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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Lilian Debray who wrote (4776)	3/5/1998 9:21:00 AM
From: Kerm Yerman	Respond to of 24921

Lilian / Tethys Energy The proceeds from the Special Warrants will be used to expand Tethys' 1998 capital budget from $12 million to $24 million. The funds from this financing will allow Tethys to follow up on drilling success by "adding to its land base and expanding its drilling program." Tethys continues to have excellent drilling results in Southeast Saskatchewan and on its exploration plays in Alberta. All of the funds will provide for the increase in their budget. Exactly how funds are to be allocated, I'm not sure. I hope the company amasses a decent position in undeveloped acreage in and around their core properties. When everyone is decreasing their operating budgets, Tethys doubles their program. Lilian, I think the company will be one of the premier growth stories over the next three years. Management is very strong.