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

To: Herb Duncan who wrote (8662)	1/26/1998 11:28:00 PM
From: Kerm Yerman	Respond to of 15196

REPORT - FIELD ACTIVITIES / Sharpe Resources Reserve Report SHARPE RESOURCES CORPORATION ME SYMBOL: SHO OTC Bulletin Board SYMBOL: SHGPF JANUARY 26, 1998 Sharpe Completes Oil and Gas Reserve Report HOUSTON, TEXAS--Sharpe Resources Corporation is pleased to announce that it has recently completed its yearend oil and gas reserve report for its wholly owned subsidiary, Sharpe Energy Company. The recent reserve report completed by independent petroleum engineering consultants Hainey and Hainey of Houston, Texas indicates net proven and probable reserves of 5.2 million BOE which includes 2.8 MM BOE's of proven reserves. The reserve figures indicate a net present value discounted 10 percent of more than $53 million (US $37 million) using yearend 1997 pricing for 1998 and a three percent annual escalation for the forecast period. The bulk of the asset base is attributed to the Matagorda gas project and the West Thrifty water flood unit, both projects are in Texas. The stated reserves represent a major improvement in reserve growth for the Company in 1997. Plans for 1998 are to proceed to full development of these assets. The Company currently has approximately 24,500,000 shares issued and outstanding. The drilling program on the West Thrifty Unit is in progress. Initial results of the first well indicate low oil cuts, well 1501 is under flow test. Currently, well 1501 is under natural flow at the rate of approximately 900 BOFD. Plans are to flow test the well in this manner for 30 days, oil cuts are expected to improve during this period.

To: Herb Duncan who wrote (8662)	1/26/1998 11:42:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / ICE Drilling Enterprises Acquires Percussion Drilling Services & Announces Chief Operating Officer ICE DRILLING ENTERPRISES INC. ASE SYMBOL: IDF JANUARY 26, 1998 ICE Drilling Acquires Percussion Drilling Services Ltd. CALGARY, ALBERTA--Mr. James Todd, President and Chief Executive Officer is pleased to announce the acquisition of Percussion Drilling Services Ltd. Percussion Drilling is a contract service company providing percussion hammer services, foam drilling, and engineering services to the oil industry. Percussion hammer drilling operations use engineered, field proven technology to dramatically increase drilling rate-of-penetration and reduce costly deviation problems. The president of Percussion Drilling, Mr. Matthew Swartout, P.Eng., is joining ICE Drilling Enterprises Inc. as Executive Vice-President and Chief Operating Officer effective immediately. It is anticipated that Percussion will contribute $750,000 in net income before taxes to ICE Drilling over the next twelve months with expected ongoing growth. The acquisition will be completed by share exchange with ICE Drilling issuing 1,500,000 common shares from treasury and 500,000 common share warrants exercisable at $0.90 in exchange for all the outstanding shares of Percussion Drilling Services Ltd. Effective date for accounting purposes is January 1, 1998. The acquisition of Percussion allows ICE to further serve our customers by providing foaming agents, chemicals, and associated engineering that will expand the existing service that consists of surface control equipment and on-site nitrogen services. The use of foam in Underbalanced Drilling operations reduces down hole problems, increases rates-of-penetration, and lowers cost in certain geological formations that are currently being drilled in Western Canada. ICE Drilling Enterprises Inc. is engaged in the operation and development of specialized drilling systems for underbalanced drilling operations. ALSO JANUARY 26, 1998 ICE Drilling Announces Appointment of Matthew K. Swartout to the Position of Chief Operating Officer of ICE Drilling Enterprises Inc. CALGARY, ALBERTA--Mr. James Todd, President and Chief Executive Officer is pleased to announce the appointment of Mr. Matthew K. Swartout, P. Eng., to the position of Executive Vice-President and Chief Operating Officer. Mr. Swartout has an extensive petroleum engineering background in areas of data acquisition, foam and air drilling, on-site nitrogen generation, and technical field engineering services relating to underbalanced drilling. Mr. Swartout will assume responsibility for overseeing day-to-day field operations, engineering services relating to UBD drilling operations, equipment planning and procurement, and strategic planning with respect to engineering services and equipment innovation. Mr. Swartout's extensive UBD drilling background and substantial related industry connections will allow ICE Drilling to grow the core business of UBD drilling services. ICE Drilling Enterprises is engaged in the operation and development of specialized drilling systems for underbalanced drilling operations.

To: Herb Duncan who wrote (8662)	1/26/1998 11:48:00 PM
From: Kerm Yerman	Read Replies (4) \| Respond to of 15196

CORP / Odyssey Petroleum Corp Senior Management Resignations ODYSSEY PETROLEUM CORPORATION NASDAQ SYMBOL: OILYF JANUARY 26, 1998 Odyssey Announces Resignations of Senior Management CALGARY, ALBERTA--ODYSSEY PETROLEUM CORPORATION (NASDAQ: OILYF) ("Odyssey" or the "Company") regrets to announce the resignations of David R. Robinson, President & CEO, and David W. Harrison, Executive Vice President, effective immediately. Mr. Robinson has also resigned as a Director of the Company, effective immediately. Odyssey extends its thanks for the contributions of Mr. Robinson and Mr. Harrison over the past year. Pending the successful recruitment of a new President & CEO, the Company will be managed by an Executive Committee consisting of: Carl J. Burnett (Chairman of the Board); Gilles Koch (Director); Richard M. Alexander (Director); Donald J. Blackett (General Counsel and Director); Ernie G. Pratt (Executive Vice President, Exploration and Development); and Scott Bridge (Vice President, Finance). Odyssey, a Canadian-based energy resource company, is engaged in the exploration and development of oil and gas projects on an international basis, and in the production and distribution of ethanol, primarily in the western United States.