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

To: Herb Duncan who wrote (8572)	1/22/1998 1:30:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / AltaQuest Energy Special Warrant Financing ALTAQUEST ENERGY CORPORATION ASE SYMBOL: AQF JANUARY 21, 1998 AltaQuest Energy Corporation Announces Special Warrant Financing CALGARY, ALBERTA--ALTAQUEST ENERGY CORPORATION ("AQF") announces that it has entered into an agreement with FirstEnergy Capital Corp. in respect of a proposed private placement of up to 2 million special warrants on a best efforts basis. The special warrants will be priced after a marketing period and negotiations between the Corporation and FirstEnergy Capital Corp. Each special warrant will entitle the holder thereof to acquire one common share of the Corporation upon exercise thereof. The special warrants will be issued pursuant to exemptions from the prospectus requirements of applicable securities law and the private placement is expected to close in late February, 1998. The proceeds will be used to fund AltaQuest's ongoing domestic and United Kingdom exploration and development activities. Further, AltaQuest has appointed L. Neale Cruickshank to serve as Vice President of Finance and Chief Financial Officer. Mr. Cruickshank was previously an officer of a publicly traded intermediate oil and gas company and has 15 years of industry experience in serving in such capacity. AltaQuest Energy Corporation ("AQF") is a publicly traded company on the Alberta Stock Exchange.