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

To: Arnie who wrote (9201)	2/23/1998 8:09:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION TOP 20 LISTED / Carmanah Contracts Rigs for 1998 Indonesian Drilling Program TSE SYMBOL: CKM FEBRUARY 23, 1998 CALGARY, ALBERTA--CARMANAH RESOURCES LTD.("CKM" - TSE) announced today that two of its wholly-owned subsidiaries, GFB Resources (Java) Limited and GFB Resources (Natuna) Limited, have now completed final contracts to secure rigs for proposed 1998 drilling, completion and tie-back programs scheduled for the Bawean and Northeast Natuna PSC's located offshore Indonesia. GFB Natuna has entered into a contract with P.T. Hitek Nusantara Offshore to secure the Sedco-600 semi-submersible rig for a scheduled exploratory well on a large reefal feature on its Northeast Natuna PSC. This rig is expected to arrive at Natuna on or about April 15, 1998 and, depending upon results, the well is expected to take 30 to 45 days to drill and test. In the interim, GFB Natuna has completed the acquisition of a 1,500 kilometre 2-D marine seismic program on the block, utilizing the Geco-Prakla vessel "Echo", to detail various anomalies identified from an earlier 1996 program. The costs associated with the seismic and drilling program are being borne by Esso Exploration and Production Durian Besar Ltd., an affiliate of Exxon Corporation, pursuant to an Option/Farmout Agreement signed in May, 1997. GFB Natuna is the operator of the Northeast Natuna PSC. Results of the well will determine the future course of exploration and drilling on the block. GFB Java has contracted the Pride Pennsylvania jack-up rig from PT Patra Drilling Contractor for scheduled activity in the Camar Field, located in the Java Sea. The rig, which is in the final stages of a refurbishment in Singapore, is presently forecast to be on location on or about March 17, 1998 and drilling is expected to commence shortly thereafter. The primary term of the contract is four months, with options to extend the contract for a further six months. The scheduled program includes completion and tie-back of CN-3; installation of a monopod and tie-back of Camar-6, which was drilled in 1997 and tested significant volumes of light-gravity crude oil; drilling of MPA-1, a new development well, which will also be tied-in to the monopod and processing facilities; and a new vertical development well, Camar-8. All these locations are on the north lobe of the Camar Field and are expected to add significant new production volumes by mid-year, 1998. GFB Java is the operator of and holds an 84 percent working interest in the Bawean PSC and Camar Field. Subsequent to completion of the Bawean/Camar development program, the Pride Pennsylvania may be utilized at Carmanah's Langsa Block, in which an 80 percent interest is held, to complete existing wells and install production facilities to enable startup of up to 10,000 BOPD of new production by October, 1998. A final decision in this regard will be made later this year once tender documents have been assessed and reviewed. Carmanah Resources is a Calgary-based oil company with primary operations offshore Indonesia and onshore Venezuela at the Onado Field.

To: Arnie who wrote (9201)	2/23/1998 8:15:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Colt Energy Inc. announces that it has finalized the construction of its Website. You can now obtain information on the company online at: coltenergy.com The company will be upgrading and updating the site on a regular basis.

To: Arnie who wrote (9201)	2/23/1998 8:17:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Sands Petroleum: Release Made in Accordance with the Requirements of Section 111 of the Securities Act (British Columbia) Stockholm Stock Exchange 0-List TSE SYMBOL: SPB NASDAQ SYMBOL: SANPY FEBRUARY 23, 1998 VANCOUVER, BRITISH COLUMBIA-- (THIS RELEASE IS MADE IN ACCORDANCE WITH THE REQUIREMENTS OF SECTION 111 OF THE SECURITIES ACT (BRITISH COLUMBIA).) Sands Petroleum AB (the "Company") is pleased to announce that as a result of its acquisition of 95.5 percent of the issued and outstanding shares of International Petroleum Corporation ("IPC"), Sands now holds, directly and indirectly, approximately 10.9 percent of the issued and outstanding shares of Arakis Energy Corporation ("Arakis"). Prior to Sands' takeover of IPC, Sands held 7,455,800 common shares of Arakis or approximately 8.5 percent of the issued share capital of Arakis. When combined with the 2,169,000 common shares of Arakis owned by IPC and its subsidiary, IPC Limited, Sands now holds, directly and indirectly, 9,624,000 common shares of Arakis or approximately 10.9 percent of the issued share capital of Arakis. Sands did not act jointly or in concert with any persons and acquired the securities for investment purposes. Subject to availability, price, the general state of the capital markets and the financial condition of Arakis from time to time, Sands may purchase or dispose of common shares of Arakis. Sands Petroleum AB is quoted on the Stockholm Stock Exchange 0-List, The Toronto Stock Exchange (symbol SPB) and on NASDAQ (Symbol SANPY). ON BEHALF OF THE BOARD MAGNUS NORDIN, MANAGING DIRECTOR

To: Arnie who wrote (9201)	2/23/1998 8:20:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Doreal Energy: Portugal Update ASE SYMBOL: DOY OTC Bulletin Board SYMBOL: DEG.CF FEBRUARY 23, 1998 VANCOUVER, BRITISH COLUMBIA--Doreal Energy Corporation announces that the operator of the Alijubarrota no. 1 exploration well has set casing to total depth of 2,686 meters (8,864 feet). Testing is in progress. Doreal has a 10 percent working interest in the exploration well and will earn a 9.35 percent revenue interest in the project. There is no further material information that can be reported at this time. On Behalf of the Board of Directors, James H. Dorman, President and CEO

To: Arnie who wrote (9201)	2/23/1998 8:22:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Del Roca Energy Inc. Announces a Normal Course Issuer Bid ASE SYMBOL: DER FEBRUARY 23, 1998 CALGARY, ALBERTA--DEL ROCA ENERGY INC. (the "Corporation" or " Del Roca"), announces that a notice to make a Normal Course Issuer Bid (the "Bid") has been accepted by The Alberta Stock Exchange. Pursuant to the Bid, Del Roca may purchase, from time to time as it considers advisable, up to 1,200,000 of the issued and outstanding common shares of Del Roca through the facilities of The Alberta Stock Exchange. The price which Del Roca will pay for any shares purchased by it will be the prevailing market price of such shares on The Alberta Stock Exchange, at the time of the purchase. Purchases may commence on February 25, 1998 and will terminate on the earlier of the date on which Del Roca shall have acquired all of the common shares sought pursuant to the Bid, and February 24, 1999, unless earlier terminated. In the view of the board of directors of the Corporation, the common shares of the Corporation are undervalued on the market and purchases of the Corporation's common shares at the current market price would be advantageous to shareholders of the Corporation. An independent engineering firm has valued the Corporation's oil and gas reserves at $6.39 million, effective January 1, 1998 and has assigned proved and 50 percent probable reserves of 550,000 BOEs. Based on its reserve valuation and cash on hand of $1.2 million, Del Roca's net asset value is estimated at $0.32 per share. Del Roca currently has no debt, an unused line of credit and is actively seeking additional high quality acquisitions.

To: Arnie who wrote (9201)	2/23/1998 8:30:00 PM
From: Herb Duncan	Respond to of 15196

EARNINGS / Ramarro Resources Inc. 1998 First Quarter Results ASE SYMBOL: RMA FEBRUARY 23, 1998 CALGARY, ALBERTA--Ramarro Resources Inc. announces its 1998 first quarter results for the period ended December 31, 1997. /T/ FIRST QUARTER 1997 1996 -------------------- Revenue $795,050 $654,058 Cash generated from operations $343,058 $269,237 Cash flow per share $ 0.021 $ 0.024 Net earnings $128,213 $111,511 Per share $ 0.008 $ 0.010 Natural gas sales Total (mmcf) 247.9 197.9 Daily (mmcf) 2.69 2.15 Average natural gas price per mcf $2.22 $2.04 /T/ Increased natural gas volumes and better prices produced enhanced financial results for the first quarter of the 1998 fiscal year. The number of common shares now outstanding is significantly higher due to the shares issued for the acquisition of Ripple Resources and for the conversion of preferred shares and debentures. Subsequent to the end of the quarter a second well was drilled at Orion in NE British Columbia and is presently being tested. This well completed the terms of earning under a farmout agreement.

To: Arnie who wrote (9201)	2/23/1998 8:33:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Meridian Energy: Incentive Stock Options / Oil and Gas Update ASE, VSE SYMBOL: MDG FEBRUARY 23, 1998 CALGARY, ALBERTA-- Incentive Stock Options Meridian Energy Corporation (the "Company") wishes to announce that it has granted an additional 525,000 incentive options to members of its management team. The Company has granted Fred Thompson, President and Chief Executive Officer and Allen Bradley, Vice President, Exploration, an additional 200,000 options each, Norris Morgan, Secretary, an additional 100,000 options and Shannon Matthyssen, Comptroller, an additional 25,000 options all subject to the approval of The Alberta Stock Exchange and The Vancouver Stock Exchange. Each option will entitle the officer to acquire one (1) Class A Common Share in the capital of the Company at an exercise price of $0.50 per Class A Common Share. The options will expire on February 10, 2003. Owing to the policies of the Vancouver Stock Exchange the existing outstanding 290,000 incentive options in favour of the above officers have been cancelled and reissued on the same terms and conditions (including the exercise price of $0.50 per share) as the additional options granted. The weighted average exercise price of the options cancelled was less than the exercise price of the new options. When approved, all of the outstanding options in favour of the directors and management of the Company will represent approximately 9 percent of the issued and outstanding common shares after the Special warrants issued in December 1997 have been converted into common shares. Oil and Gas Update At Paddle River, the Company expects to drill three development wells offsetting its new pool oil discovery announced earlier. All three locations have been licensed and the first well is expected to spud sometime this month. In the case of the Company's other new pool oil discovery in Southern Alberta, the well was placed on continuous production on February 10, 1998 and is presently producing medium gravity oil at a rate of 195 barrels per day. Approvals have been obtained to conduct a two square mile 3-D seismic survey. Permitting is expected to commence by early March with the seismic shot prior to spring breakup. Fred Thompson, President and CEO Fred Thompson, the President and a Director of the Company, has prepared this News Release on behalf of the Company.