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

To: Arnie who wrote (8875)	2/6/1998 12:13:00 AM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Onward Energy Inc. Increases Working Interest At Joffre ONWARD ENERGY INC. INCREASES ITS WORKING INTEREST IN THE JOFFRE PROPERTY CALGARY, Feb. 5 /CNW/ - Onward Energy Inc. has agreed to acquire an additional 31.4% interest in the Joffre Viking 'D' Pool Unit in the Joffre area of Alberta. The purchase price is $60,000 with an effective date of December 1, 1997. The Acquisition increases Onward's interest in the Unit to 74.1% and adds approximately 7 barrels per day of oil to the company's existing production base. Onward's current oil production is approximately 80 barrels per day.

To: Arnie who wrote (8875)	2/6/1998 12:46:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

SERVICE SECTOR / Enertec Resource Services Inc. Acquires Interest In Enprotec Joint Venture ENERTEC RESOURCE SERVICES INC. AND ADVANTAGE ENERGY SERVICES LIMITED CALGARY, Feb. 04 /CNW/ - ENERTEC RESOURCE SERVICES INC. (''ENERTEC'') and ADVANTAGE ENERGY SERVICES LIMITED announce today that Enertec has acquired Advantage's interest in the Enprotec Joint Venture. Enprotec will continue to provide services and risk capital for production enhancements on existing fields in return for a portion of the enhanced value on a gain sharing basis. ENERTEC operates throughout North America providing land seismic data acquisition and processing services and marine geophysical surveying and positioning services. Advantage Energy Services Ltd. will continue to provide value creating production optimization and operational enhancement services to the energy industry both domestically and internationally.

To: Arnie who wrote (8875)	2/7/1998 9:03:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Cascade Oil & Gas NWT Activity CASCADE OIL & GAS LTD. ANNOUNCES ACCESS AND BENEFITS AGREEMENTS SIGNED FOR EXPLORATION LICENCE 389 1998-02-06 CALGARY, ALBERTA Cascade Oil & Gas Ltd. ("Cascade") is pleased to announce that it has signed both an Access Agreement and a Benefits Agreement with the Tulita District Land Corporation ("representing Tulita District Land Corporation, Fort Norman Metis Land Corporation, and Ernie McDonald land Corporation") covering 116,845 acres near Norman Wells in the Northwest Territories. These agreements provide the framework under which exploration activities are to be carried out on the lands over the eight year term of the Licence. The lands adjoin the Norman Wells Field, one of the largest producing oil fields in Canada today. The Norman Wells pipeline to northwest Alberta crosses this Licence, and currently has capacity available to allow rapid development of a commercial discovery. Cascade and its managed affiliate, Canadian Abraxas Petroleum Limited ("CAPL") own 20% and 80% respectively of the mineral rights on the Licence. A 90 kilometre seismic program is scheduled to commence in the next two weeks. Future plans over the next twelve months include the acquisition of additional seismic data and the possible drilling of a test well. Tulita District Land Corporation, Cascade and CAPL look forward to working together in a mutually beneficial association in the development of the oil and gas resources of this area.

To: Arnie who wrote (8875)	2/7/1998 9:07:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Green River Petroleum inc. Private Placement GREEN RIVER ANNOUNCES PROPOSED PRIVATE PLACEMENT OF SPECIAL WARRANTS FOR GROSS PROCEEDS OF $2,500,000 1998-02-06 VANCOUVER, B.C. Green River Petroleum Inc. ("Green River") (ASE: GRP) is pleased to announce that Canaccord Capital Corporation ("Canaccord") has agreed to act as agent to offer for sale, on a best efforts basis, up to 2,500,000 Special Warrants of Green River at a price of $1.00 per Special Warrant for gross proceeds of $2,500,000. Each Special Warrant shall entitle the holder thereof to acquire, at no additional cost, one common share of Green River (the "Common Shares") and one share purchase warrant of Green River (the "Warrants"). Each Warrant shall entitle the holder to purchase one additional common share of Green River at an exercise price of $1.20 per share for a period of two (2) years after the closing date. Canaccord will be paid a commission equal to 10% of the gross proceeds of the private placement of Special Warrants in cash and will be granted an agent's option to acquire that number of Special Warrants equal to 10% of the Special Warrants sold, at a price of $1.00 per Special Warrant. Green River and Canaccord expect the private placement to close in the next four weeks and Green River has committed to file a prospectus in certain jurisdictions for the purpose of qualifying the Special Warrants within 120 days of the closing date. In the event Green River fails to obtain a receipt for a prospectus qualifying the Special Warrants within 120 days of the closing date, each holder of Special Warrants will be entitled to receive 1.1 Common Shares and 1.1 Warrants for each Special Warrant held. The completion of the private placement of Special Warrants is subject to regulatory approval and Green River is required to file a formal application with The Alberta Stock Exchange within 14 calendar days of this press release.

To: Arnie who wrote (8875)	2/7/1998 9:16:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Enerflex Systems Ltd. Quarterly and Annual Earnings Report ENERFLEX SYSTEMS LTD. REPORTS RECORD QUARTERLY AND ANNUAL EARNINGS AND INCREASES DIVIDEND CALGARY, Feb. 6 /CNW/ - Enerflex Systems Ltd. reports earnings for the three months and year ended December 31. 1997. Three months to December 31 1997 1996 ---------------------------------------------------------------------- Revenues $95,523,000 $75,448,000 Net income $7,832,000 $5,417,000 Net income per common share $0.52 $0.36 Year to December 31 1997 1996 ---------------------------------------------------------------------- Revenues $336,220,000 $245,922,000 Net income $25,221,000 $16,543,000 Net income per common share $1.67 $1.10 The annual and fourth quarter results for 1997 are the highest recorded by Enerflex. The Company's operations are benefiting from the demand for the production of natural gas in both North America and internationally. Activity levels in Canada during 1997 were driven mainly by the declining pressures of existing natural gas reservoirs. In 1998, activity levels are expected to further benefit from the planned increases in pipeline capacity. Parts and service activity is steadily growing due to the high level of natural gas production, the growing installed base of compression equipment and the continuing nature of repair and overhaul cycles. Enerflex increased its international market penetration for both onshore and offshore compression systems. International revenues in 1997 were $70.6 million. Backlog and order activity for both domestic and international work continues to be very high. Return on equity in 1997 was 38% compared to 31% in 1996. The Company declared a 33.3 % increase in the quarterly dividend to $0.10 per common share payable an April 3, 1998 to the shareholders of record on March 20, 1998. In the fourth quarter the Company repurchased 15,700 common shares at an average cost of $33.79 per share. Enerflex manufactures, services and leases compressor systems for the production and processing of natural gas. In addition, the Company manufactures and services gas fuelled power generation systems. Enerflex is based in Calgary, Alberta and markets its products and services worldwide.

To: Arnie who wrote (8875)	2/7/1998 9:19:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Plains Energy Services Ltd. Private Placement PLAINS ENERGY SERVICES LTD. COMPLETES SPECIAL WARRANT OFFERING CALGARY, Feb. 6 /CNW/ - Plains Energy Services Ltd. (''Plains'') announces that it has closed the qualification of 4,200,000 special warrants issued on October 8, 1997 at a price of $12.00 per special warrant. As a result of closing the offering, Plains will receive $25 Million of proceeds in addition to $25,400,000 of proceeds, net of underwriting commissions related thereto, received previously. The proceeds from the special warrant offering will be utilized to fund construction of three coiled tubing drilling units by Fleet Coil Technologies Corp., a 100% subsidiary of Plains, as well as to fund the construction of a 75,000 sq. ft. machining, manufacturing and R&D facility for Polar Completions Engineering Inc. and Plains Perforating Ltd., also 100% subsidiaries of Plains. Finally, a portion of the offering will be utilized to construct additional underbalanced drilling surface control systems for Entest Corp., adding to their present fleet of 9 true underbalanced surface control systems. Operations for all the Plains' group of companies continue strong with final engineering specifications for Fleet Coil Technologies Corp. patented coiled tubing drilling unit having been completed, and construction to commence imminently. Delivery of the first three units is expected in May-June, 1998. Plains Energy Services Ltd. is an integrated oilfield service company providing cost-effective services in all aspects of the completions and production areas of the oilfield services business. Plains operating subsidiaries include Entest Corp., Fleet Cementers, Inc., Fleet Coil Technologies Corp., Plains Perforating Ltd., Polar Completions Engineering Inc., Round-Up Well Servicing Corp., Challenger Wireline Services Ltd. and Silverline Pressure Control Ltd. Plains Energy Services Ltd. trades on The Toronto Stock Exchange under the symbol ''PLA''.

To: Arnie who wrote (8875)	2/7/1998 9:27:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Dalton Resources Ltd. Raises $560,000 DALTON RESOURCES LTD. COMPLETES FINANCING CALGARY, Feb. 6 /CNW/ - Dalton Resources Ltd. (DAL.ASE) is pleased to announce that it has completed a $560,000 financing with Yorkton Securities Inc. of Calgary. These funds will be used for drilling expenditures on the 3-22-38-9W5M Strachan well. The 3-22-38-9W5M well is a 4275 m Cambrian test which will evaluate several potential horizons, including the Leduc D-3 and Beaverhill Lake reefs. The well is expected to spud next week taking approximately 90 days to drill and complete. Dalton and its joint venture partners (Apache Canada, First Star, Tusk and Loon Energy) hold all P&NG rights to this location.