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

To: Kerm Yerman who wrote (8908)	2/9/1998 6:54:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / CityVIew Energy update on Block GSEC 74 Philippines 1998-02-09 OSBORNE PARK, WESTERN AU MMC Exploration & Production (Philippines) Pte Ltd has been advised by Arco Philippines Inc that they expect to spud Well No. Hippo-1 in Block GSEC 74 in the Southern Sulu Sea between February 11 and 13 1998. The seismic amplitude anomalies ("bright spots") to be tested by the well lie at depths respectively of approximately 3,200 feet (975 metres), 5,300 feet (1,615 metres) and 9,000 feet (2,743) metres) : it is anticipated that these targets will be reached approximately in 15, 25 and 45 days respectively. MMC Exploration & Production (Philippines) Pte Ltd holds a net 12.5% interest in Block GSEC 74. MMC Exploration & Production (Philippines) Pte Ltd is owned 51% MMC Exploration and Production BV and 49% CityView Energy Corporation Limited's wholly owned subsidiary Western Resources N.L. Yours faithfully A P WOODS Company Secretary/Chief Financial Officer For further information contact Australia - CityView Energy North America - Zoya Financial Chris Vander Boom Steve Basra/Jasbir Gill Tel: 011-61-89-474-1333 Tel: 416-214-2368 Fax: 011-61-89-474-5997 Fax: 416-214-2771 cityviewenergy.com email.jazz@wwonline.com

To: Kerm Yerman who wrote (8908)	2/9/1998 6:56:00 PM
From: Arnie	Respond to of 15196

NORMAL COURSE ISSUER BID / Ironwood Petroleum Ltd. 1998-02-09 CALGARY, ALBERTA Ironwood Petroleum Ltd. ("Ironwood") (ASE: IWP) intends to purchase up to a maximum of 500,000 of its Class "A" Common Shares, representing 5.3% of the 9,399,892 issued and outstanding common shares at February 2, 1998 (or 9.1% of the public float of 5,580,919). This Normal Course Issuer Bid may commence on or about February 16, 1998 and will terminate on January 31, 1999. All purchases of shares are to be made through the facilities of The Alberta Stock Exchange. The purchases and payments for the shares will be made by or on behalf of Ironwood in accordance with the by-laws and rules of The Alberta Stock Exchange. The price to be paid for the shares will be the market price of the shares at the time of acquisition. Ironwood believes that the current market price of its common shares does not adequately reflect the value of its business and future prospects and as a result these shares represent an attractive investment and an appropriate and desirable use of its available funds. A total of 83,500 of Ironwood's shares were purchased by Ironwood in the last 12 months pursuant to a 1997 Normal Course Issuer Bid. The rules of the Alberta Stock Exchange provide that purchases pursuant to a Normal Course Issuer Bid shall not be made from directors, officers and other insiders. Therefore, Ironwood will temporarily discontinue purchases pursuant to the Normal Course Issuer Bid if Ironwood is informed by a director, officer, other insider or their affiliates that they are selling shares through the facilities of The Alberta Stock Exchange. The officer(s) responsible for issuance of this press release and who may be contacted for further information is: Randell J. Hammond, President Ironwood Petroleum Ltd. 1400, 700 - 4th Avenue S.W. Telephone (403) 299-1285 Fax (403) 299-1289

To: Kerm Yerman who wrote (8908)	2/9/1998 6:58:00 PM
From: Arnie	Respond to of 15196

FINANCING / Redeco Energy plans Special Warrant Issue Redeco Energy Inc. today announced that, subject to regulatory approval, it plans to reserve 15,384,615 special warrants to raise up to approximately $10 million. Redeco owns the oil and gas exploration development rights for the entire country of Muldova, consisting of 8.3 million acres. The rights are shared with a joint venture partner Costilla Energy Inc. Agent for the offering is Roche Securities Ltd., of Edmonton. Redeco anticipates issuing up to some 15 million special warrants, priced at $0.65, on a private placement basis. Each special warrant is exercisable into one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire an additional common share for $1.00 until February 9, 2000. The Company has undertaken to qualify the common shares to be issued by filing and receiving receipt for a prospectus within 90 days of the first closing of the special warrants. In the event that receipts for the prospectus have not been received in each of the jurisdictions in which the issue is to be sold, within the 90 day period, purchasers will be entitled to a 10% bonus for both shares and warrants. Redeco is an oil and gas exploration and development Company which, with a joint venture partner, owns the oil and gas exploration rights for the entire country of Muldova. In addition, with a joint venture partner, its owns an exploration permit in neighboring Romania. The Company is listed on the Alberta Stock Exchange under the symbol RE. FOR FURTHER INFORMATION PLEASE CONTACT: Gord Noland Chief Financial Officer (403) 288-0606 Redeco Energy, Inc. Jon W. Kieran or Olav Svela, Investor Relations (416) 868-1079 Hume, Kieran Inc.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:02:00 PM
From: Arnie	Respond to of 15196

CORP. / Gulf Canada Resources announces New CEO DENVER, Feb. 9 /CNW/ - The Board of Directors of Gulf Canada Resources Limited announces that J.P. Bryan has resigned as Chief Executive Officer, President and Director of Gulf Canada. Mr. Bryan noted that his turnaround of Gulf Canada over the last three years has largely been completed and that he desires to spend more time on his private life and with his personal investments. The Board of Directors has appointed Richard H. Auchinleck as the new Chief Executive Officer and President of the Company. Mr. Auchinleck has been with Gulf for 22 years and during the past three years has been chiefly responsible for Gulf Canada's international operations as well as, during the past nine months, the Chief Operating Officer. Mr. Auchinleck is also the CEO of Gulf Indonesia Resources Limited (NYSE: GRL). Earl Joudrie, Chairman of the Board of Gulf Canada, stated, ''We wish J.P. well and the Board extends their gratitude to J.P. for playing an important role in the exciting turnaround at Gulf Canada. Mr. Auchinleck's vast experience in the oil and gas industry in Western Canada and on the international scene makes him the ideal candidate to take on the role of CEO and President as the Company moves into the next stage of its evolution.'' Mr. Bryan also expressed his support for the appointment of Mr. Auchinleck as his successor. ''I know Dick has the talent and skills to take Gulf to the next plateau of accomplishment. Gulf remains in strong leadership hands.'' Gulf Canada is publicly traded on the New York, Toronto and Montreal stock exchanges under the symbol GOU.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:07:00 PM
From: Arnie	Respond to of 15196

FINANCING / First Calgary Petroleum closes Private Placement First Calgary Petroleums Ltd. - TSE (''FCP'') a Calgary based international oil and gas exploration company announces that it has closed a previously announced special warrant financing. On February 6, 1998, First Calgary issued 4,500,000 Special Warrants at a price of $1.05 per Special Warrant. Each Special Warrant is exchangeable for one common share and one-half of one common share purchase warrant (a ''Warrant'') of First Calgary at no additional cost. Each Warrant will entitle the holder to acquire one common share at an exercise price of $1.25 per share and will expire 1 year on February 5, 1999. Yorkton Securities Inc. acted as agent for this offering. The net proceeds of the offering will be used to fund exploration work on the properties optioned to or acquired by or to be optioned to or acquired by the Company and for general Corporate purposes of the business of First Calgary. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The Special Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:10:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Ram Petroleums Ltd discovers Oil Listed: The Toronto Stock Exchange Trading Symbol: RPL.A TORONTO, Feb. 9 /CNW/ - RAM PETROLEUMS LIMITED (''RAM''), announces that AIRU-1 has reached total depth of 6193'. It is the first exploratory well drilled by Ram on its 130,000 hectare (321,000 acre), Rio Putumayo Association Contract block in southern Columbia, where it holds 100% of the working interest. Live oil was indicated by significantly increased background gas, natural fluorescence and strong fast streaming to blooming cut of samples within a gross interval of 105'. Mud logging and sampling was done by Geoservices Limited. A Schlumberger logging unit is on its way to the location and logging should take place tomorrow. Ram has used its own drilling rig, formerly Parker Drilling Rig No.154, to drill the well. After log interpretation, Ram plans to run and cement 7'' casing on Thursday and start production testing on Saturday.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:12:00 PM
From: Arnie	Respond to of 15196

NATIONAL ENERGY BOARD / Alliance Pipeline Project Hearing Sessions CALGARY, Feb. 9 /CNW/ - The National Energy Board's Alliance Pipeline Project regional public hearing will commence in Fort St. John on 11 February 1998. The hearing sessions will take place at the Pioneer Inn, 9830 - 100th Avenue. The hearing times are: 11 and 12 February: 1 p.m. - 4 p.m. 6 p.m. - 9 p.m. 13 February: 8:30 a.m. - 1 p.m. Media are invited to attend and a media table will be available. Interviews may only be done during breaks in the proceedings.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:38:00 PM
From: Arnie	Respond to of 15196

CORP. / Green Maple Energy announces Resignation of Dr. N Goswami CALGARY, Feb. 9 /CNW/ - Green Maple announces the resignation of Dr. Narayan Goswami from the Board of Directors of the company effective February 5, 1998. Management thanks Dr. Goswami for his contributions over the years to the company. Green Maple is an oil and gas exploring and operating company whose Common Shares are listed on the Alberta Stock Exchange under the symbol GMN.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:41:00 PM
From: Arnie	Respond to of 15196

FINANCING / Quadra Resources to Issue Special Warrants CALGARY, Feb. 9 /CNW/ - Quadra Resources Corp (QDRA.U, CDN), announces that it has agreed to issue a minimum of 2,000,000 and a maximum of 4,000,000 special warrants at a price of $0.22 U.S. per special warrant. Each special warrant will entitle the holder to acquire one common share and one-half of a purchase warrant with one fall warrant allowing the holder to purchase one common share of the Corporation at a price of $0.28 U.S. for a period of 12 months. Stephen Avenue Securities Inc. has been retained as agent for this offering. Quadra Resources Corp. is a Calgary based oil and gas exploration company with properties in Colombia and the Philippines.

To: Kerm Yerman who wrote (8908)	2/9/1998 7:44:00 PM
From: Arnie	Read Replies (3) \| Respond to of 15196

FIELD ACTIVITIES / Circle Energy Inc. updates CALGARY, Feb. 9 /CNW/ - Circle Energy Inc. announced today that it has increased its working interest from 37 1/2 percent to 41 1/2 percent in its Brazeau River Shunda well. Completion and testing are on schedule to commence next week. Circle has booked a rig to drill a Nisku test well at Brazeau River after spring break-up and are on rig standby at Morinville, Alberta. Due to their current financial situation San Marino Minerals Inc. will not be participating in the drilling program in New Mexico. Harvard Petroleum Corporation, a well-established oil and gas company based in Roswell, New Mexico has purchased a 20 percent interest in the Aylsham and Bounty Projects. Harvard Petroleum is also Circle's partner in the Ranger Lake, New Mexico project. 3D seismic for Ranger Lake will commence in April. Given the high gas netbacks in New Mexico and our confidence in Harvard Petroleum we will continue to aggressively pursue U.S. prospects. Circle has closed its Public Offering announced in the December 10, 1997 press release. Under the Public Offering Circle raised $1,138,500 (1,897,500 shares). The Flow-Through component of the offering raised $826,800 of the total. Circle Energy Inc. is a petroleum and natural gas exploration company that holds oil and gas leases in the Brazeau, Morinville and Waskatenau areas of Central Alberta and in Guadalupe, Lea and Quay Counties in New Mexico, USA. The Company's shares trade on The Alberta Stock Exchange under the symbol CEN.