4.1 MM BBLS Natural Gas 16 MMCF/D 70.0 BCF The first well of a three-well exploration program in the Fort Norman area, in the Northwest Territories, has recently spudded. Drilling operations have resumed on the Fort Liard exploration well in the Northwest Territories which were suspended pending the arrival of specialized equipment. In response, to the current low oil prices, a number of higher operating cost wells in the Heavy Oil Division have been shut-in. Daily heavy oil production has been reduced to approximately 19,000 barrels per day. Production and operating costs will continue to be reviewed on a well by well basis to reflect the changing economic environment. Ranger has sold its 3.3 percent equity interest in the Alliance gas pipeline. Ranger continues to support the Alliance pipeline system as a shipper. United Kingdom -------------- Ranger has completed an infill well (interest 67 percent) in the Anglia gas field. The well is currently producing approximately 30 million cubic feet of gas per day. In the Columba B Terrace, adjacent to the Ninian field, (interest 21 percent) Ranger has successfully drilled a 23,600 foot extended-reach well. The well is being initially completed as an oil producer and will be converted to water injection at a later date. Development work on the Pierce, Banff and Kyle fields and Columba E Terrace continues with new production of over 30,000 barrels of oil per day anticipated by the end of 1998. An exploration well is currently drilling on Block 44/17a in the Southern Gas Basin (interest 17.5 percent). A recent exploration well drilled on Block 20/10-b (interest 9.25 percent) was plugged and abandoned. Angola ------ Exploration well 4/21-3-1 has reached total depth and is being plugged and abandoned. The well, which encountered 183 metres of gross sand (93 metres net) with good residual hydrocarbon shows, was water wet. The drilling rig will be moved shortly to the Kiame oil field to complete two previously drilled wells with first production of approximately 7,000 barrels per day (interest 100 percent) scheduled for June 1998. Financial --------- At December 31, 1997, Ranger's total long-term debt was U.S. $442 million. Upon completion of the Helmet sale, debt should be reduced by approximately U.S. $50 million. Issued by: F. J. Dyment President and Chief Executive Officer

To: Kerm Yerman who wrote (8425)	1/13/1998 12:37:00 AM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / NCE O&G Fund Final Close NCE OIL & GAS (1997) FUND JANUARY 12, 1998 RE: NCE Oil & Gas (1997) Fund Final Close $2.5 Million -- Total Raised $21.1 Million TORONTO, ONTARIO-- John Driscoll, President of NCE Resources Group, is pleased to announce that NCE Oil and Gas (1997) Fund completed a final closing on December 31, 1997 with subscriptions for 990 units, providing gross proceeds of $2,475,000. This completes the financing for the Fund with total gross proceeds of $21,132,500 representing 8,453 units. Use of proceeds In order to provide income and tax advantages to investors, the proceeds of the offering will be used to finance the drilling of development wells and, to a lesser extent, exploratory wells and ancillary acquisitions in Western Canada. NCE Resources Group NCE Resources Group was formed in 1984 as an oil and gas investment management organization. NCE investment funds have interests in over 5,000 wells. NCE employs approximately 130 people in the areas of engineering, land management, marketing, geology, accounting, finance and investor relations. It provides a full range of technical, operational, administrative and investor services. Based on total oil and gas production, NCE ranks among the top 30 oil and gas companies in Canada.

To: Kerm Yerman who wrote (8425)	1/13/1998 12:43:00 AM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / NCE Petrofund Distribution NCE PETROFUND TSE SYMBOL: NCF.UN JANUARY 12, 1998 NCE Petrofund (NCF.UN) January Distribution 5 Cents ($0.05) /Unit TORONTO, ONTARIO-- John Driscoll, President of NCE Resources Group, announced today that NCE Petrofund Corp. has declared a cash distribution of 5 cents ($0.050) per unit for the month of January, 1998. Date payable The distribution is payable on January 30, 1998 to holders of record on January 20, 1997. Distributions are made monthly. 12 month distribution Distributions for the past 12 months total 77 cents ($0.77). Warmer weather caused by El Nino has lowered prices for both oil and natural gas resulting in reduced revenues. Increased production from Iraq has also affected oil prices. Current price The price for NCE Petrofund on the Toronto Stock Exchange at the close of the market, January 9, 1998, was $4.15 per unit. NCE Petrofund NCE Petrofund is a royalty trust that derives income from producing oil and gas properties, primarily located in Western Canada. It trades on the Toronto Stock Exchange under the symbol NCF.UN.

To: Kerm Yerman who wrote (8425)	1/13/1998 12:48:00 AM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / NCE Energy Trust January Distribution NCE ENERGY TRUST ME SYMBOL: NCA.UN JANUARY 12, 1998 NCE Energy Trust, (NCA.UN) January Distribution 10 Cents ($0.10) / Unit TORONTO, ONTARIO-- John Driscoll, President of NCE Resources Group, announced today that NCE Energy Trust has declared a cash distribution of 10 cents ($0.10) per unit. Date payable The distribution is payable January 30, 1998 to holders of record January 20, 1998. Warmer weather caused by El Nino has lowered prices for oil resulting in reduced revenues. Increased production from Iraq has also affected prices. Distributions Cash distributions to date are: Month Amount of distribution Date payable September 1997 $0.05 paid October 1997 $0.05 paid November 1997 $0.09 paid December 1997 $0.13 paid January 1997 $0.10 January 30, 1998 Total to date $0.42 NCE Energy Trust NCE Energy Trust is an investment trust designed to acquire oil and gas companies in Western Canada. The units trade on the Montreal Exchange under the symbol NCA.UN. The price at the close of the market, January 8, 1998 was $7.80.

To: Kerm Yerman who wrote (8425)	1/13/1998 12:53:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES - SPEC 15 LISTED / Thunder Energy Production Update THUNDER ENERGY INC. TSE SYMBOL: THY JANUARY 12, 1998 Thunder Energy Inc. Announces Increased Production Rates CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today significant production increases from facility start-ups and fourth quarter drilling activity. Current production is estimating 1,250 bbls/d and 7.5 mmcf/d (2,000 BOE's/d) as compared to 500 bbls/d and 6 mmcf/d (1,100 BOE's/d) in the fourth quarter 1997. The production increases are a result of the start-up of newly constructed oil and gas facilities at Rosalind, Alberta. The completion of these facilities has allowed Thunder to put on production seven of the nine horizontal wells drilled on its Ellerslie oil pool. The remaining two horizontal wells will be put on production later in the first quarter. Thunder is continuing to complete and place on production wells drilled in the fourth quarter of 1997. In that quarter Thunder drilled and operated with a 50 percent working interest a total of 17 wells, resulting in 10 gas wells, 6 oil wells and 1 dry hole. Thunder estimates remaining production of 200 - 250 BOE's/d will be brought on stream by early February. Thunder has commenced its first quarter drilling program. Two drilling rigs have been secured to drill a 7 well program. 4 wells will be drilled at Manola and 3 wells at Matziwin.

To: Kerm Yerman who wrote (8425)	1/13/1998 12:58:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Trans-Dominion Energy Trinidad Update TRANS-DOMINION ENERGY CORPORATION TSE SYMBOL: TDE JANUARY 12, 1998 Trans-Dominion Trinidad Interest Increased to 100 Percent CALGARY, ALBERTA--Extensive Exploration and Development Planned for 1998 Following Successful Drilling Program Trans-Dominion Energy Corporation announces that it has entered into agreements to increase its interest in Trinidad Exploration and Development Ltd. (Trinidad Exploration) from 71 percent to 100 percent. Trinidad Exploration has a 100 percent working interest in four leases and the Bonasse Oilfield, which are located on Trinidad's Cedros Peninsula. Mr. Vic Childs, President of Trinidad Exploration, has agreed to retain his position and head-up TDE's activities in the region. "Trinidad lies within one of the world's largest oil producing regions, has a favorable fiscal environment, and is an ideal location for TDE to develop as a second core area" said Michael J. Doherty, President and CEO of TDE, "Trinidad Exploration provides us with production and high quality exploration acreage, which is on direct geologic trend with the Pedernales Oilfield in Venezuela and is located between Trinidad's existing oilfields and recent large onshore and offshore discoveries near Pedernales. We expect cash flow to grow quickly throughout the year as we develop our Bonasse Oilfield, providing TDE with a solid base from which to expand its operations in Trinidad." FINAL 20 PERCENT OF TRINIDAD EXPLORATION TO BE ACQUIRED USING RESERVES CALCULATION. Under the terms of the agreements, TDE will increase its interest to 80 percent by acquiring an additional 9 percent of Trinidad Exploration for consideration of US $361,000, payable in new TDE shares @ Cdn. $0.41 per share. The remaining 20 percent will be acquired based on a reserve estimate, to be completed during the second quarter, with payment in the form of new TDE shares. The number of TDE shares to be issued will be calculated using the weighted average share price over a period immediately preceding the settlement date. NET PAYS RANGING BETWEEN 100 FT TO 180 FT. CONTINUOUS PRODUCTION STARTS. During 1997, three shallow wells were successfully drilled into the Bonasse Oilfield. The wells encountered net pay sections ranging between 100 ft. to 180 ft. and porosities of up to 25 percent. Continuous production from these shallow Pliocene sandstone reservoirs is expected to commence in January. A 2-D seismic program is currently underway over the area and further drilling is expected to begin in April. FURTHER EXPANSION UNDERWAY Negotiations are currently underway with a number of parties to significantly expand TDE's operations within Trinidad and to aggressively explore deeper prospects through a combination of 3-D seismic and drilling.

To: Kerm Yerman who wrote (8425)	1/13/1998 1:02:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Venture Seismic Warrant Redemption VENTURE SEISMIC LTD. NASDAQ SYMBOL: VSEIF JANUARY 12, 1998 Venture Seismic Announces Results Of Warrant Redemption - all amounts in U.S. dollars CALGARY, ALBERTA--VENTURE SEISMIC LTD. announced today that 1,523,690 of the company's 1,610,000 redeemable Warrants ("Warrants") had been exercised prior to the scheduled redemption date of Jan. 6, 1998. The 1,523,690 Warrants which were exercised represented approximately 95 percent of the total Warrants outstanding and resulted in the issuance of 1,523,690 Shares and aggregate proceeds of $9,142,140 to the company. The company now has 4,644,584 Shares outstanding. The Warrants were exercisable at an exercise price of $6.00 to purchase one Common Share (the "Shares") of the company. Under the terms of the Warrant Agreement the remaining 86,310 Warrants will be redeemed by the company at a price of $0.10 per Warrant, or $8,631 in the aggregate. The company intends to use the proceeds from the exercise of the Warrants to fund the acquisition of capital equipment and, pending finalization of the acquisition of Continental Holdings Ltd., a portion of the Warrant exercise proceeds will be applied to the acquisition cost. VENTURE SEISMIC LTD. Venture Seismic Ltd. is traded on the Nasdaq National Market System and is engaged primarily in the acquisition of land and wetlands seismic data for use in the exploration for and development and field management of oil and gas reserves. The company utilizes both traditional two-dimensional ("2D") and more technologically advanced three-dimensional ("3D") seismic data technology to acquire data on possible oil and gas reserves for its customers, which range from junior exploration companies to fully-integrated multi-national corporations. This news release may contain certain forward-looking statements that involve risks and uncertainties as detailed from time to time in Venture's SEC filings under "Risk Factors" and elsewhere. Actual results could differ from those anticipated due to a number of factors including the capital intensive nature of the company's business, its need for additional funds for operations and debt service requirements, seasonal fluctuations in operating results, dependence upon principal customers, activity in the oil and gas industry, risks associated with international operations and regulatory, competitive and contractual risks.

To: Kerm Yerman who wrote (8425)	1/13/1998 1:07:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES - SPEC 15 LISTED / Pan East Petroleum, Petromet Resources & Esker Resources casing Wild River Gas Well PETROMET RESOURCES LIMITED TSE SYMBOL: PNT NASDAQ SYMBOL: PNTGF AND PAN EAST PETROLEUM CORP. TSE SYMBOL: PEC AND ESKER RESOURCES LTD. ASE SYMBOL: ESR JANUARY 12, 1998 Petromet (79 Percent), Pan East (11 Percent), Esker (10 Percent) Casing Wild River Leduc Reef Well CALGARY, ALBERTA--Petromet Resources Limited ("Petromet"), as operator, announces the Petromet et al WildR 2-2-57-24 W5M well has reached total depth of 4,265 metres. The 2-2 well is being cased as a potential Leduc natural gas well. Petromet operates two similar Leduc gas wells in the area which produce sweet gas from an overpressured reservoir. Ownership in the 2-2 well is Petromet (79.2 percent, Pan East Petroleum Corp. (10.8 percent) and Esker Resources Ltd. (10.0 percent). Petromet owns 75 percent and operates the Wild River sweet gas plant located approximately 4 miles south of the 2-2 well. The 2-2 well will be completed and tied-in in the near future. The partners have licensed a follow-up well, Petromet et al WildR 12-11-57-24 W5M (a 4,250 metre Leduc test), to test a separate Leduc reef seismic anomaly.

To: Kerm Yerman who wrote (8425)	1/13/1998 1:12:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. / TransGlobe Energy Adopts Rights Plan TRANSGLOBE ENERGY CORPORATION TSE, ASE SYMBOL: TGL ASE SYMBOL: TGL.S NASDAQ SYMBOL: TGLEF JANUARY 12, 1998 TransGlobe Energy Adopts Rights Plan to Give Shareholders Maximum Protection in Event of Unsolicited Takeover Bid CALGARY, ALBERTA--TransGlobe Energy Corporation (TSE symbol TGL, ASE symbols TGL and TGL.S, NASDAQ symbol TGLEF) announced today its board of directors has adopted a shareholder rights plan to provide maximum protection to all its investors in Canada, the United States, Europe and elsewhere in the event of an unsolicited takeover bid for the company. "The board of directors is not aware of any effort, hostile or friendly, to seek control of TransGlobe at this time," Ross G. Clarkson, president and chief executive officer, stated. "However, the directors believe adoption of a rights plan provides a sound and reasonable means to ensure fair treatment of all shareholders should any takeover offer be made for the Company." Clarkson said the board of directors is concerned that present Canadian legislation only allows twenty-one days to consider a takeover bid. TransGlobe's board of directors does not believe this provides them with adequate time to evaluate an unsolicited offer or, if appropriate, seek an alternative to maximize shareholder value. The rights plan is similar to plans approved by shareholders of many other Canadian companies listed on The Toronto Stock Exchange. "TransGlobe's directors are not pre-disposed to reject all bids for the Company nor are we seeking takeover bids; we only wish to encourage any potential acquiror in the future to enter into negotiations with the board of directors prior to a takeover attempt," Clarkson said. Under the terms of the rights plan, which is effective immediately, the board of directors and shareholders will have more time (up to 90 days) to fully consider any offer. Shareholders will be asked to confirm the rights plan at the Company's annual general meeting to be held on March 12, 1998. The rights issued under the plan only become exercisable when a person or any person related to it acquires or announces its intention to acquire 20 percent or more of TransGlobe's outstanding common shares without complying with the permitted bid provisions of the rights plan or without the approval of the Company's board of directors. Should such an acquisition occur, each right would, upon exercise, entitle a rights holder, other than the acquiring person and related persons, to purchase common shares of the Company at an exercise price equal to half the market price of TransGlobe's common shares. Under the rights plan, a permitted bid is a bid made to all holders of the Company's common shares and is open for acceptance for not less than 90 days. If at the end of 90 days at least 50 percent of the Company's outstanding shares, other than those owned by the offeror and certain related parties have been tendered, the offeror may take up and pay for the shares, but must extend the bid for a further 10 days to allow other shareholders to tender. The plan has a term of 10 years, subject to shareholder ratification at the annual general meetings in 1998 and 2003. A material change report containing a complete copy of the plan will be filed within 10 days with the relevant Canadian provincial securities commissions and will be available on the Internet at www.sedar.com.

To: Kerm Yerman who wrote (8425)	1/13/1998 1:32:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES - TOP 21 LISTED / Talisman Energy North Sea Well Tests At 40MMCF/D ARCO North Sea gas find tests 40 MMCF/day NEW YORK, Jan 12 (Reuters) - ARCO British Ltd's recently drilled 14/26a-6 well in the Central U.K. North Sea flowed over 40 million cubic feet per day of natural gas in tests which were limited by surface facilities, the Atlantic Richfield Co subsidiary said in a statement made available in New York. The flow came at a tubing pressure of about 1,800 pounds per square inch and included an undisclosed condensate rate, the statement continued. ARCO said it plans to suspend the well, the second in its latest Central North Sea drilling campaign, in preparation for field appraisal and development activity. ''We have further work to do to quantify the reserve size, but we are optimistic it will be large enough to warrant commercialization,'' said Tom Murphy, ARCO British Ltd's Development Engineering Manager. ''We plan to drill an appraisal well as soon as practical in 1998.'' ARCO British Ltd said it is operator and has a 75 percent interest in the field. Talisman Energy Inc (NYSE:TLM - Toronto:TLM) has a 25 percent interest.

To: Kerm Yerman who wrote (8425)	1/13/1998 1:47:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Benz Energy 1997 results & 1998 Capital Budget Monday January 12, 1:25 pm Eastern Time Company Press Release SOURCE: Benz Energy Ltd. Benz Announces 1997 Results and Capital Spending Plan for 1998 HOUSTON, Jan. 12 /PRNewswire/ -- Benz Energy Ltd. (Vancouver: BZG - news) reports that the Company drilled 8 exploratory wells and has completed or is completing 5 wells for a 71% success rate with 1 well still drilling. In addition the Company drilled 4 development wells and has completed or is completing 4 for a 100% success rate. The Company also substantially increased its net production to the current level of 4.5 million cubic feet per day and 100 barrels per day. The Company's 1998 capital budget provides for a total of $43.5 million for drilling and project development. Approximately half of the capital budget will be focused on development drilling, and approximately $7 million is budgeted for drilling and testing 10 prospects and completing the drilling and testing of 2 prospects carried over from 1997. Among plans for the coming year are the drilling of the Company's Wausau prospect in Mississippi, additional exploitation at Oakvale Dome Field and exploratory drilling at Old Ocean Field and LaHinch Prospect in Texas. The Company's 1997 results include significant discoveries at Oakvale Dome Field and Reedy Creek Field. The Company's discovery well at Oakvale Dome in Jefferson Davis County, Mississippi, has performed significantly better than 3rd quarter estimates. The Kathryn Saltry Byrd #1 well has produced 664,808 MCF and 3,206 barrels of oil to date, and current daily production is 7.4 MMCF and 35 barrels of oil. In addition, 30% of the gas at Oakvale has been hedged in the futures market at $3.50 per MMBTU. The Company holds a 54.1% working interest in the prospect. Year-end re-completions of the BOE 16-3 #1 and Hosey wells at Reedy Creek Field, Jones County, Mississippi, where the Company presently has 4 wells and a 23.9% working interest, are expected to significantly improve production. The Hosey completion tested rates of up to 250 BOPD from one third of the interval to be completed, and the BOE 16-3 #1 is still underway. The remaining two wells were being completed as of year-end. The Herrin 9-7 #1 well recovered 150 barrels of oil in its first full 24 hours of testing while pipe has been run to 10,020 feet. The BOE 16-3 #2 well has had pipe run to 10,020 feet and several indicated commercial oil sands have been logged. The 2 wells currently being evaluated by Benz are the Jennings and Big Creek prospects. Jennings has been drilled to 14,630 feet and 2 indicated commercial pay zones have been logged, and the well is awaiting a completion unit. The George W. Mason 17-10 #1 well at Big Creek in Mississippi has logged significant indicated commercial pay intervals the Company is preparing to complete. The BOE 16-14 #1 well at Morgantown in Marion County, Mississippi has reached a depth of 20,304 feet and is still drilling to its targeted depth below 21,000 feet. Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas and focused on the onshore Gulf Coast of the U.S. Benz acquires and utilizes an extensive base of 3-D seismic data and acreage position, and has assembled an inventory of 28 leased exploration prospects.

To: Kerm Yerman who wrote (8425)	1/13/1998 1:56:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Dynamic Oil Announces New Gas Production Monday January 12, 10:32 am Eastern Time Company Press Release Dynamic Announces New Gas Production at St. Albert The company is pleased to announce further results from a multi-well evaluation and re-completion program at St. Albert AB. A new pool upper Manville gas discovery has been identified by perforating and testing prospective reservoir through an existing well bore. The re-completed zone flowed gas to surface at a rate of 1.54 million cu. ft. per day through 2 3/8'' production tubing. Status Engineering of Calgary has assigned reserves of 5.4 billion cubic feet of gas in-place to the new pool. The well is expected to be on stream within the next two months at an initial rate of 1.2 million cu. ft. per day through the company's raw sweet gas system at St. Albert. The gas is rich in natural gas liquids at a rate of 35 barrels per million cubic feet. The company expects to begin delivering natural gas through its new Carbondale pipeline in February, 1998 at a rate of 16.0 million cu. ft. per day. As previously announced, an additional 3.5 to 4.0 million cu. ft. per day will be contributed by the Ostracod in addition to the 1.2 million cu. ft. per day of upper Manville gas described above. As a result of our re-completion program at St. Albert, new pool gas reserves reported by the company since Dec. 19, 1997, exceed 9.90 billion cubic feet. Dynamic has a 50% working interest share in the described reserves.