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

To: Kerm Yerman who wrote (9363)	3/2/1998 8:04:00 PM
From: Arnie	Respond to of 15196

GENERAL INTEREST / Toronto 35 Index Notice TORONTO, March 2 /CNW/ - Effective before the open on Friday, March 20, 1998 the following changes will be made to the Toronto 35 Index. The new Index has been created effecting the following changes to the current Index: Added: 100 shares of Canadian National Railway Co. (CNR) Added: 100 shares of Suncor Energy Inc. (SU) Deleted: 1500 shares of Rogers Communications Inc. Cl B (RCI.B) Deleted: 1000 shares of TVX Gold Incorporated (TVX) These changes are being made in accordance with Toronto 35 Index Maintenance Policy No. 18 which states ''In the event a stock in the Toronto 35 Index fails to remain in the TSE 100 Index due to the TSE 100 Index annual revision process, the stock will be removed from the Toronto 35 Index at the opening on expiry of the March options and futures contracts (i.e. generally the third Friday).'' The complete list of the shares represented in the Toronto 35 Index is attached to this notice. NEW COMPOSITION OF THE TORONTO 35 INDEX Effective March 20, 1998 Company Name Symbol Shares ------------ ------ ------ 1. Abitibi-Consolidated Inc. A 2,000 2. Barrick Gold Corporation ABX 2,000 3. Alcan Aluminium Ltd. AL 1,500 4. Bombardier Inc. Cl.B BBD.B 2,000 5. BCE Inc. BCE 4,000 6. Bank of Montreal BMO 1,400 7. Bank of Nova Scotia (The) BNS 2,000 8. Canadian Imperial Bank of Commerce CM 2,500 9. Canadian National Railway Co. CNR 100 10. Canadian Pacific Ltd. CP 3,000 11. Canadian Tire Corp. Ltd. Cl.A CTR.A 2,000 12. Canadian Occidental Petroleum Ltd. CXY 1,400 13. Dofasco Inc. DFS 1,000 14. Imasco Limited IMS 1,400 15. Laidlaw Inc. LDM 2,200 16. MacMillan Bloedel Ltd. MB 1,800 17. Moore Corporation Ltd. MCL 1,000 18. Magna International Inc. Cl.A MG.A 500 19. Inco Limited N 1,000 20. National Bank of Canada NA 1,000 21. Noranda Inc. NOR 1,000 22. Northern Telecom Ltd. NTL 2,000 23. Nova Corporation NVA 3,000 24. Petro-Canada PCA 2,200 25. Placer Dome Inc. PDG 2,100 26. Renaissance Energy Ltd. RES 1,500 27. Royal Bank of Canada RY 1,500 28. Suncor Energy Inc. SU 100 29. TransAlta Corporation TA 2,000 30. Toronto-Dominion Bank (The) TD 1,800 31. Teck Corp. Cl.B TEK.B 1,000 32. Talisman Energy Inc. TLM 1,800 33. Thomson Corporation (The) TOC 2,000 34. TransCanada PipeLines Ltd. TRP 1,000 35. Seagram Company Ltd. (The) VO 1,500

To: Kerm Yerman who wrote (9363)	3/2/1998 8:07:00 PM
From: Arnie	Respond to of 15196

CORP. / Scimitar Hydrocarbons to engage Investors Relations Services CALGARY, March 2 /CNW/ - Scimitar Hydrocarbons Corporation (ASE: SIY) announced that, subject to the approval of The Alberta Stock Exchange, it has engaged corporate communications firm Hedlin / Lauder Associates Inc. to provide Investor Relations services to the Corporation for the next three months. The contract may be extended thereafter at the option of the Corporation. The Corporation will pay Hedlin / Lauder approximately C$3,000 per month. Headquartered in Calgary, Canada, Scimitar's current projects include a heavy oil development project in Egypt, gas and liquids exploration and exploitation in the United Arab Emirate of Ajman, gas exploration in Mozambique, petroleum product marketing in eastern Africa and exploration in western Canada.

To: Kerm Yerman who wrote (9363)	3/2/1998 8:09:00 PM
From: Arnie	Respond to of 15196

ACQUISITION / T&H Resources purchase Gas Assets in Ohio Listed TSE - Symbol THE Shares Issued 30,094,210 TORONTO, March 2 /CNW/ - T&H Resources Ltd. (''T&H'') announces that it has signed a letter of agreement to acquire certain petroleum and natural gas assets (the ''Assets'') located in the State of Ohio. The vendor has agreed to obtain a technical report (the ''Technical Report'') from an independent party which will provide a valuation of the Assets and will form the method by which the cash component of the consideration is determined, estimated to be approximately Cdn. $5 million. The consideration will also include the issue of 500,000 share purchase warrants of T&H to the vendor which will be exercisable at $0.25 per share until March 31, 2001. The Assets contain proven developed reserves (discounted at 20%) of greater than Cdn. $2 million, which will be confirmed in the Technical Report. The Technical Report and the definitive agreement of purchase and sale are in the process of being prepared. The Toronto Stock Exchange (''TSE'') has notified T&H that it must provide evidence satisfactory to the TSE by May 14, 1998 that it has entered into legally binding agreements so that, if completed, T&H will meet all the original listing requirements of the TSE.

To: Kerm Yerman who wrote (9363)	3/2/1998 8:12:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / HEGCO Canada to Begin Field Operations EDMOND, OK, March 2 /CNW/ - HEGCO Canada, Inc., has announced that beginning today, March 2nd, the Company will begin field operations on the El Grande well by running cement evaluation logs and bringing in the appropriate high pressure testing equipment. After all equipment is in place, the Company will immediately begin testing operations. The Company has been conducting evaluations, through imaging and other recent logs obtained, to further define the most appropriate intervals to begin testing. From this information, we are developing an optimized completion and development plan for the El Grande field. For additional information, please refer to our release dated February 5, 1998. In order to provide for increased efficiency in the distribution of due diligence materials, the Company is now establishing a web site which will be open to the financial community as well as to the general public. It will be fully operational within fourteen days. A future announcement will disclose the site address. HEGCO Canada, Inc., is an Alberta, Canada corporation that trades on the Alberta Stock Exchange under the symbol ''HEG''. The Company is an oil and gas production, servicing and drilling company with operations in Arkansas and Oklahoma. On Behalf of the Board: Douglas C. Hewitt, Chairman, Director

To: Kerm Yerman who wrote (9363)	3/2/1998 8:13:00 PM
From: Arnie	Respond to of 15196

ACQUISITION / Westfort Energy increases Acreage Position CALGARY, March 2 /CNW/ - Whitney Pansano, President of Westfort Energy, Ltd. (symbol WT-TSE) announced today that the company has increased its acreage position in Pelahatchie field by approximately 20% in the last 60 days through an aggressive leasing program prior to the spudding of its first Norphlet well. Through farmouts and direct ownership of lease rights, the company now controls the majority ownership in over 3200 net acres in the field. The company's first Norphlet well will target the high potential Norphlet oil and gas formation situated at approximately 17,100 ft subsea depth. Geological and engineering studies indicate that this zone contains 40 million barrels of recoverable high gravity oil and 40+ billion cubic feet of methane gas. On behalf of the Board, Whitney J. Pansano President

To: Kerm Yerman who wrote (9363)	3/2/1998 8:20:00 PM
From: Arnie	Respond to of 15196

SERVICE SECTOR / Para-Tech Energy Corp. announcement CALGARY, March 2 /CNW/ - Brian Herman, Chairman and C.E.O. of Para-Tech Energy Corporation is pleased to announce the company has commenced a Research and Development project to enhance the capacity of the current highly successful ''Enercat'' tool which eliminates paraffin and scaling problems in producing wells. The R & D will enable the company to treat wells in excess of 1,000 BBLS/day production and is targeted for the large producing wells in the Gulf of Mexico, the North Sea, the former Soviet Union and the Middle East, that are either shut-in or have extremely high operating costs due to paraffin and/or scaling problems.

To: Kerm Yerman who wrote (9363)	3/2/1998 8:27:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Calvelley Petroleum announces Farmout Arrangement Calvalley Petroleum Inc. today announced that it has concluded a Farmout transaction with a major industry company which has committed to drill four (4) exploration wells targeting Mississippian zone production, at locations on specific portions of Calvalley Petroleum Inc.'s lands in S.E. Saskatchewan. This agreement forms part of Clavalley's ongoing strategy of maximizing value on undeveloped land assets. The conditions of the Agreement between Calvalley and the Farmee are in accordance with standard industry terms. Commencement of the first well is scheduled prior to March 15, 1998. On a predetermined timetable, after the initial phase, continuous drilling option privileges have been allowed for additional wells on Calvalley's lands. Calvalley Petroleum Inc. is a Calgary-based oil and gas exploration and development Company whose shares are traded on the Montreal Exchange. Ticker symbol: CVI.A (ME) Newspaper Abbreviation: Calvalley Source: Edmund Shimoon, P. Eng. Chairman and Chief Executive Officer Calvalley Petroleum Inc. Telephone: (403) 297-0490 Fax: (403) 297-0499

To: Kerm Yerman who wrote (9363)	3/2/1998 8:31:00 PM
From: Arnie	Read Replies (4) \| Respond to of 15196

EARNINGS / Vision 2000 Explorations reports 1st 9 months Results Vision 2000 Exploration Ltd. (formerly Conklin Energy Company Inc.) announced that the Corporation has completed a very successful first nine months of 1997. Vision 2000 began trading on the Alberta Stock Exchange October 31, 1997 with the issuance of 3,397,300 Units for gross proceeds of $1,698,650. The Company reported revenue net of royalties of $145,654 in the nine month period compared to $109,894 in 1996, an increase of 33%. Cash flow from operations was $50,167 ($0.014 per share) compared with $166,679 ($0.073 per share) for 1996. Net income for the nine months was $6,417 compared with $155,040 for 1996. The Company's results for 1996 were significantly higher due to a net gain on the disposition of some assets totaling $141,879. Vision 2000's production for the nine months ended December 31, 1997 averaged 28 boepd an increase of 53% over the same period of 1996. The Company's northern drilling program targeting natural gas commenced on February 23 with the spudding of a deep test in the Pine Creek area in which the Company has a 7.5% interest before payout and a 25% interest after payout. A second deep well at Pine Creek in which the Company has a 7% interest is due to spud in early March. The Company's drilling program in southern Alberta is due to commence after breakup with a 100% well being drilled in the Knappen field also targeting natural gas. Vision 2000 Exploration Ltd. is a well financed junior oil & gas company with significant undeveloped land holdings and a high impact natural gas drilling program underway. The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. Any further inquiries should be directed to: David G. Conklin, President Vision 2000 Exploration Ltd. Suite 1220, 144 - 4th Avenue S.W. Calgary, Alberta T2P 3N4 Tel: (403) 294-1177 Fax: (403) 269-3048 HIGHLIGHTS Nine Months Ended December 31 1997 1996 Revenue, Net of Royalties $ 145,654 $ 109,894 Cash Flow from Operations $ 50,167 $ 166,679 per Share $ 0.014 $ 0.073 Net Income $ 6,417 $ 155,040 Capital Expenditures $ 444,498 $ 464,110 Common Shares Outstanding, 3,562,962 2,291,364 weighted average Average Daily Production Oil (bbls/d) 9.7 1.7 Natural Gas (mcf/d) 182.0 164.5 BOE/day 27.9 18.2 Average Product Prices Price/bbl $ 25.36 $18.34 Price/mcf $2.05 $ 2.36

To: Kerm Yerman who wrote (9363)	3/2/1998 9:08:00 PM
From: Arnie	Respond to of 15196

FINANCING / GHP Exploration closes Special Warrant Placement GHP Exploration Corporation (CDN:GHPX.U) is pleased to announce that it has closed a brokered private placement, through a syndicate led by Yorkton Securities Inc., of 3.888 million Special Warrants at a price of US $2.00 per Special Warrant. Each Special Warrant is exchangeable without further payment for one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire an additional common share of the Company for a period of one year at a price of US $2.50 per share. The Company proposes to qualify the exercise of the Special Warrants with a prospectus to be filed in British Columbia and Ontario. If receipts for the final prospectus are not issued within 120 days, each Special Warrant will become exchangeable for 1.1 common shares and 0.55 common share purchase warrants. The exercise of the underlying common share purchase warrants (and issuance of any additional shares and warrants) is subject to shareholder approval to be sought at the Company's annual meeting on May 14, 1998. The approximately $7.3 million of net proceeds will be used to fund exploration activities on the Company's recently optioned Egyptian Concession (News-February 9, 1998), development of existing fields and for general corporate purposes. GHP engages in the exploration for and development and production of crude oil and natural gas in the United States and Internationally with operations and interests in acreage in the Gulf of Mexico, West Texas, Egypt and in Tunisia. The Company currently has 17.7 million common shares outstanding. Upon conversion of the Special Warrants into common shares and common share purchase warrants the Company will have 21.6 million shares outstanding. Contacts: George H. Plewes - (604) 669-2525 Barry D. Lasker - (713) 626-9373 Internet: ghpexploration.com

To: Kerm Yerman who wrote (9363)	3/2/1998 9:10:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

CORP. / Marengo Exploration Class A Shares now trade on ASE MARENGO EXPLORATION LTD. announces that its Class A Shares have commenced trading on the Alberta Stock Exchange under the symbol "MRO.A". Marengo closed its initial public offering at the end of December, 1997 for gross proceeds of $4,647,000. Marengo has 3,894,100 Class A Shares and 408,936 Class B Shares outstanding. Marengo is managed by Bill Petrie, President and Larry Bozohora, Vice-President. Joining Messrs. Petrie and Bozohora on the board of directors are Rick Braund and Harley Winger. Since December 1, 1997 Marengo has participated in the drilling of five successful oil wells, one successful gas well and one suspended re-entry, all in the Smiley area of west-central Saskatchewan. Marengo's current net oil production capacity is over 200 BOPD. However, due to current weak commodity prices, production rates have been reduced resulting in current net production to the company of 126 BOPD. Construction of a battery is underway on the Smiley property, which will significantly reduce operating costs, and together with an anticipated narrowing of price differentials for the Company's heavier crude this summer, is expected to considerably improve Marengo's netbacks. The Company has also entered into an agreement with AltaGas Services Ltd. to process and transport its shut-in gas reserves from the Company's Flaxcombe property, also located in west-central Saskatchewan. Production is expected to begin in the second quarter of 1998 at a net rate to Marengo of 1 million cubic feet per day (100 BOEPD). An additional well is planned for this property in the third quarter. Marengo's immediate activity will include three new exploratory wells prior to breakup in the Smiley and Hoosier areas. These wells will earn lands which, if the earning wells are successful, will be put into Marengo's development inventory until heavy oil prices improve. The Company is expanding its areas of focus to include a Devonian light oil prospect at Chigwell in central Alberta where review of a 3-D seismic survey is currently underway; as well as evaluation of a light oil pool in southeast Saskatchewan for possible acquisition and subsequent horizontal drilling. For further information contact Mr. Bill Petrie, President of Marengo Exploration Ltd. at (403) 237-66l2.