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

To: Arnie who wrote (8921)	2/9/1998 8:48:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

FINANCING / Benz Energy Ltd. Special Notes Offering BENZ ANNOUNCES CONVERSION PRICE FOR SPECIAL NOTES OFFERING AND ADDITION OF RP&C INTERNATIONAL AS CO-LEADER OF OFFERING HOUSTON, Feb. 9 /CNW/ -- Benz Energy Ltd. (Vancouver: BZG) is pleased to announce that RP&C International Limited, formerly Rauscher, Pierce & Clark, has agreed to co-lead the previously announced offering of Benz special notes that are exchangeable for 9% convertible debentures. RP&C is focusing on the European market and Dominick and Dominick Securities, Inc. of Toronto, the other co-leader, is focusing on the North American markets. Benz, Dominick & Dominick and RP&C International have set the conversion price of the convertible debenture at Cdn $1.70 per share based on the market for Benz stock through February 6th. In addition, Benz may redeem the debentures at any time after a period of four years from closing. Holders of the debenture who convert prior to the date that is 18 months after the closing date will receive a 5% premium in the number of shares issued upon conversion. The closing date is anticipated to be no later than February 26, 1998. Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas, targeting the onshore Gulf Coast of the U.S. Benz acquires and utilizes an extensive base of 3-D seismic data, maintains significant acreage positions in its projects, and currently has an inventory of 28 exploration prospects. -30-

To: Arnie who wrote (8921)	2/9/1998 9:10:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR SERV 9 LISTED / Tetonka Drilling Inc. Names New CEO HUGH W. STRAIN JOINS TETONKA AS CHAIRMAN & CEO CALGARY, Feb. 9 /CNW/ - Tetonka Drilling Inc. (''Tetonka'') announces that effective today, it has appointed Hugh W. Strain as its Chairman of the Board and Chief Executive Officer. Mr. Strain has also been appointed as a director of Tetonka. Hugh (45) is a graduate of the University of Alberta with a BSc in Mechanical Engineering. As well, he has completed the Executive Development Training program at University of Calgary and the Advanced Management Skills program at the Mahler Institute of Fair Lawn, New Jersey. He has been a senior executive in the North American Contract Drilling Industry for the last 17 years, and involved in the industry for 27 years. Elson McDougald has resigned as Chairman of the Board and Chief Executive Officer but will remain a director of Tetonka.

To: Arnie who wrote (8921)	2/9/1998 9:19:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Total Energy Services Ltd Announces $24 Million Financing CALGARY, Feb. 9 /CNW/ - Total Energy Services Ltd. (''Total'') is pleased to announce that it has signed term sheets pursuant to which it intends to raise an aggregate of $24 million through a combination of debt and equity. Total has entered into an agreement with the Hongkong Bank of Canada pursuant to which HKBC will, subject to certain conditions, provide Total with a $12 million five-year term loan and a $2 million revolving equipment acquisition facility. Total has also agreed to engage a syndicate comprised of Peters & Co. Limited, RBC Dominion Securities Inc. and Canaccord Capital Corporation to act as agents for Total on a best efforts basis in connection with a private placement of $10 million of Special Warrants at a price to be determined. Each Special Warrant will entitle the holder to acquire one common share of Total. The Special Warrants will be sold pursuant to private placement exemptions from prospectus requirements, subject to the receipt of applicable regulatory approvals. The proceeds from these financings will be used to pay the cash portion of the purchase price for the previously announced acquisition by Total of the assets of Elm Oilpatch Rentals Ltd., to repay all existing indebtedness, to provide working capital and to purchase additional capital assets as deemed appropriate by management of Total. The closing of these financings and the acquisition of the assets of Elm Oilpatch Rentals Ltd. is expected to occur in late February. Total is an energy services company involved in the rental of equipment to the oil and gas drilling industry in northwestern Alberta.