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

To: Kerm Yerman who wrote (8607)	1/22/1998 10:30:00 AM
From: Herb Duncan	Respond to of 15196

ACQUISITIONS-MERGERS TOP 21 LISTED / Northrock Resources Announces Paragon Share Purchases TSE SYMBOL: NRK JANUARY 22, 1998 CALGARY, ALBERTA--Northrock Resources Ltd. ("Northrock") announced that it has purchased, through the facilities of The Toronto Stock Exchange, 96,100 common shares of Paragon Petroleum Corporation ("Paragon") for an aggregate purchase price of $0.4 million. The highest price paid was $3.80 per Paragon common share. The Paragon common shares purchased today, combined with purchases on January 19, 1998 and January 20, 1998 of 1,403,900 common shares, represent 4.8 percent of the outstanding number of Paragon shares. To date, the average price paid for purchases of Paragon common shares by Northrock was $3.79 per share. Northrock has mailed to all holders of common shares of Paragon an offer and bid circular (the "Offer") dated January 12, 1998. Pursuant to the Offer, Northrock offers to purchase all of the issued and outstanding common shares of Paragon on the basis of $4.10 Canadian cash per Paragon common share or 0.19 of a Northrock common share for each Paragon common share, or a combination thereof. It is intended that the Paragon common shares acquired today by Northrock will be included in determining whether the 66 2/3 percent minimum acceptance condition set out in the Offer has been fulfilled. Northrock is an oil and gas company listed on The Toronto Stock Exchange trading under the symbol "NRK".

To: Kerm Yerman who wrote (8607)	1/22/1998 10:32:00 AM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

PROPERTY DISPOSITION / Rio Nevada - Enhanced Exploration Program and Completion of Disposition of Certain Oil and Gas Interests ASE SYMBOL: RN JANUARY 22, 1998 CALGARY, ALBERTA--RIO Nevada announces that it has signed a seismic option agreement with Millennium Energy Inc. to participate in a 3-D seismic program in the Rumsey area of East Central Alberta. The seismic program is expected to be completed during the First Quarter 1998 with the Company, on completion of the program, having the option to participate in an exploratory test well. The Company has also signed a seismic option agreement with Maxwell Oil & Gas Ltd. in the Thompson Lake Area of Eastern Alberta. A 3-D seismic program is scheduled for the First Quarter 1998 and upon completion, the Company has the option to participate in an exploratory test well to evaluate the oil potential of the Cummings Formation. RIO Nevada and Maxwell Oil & Gas Ltd. together with a third industry partner were successful in acquiring the petroleum and natural gas rights in three separate leases at the December 10, 1997 Alberta Crown Sale. The maximum bid paid per hectare was $738.00 for one of the leases with RIO Nevada holding a 33.33 percent working interest in all lands. A 3-D seismic program is scheduled for the First Quarter 1998 with plans to follow up with an exploratory test well in the Second Quarter 1998. The target is the oil bearing Dina/Basal Quartz Formation which is an established producing zone with an extensive reserve base in the immediate area. The disposition of RIO Nevada's oil and gas interests in the Norbuck Lake area of West Central Alberta was successfully closed in December 1997 with an effective date of October 1, 1997 allowing the Company to focus entirely on its ongoing exploration and acquisition program throughout 1998. RIO Nevada also announces that, subject to regulatory approval, it granted a total of 200,000 stock options to three persons in accordance with its Stock Option Plan, such options having an exercise price of $0.30 per share expiring January 19, 2003. RIO Nevada is an emerging oil and gas exploration, development and production company. RIO Nevada common shares trade on The Alberta Stock Exchange under the symbol RN.

To: Kerm Yerman who wrote (8607)	1/22/1998 10:34:00 AM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Dakota Resources to Close Seismic Acquisition; Second Acquisition Targeted; Financing Increased ASE SYMBOL: DAK JANUARY 22, 1998 CALGARY, ALBERTA--Further to its last press release on November 20, 1997, DAKOTA RESOURCES LTD. is pleased to announce that it has advanced to a formal purchase agreement to acquire 100 percent of FASTWAY EXPLORATION LTD., a 12 year old seismic company based in Calgary. As previously disclosed, this acquisition will immediately provide Dakota with definitive cash flows, assets and profitability. Fastway's revenue and income for the first 4 months of this fiscal year is ahead of last year's performance by a considerable margin, and ahead of expectations. It should be noted that the acquisition is based on a share purchase, meaning that all of this performance is credited to Dakota upon closing. Consideration for the transaction has been changed to a purchase price of $800,000 cash rather than for the cash and shares as previously reported. The closing date remains unchanged at January 30, 1998. Dakota is currently in advanced discussions with a major Canadian bank regarding capital debt (and operational credit facilities) for the partial funding of this transaction. This reflects the strength of the deal and assists the future growth of the company increasing the amount of available working capital and establishing a long-term banking relationship. Dakota has also changed the private placement to $1,000,000 by way of units at $0.25 per share. Each unit will entitle the purchaser to one common share and one share purchase warrant exerciseable at $0.40 and expiring June 30, 1998. This is a change from the $0.30 share purchase warrant expiring 18 months from subscription as previously reported. Management feels that a shorter expiry enhances the salability of the issue to private and institutional investors. Additionally, the company has identified additional take-over targets that justify the increase in the size of the private placement. Dakota has received conditional approval from the Alberta Stock Exchange for this placement. Further to this, Dakota is also pleased to announce that it has entered into a letter of intent, as of January 20, 1998, to acquire 100 percent of the issued and outstanding shares of 742308 Alberta Limited (operating as GL Fabrications). The company is an oilfield fabrication company specializing in atmospheric tanks, pressure vessels and related oilfield equipment. The company has been in operation for six months and has a current order book exceeding $500,000, assets of $300,000 and is expected to have sales for this fiscal year exceeding $6,000,000. Consideration for the transaction is for 1,000,000 shares released at one-third intervals over three years on an earn-out basis at a ratio of one share released for every $1.00 in earnings before interest, taxes, depreciation and amortization (EBITDA). Dakota is undergoing an additional period of due diligence and if satisfied expects to close the acquisition on March 1, 1998. The company is returning to its roots in the oil and gas sector, specifically in service. It has completed a comprehensive business plan and views these two acquisitions as an excellent start to its refocus. The company has added a website and email address which are www.telusplanet.com/public/dakotar and Dakota_Resources@telusplanet.net.