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

To: Herb Duncan who wrote (8530)	1/17/1998 3:18:00 AM
From: Kerm Yerman	Respond to of 15196

MERGERS - ACQUISITIONS - NEW LISTING / Int'l Petroleum - Sands Petroleum AB INTERNATIONAL PETROLEUM CORPORATION TSE SYMBOL: IRP NASDAQ SYMBOL: IRPPF JANUARY 16, 1998 International Petroleum: Sands Takeover Bid for IPC Successful - New Sands Shares to Commence Trading on T.S.E. on January 19, 1998 and NASDAQ on January 20, 1998 VANCOUVER, BRITISH COLUMBIA--International Petroleum Corporation ("IPC") is pleased to announce that the Sands Petroleum AB ("Sands") takeover bid for IPC is now complete. Sands has acquired approximately 95.5 percent of the outstanding common shares of IPC in addition to the common shares already held by Sands. New Sands Series B shares, represented by Global Depositary Shares ("GDS"), have been issued to IPC shareholders on January 15, 1998 on the basis of 1 GDS for every 1.15 IPC shares. The GDS's will commence trading on the Toronto Stock Exchange on January 19, 1998 under the symbol "SPB" and on NASDAQ on January 20, 1998 under the symbol "SANPY". Correspondingly, IPC shares will be voluntarily delisted. IPC has been informed that Sands intends to commence, on January 19, 1998, a compulsory acquisition process as provided for by the Canada Business Corporations Act to acquire the remaining outstanding common shares of IPC. A notice will be issued to all remaining IPC shareholders that have not yet tendered their shares. Remaining shareholders will have a 20 day period in which they may tender their share certificates. At the end of this period any remaining IPC shares will be automatically canceled and Sands GDS's issued in exchange.