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

To: Herb Duncan who wrote (8876)	2/6/1998 12:29:00 AM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

FINANCING / Nortstar Energy Unsecured Senior Notes NORTHSTAR ENERGY CORPORATION TSE, ASE, ME SYMBOL: NEN FEBRUARY 3, 1998 Northstar Announces Refinancing CALGARY, ALBERTA--Northstar Energy Corporation today announced that it has reached an agreement with The Prudential Insurance Company of America for the issuance of U.S. $150 million unsecured senior notes by way of private placement. The credit spread on the notes is 111 basis points over the corresponding U.S. long term bond rate resulting in a 6.79 percent coupon. The notes are repayable in three equal installments of U.S. $50 million in years nine, ten and eleven. The funds will be applied by Northstar to the prepayment of the currently outstanding U.S. $60 million principal amount of 7.03 percent senior notes and to repay current bank indebtedness. At this time, Northstar intends to leave in place the U.S. $75 million principal amount of 6.76 percent senior notes. John Richels, chief financial officer said "we are extremely pleased with this ten year average life debt transaction and are delighted to have entered into this long term business relationship with such a major financial institution. The financing results in a favorable debt profile for the company encompassing a broad spectrum of long term, medium term and short term debt and the timing is particularly attractive given the current weakness in the Canadian dollar." Mr. Richels went on to say that "the refinancing, coupled with the recent $72.5 million sale of West Windsor Power and our ongoing debt reduction program, will result in the capitalization of the company being materially strengthened in 1998."

To: Herb Duncan who wrote (8876)	2/6/1998 12:33:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Golden Trend Petroleum Public Offering GOLDEN TREND PETROLEUM LTD. ASE SYMBOL: GTP.A FEBRUARY 4, 1998 Golden Trend Completes First Closing of Unit Offering and Moves Ahead with Redwater Development CALGARY, ALBERTA--Golden Trend Petroleum Ltd. announces it has completed a first closing of its public offering of units on January 30, 1998 for gross proceeds of $450,900.00. Rogers & Partners Securities Inc. acted as agents for this unit offering. Golden Trend expects to complete a second closing within the next thirty (30) days, raising additional funds for the Company's 1998 exploration and development program. Golden Trend also reports that, at the January 21, 1998 Alberta Crown land sale, it acquired 4080 gross acres (2040 net acres) in its core Redwater area, which will be added to its existing undeveloped lands at Redwater for future development drilling. The Company's 1998 capital plans for Redwater include the drilling of at least 3 development wells and the recompletion of several wells, which should increase gross production from the area to 6.0 mmcf/d (net 3.0 mmcf/d). Golden Trend holds a 50 percent working interest and is the operator of the Redwater gas field.

To: Herb Duncan who wrote (8876)	2/6/1998 12:37:00 AM
From: Kerm Yerman	Respond to of 15196

NEW LISTING / Progress Energy Announces Completion of Public Offering and Listing of Shares PROGRESS ENERGY LTD. ASE SYMBOL: PGX.A PGX.B FEBRUARY 3, 1998 CALGARY, ALBERTA--Progress Energy Ltd. (Progress) is pleased to announce that our Class A and Class B shares commenced trading on The Alberta Stock Exchange. Progress also announces that on December 30, 1997 we completed our initial public offering of units of Class A and B shares. Each unit consisted of 200 Class A shares and 90 Class B shares. 13,010 units were sold for gross proceeds to Progress of $13,010,000. Jennings Capital Inc. acted as agent for the offering. Progress Energy is an oil and gas company that was recently formed to participate in oil and gas exploration and development in Canada. Progress currently produces 360 barrels of light sweet oil per day from our core properties in southeast Saskatchewan and southwest Manitoba.

To: Herb Duncan who wrote (8876)	2/6/1998 12:42:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. / Vintage Resources Corp. Changes Auditors VINTAGE RESOURCE CORP. TSE, ASE SYMBOL: VRU AND DANOIL ENERGY LTD. ASE SYMBOL: DAN.A FEBRUARY 5, 1998 Vintage Announces Change of Auditor CALGARY, ALBERTA--The Board of Directors of Vintage Resource Corp. announces that it has changed auditors from Doane Raymond to Deloitte & Touche effective January 12, 1998. On August 1, 1997, Danoil Energy Ltd. announced that its offer to purchase dated June 14, 1997 resulted in the purchase of over 88 percent of the outstanding shares of Vintage. Danoil intends to proceed with a subsequent transaction to combine Danoil and Vintage at its next regular annual meeting.