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

To: Kerm Yerman who wrote (9457)	3/6/1998 1:49:00 PM
From: Arnie	Respond to of 15196

FINANCING / Vermilion Resources announces "Bought Deal Financing" Vermilion Resources Ltd. "Vermilion" announces today that it has entered into a bought deal financing agreement with a syndicate of underwriters led by Griffiths McBurney & Partners and FirstEnergy Capital Corp. and includes First Marathon Securities Limited and Nesbitt Burns Inc. Vermilion intends to issue from treasury 5,063,291 common shares at $7.90 per common share for gross proceeds of $40,000,000. The financing is subject to final regulatory approval and the closing is expected to take place on or before March 26, 1998. Proceeds from the issue will be used to facilitate the expansion of Vermilion's ongoing exploration, development, and acquisition plans. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Vermilion Resources Ltd. is a publicly traded Canadian resource company with domestic and international operations. The company's primary objective is to maximize shareholder value by managing risk as it builds resource assets through the acquisition, exploitation and exploration of natural gas and crude oil. For further information, please contact: Mr. Jeff Boyce Mr. Stephen Bjornson President & C.E.O. Vice President Finance & Corporate Secretary Vermilion Resources Ltd. Vermilion Resources Ltd. (403) 269-4884 (403) 269-4884

To: Kerm Yerman who wrote (9457)	3/6/1998 1:56:00 PM
From: Arnie	Respond to of 15196

EARNINGS / Plains Energy Services reports 1997 Results CALGARY, March 6 /CNW/ - Plains Energy Services Ltd. (''Plains'') announces summary financial information for the year ended October 31, 1997. Plains first year of operations has been directed largely to acquiring substantial presence in all of its key business areas, with a view to integrating the services and applying technology to provide innovative, safe, effective and economical products, services and equipment to our customers. Revenues for 1997 were $50.5 Million, an increase, of $33.2 Million or 191% over 1996. Net income in the 1997 fiscal year was $6.5 Million ($0.50 per share basic), cashflow for the Company was $10.9 Million ($0.83 per share basic), while EBITDA was $16.2 Million ($1.23 per share basic) for the same period. These results, although extremely satisfactory, only reflect contribution from the majority of the business units for less than 12 months as a result of the aggressive acquisition strategy of the Company during the year. In addition to its recent $50.4 Million offering, Plains exits 1997 with a very strong balance sheet, with limited debt, strong cashflows, and a focused capital expenditure program. This position will provide the Company with the ability to act upon and take advantage of industry opportunities as they arise in 1998 and beyond. Plains Energy Services Ltd. is an integrated oilfield service company providing North America with Services in all aspects of the Completions and production areas of the oilfield services business. Plains operating subsidiaries include Entest Corp., Fleet Cementers, Inc., Fleet Coil Technologies Corp. (FCT), Plains Perforating Ltd., Polar Completions Engineering Inc., Round-Up Well Servicing Corp., Challenger Wireline Services Ltd, and Silverline Pressure Control Ltd. << Financial Highlights ($000s except per share data) Year ended October 31, 1997 1996 ------------------------------------------------------------------------ Revenue $50,501 $17,345 Income $ 6,545 $ 343 Income per share basic 0.50 0.06 fully diluted 0.46 0.06 Cashflow $10,926 $ 1,114 Cashflow per share basic 0.83 0.15 EBITDA $16,158 $ 1,348 EBITDA per share basic 1.23 0.19 ------------------------------------------------------------------------ >> Plains Energy Services Ltd. trades on The Toronto Stock Exchange under the symbol ''PLA''.

To: Kerm Yerman who wrote (9457)	3/6/1998 1:59:00 PM
From: Arnie	Respond to of 15196

TSE NEW LISTING / Real Resources commences Trading on the TSE CALGARY, March 6 /CNW/ - Real Resources Inc. (''Real'') (ASE & TSE symbol: RER) is pleased to announce that its common shares will be listed and posted for trading on The Toronto Stock Exchange at the opening of trading today. Lowell E. Jackson, President & CEO of Real, said ''The last few months have resulted in substantial growth for Real. After the successful take-over of Tri-Ex Oil & Gas Ltd., Real is poised for a very good year in 1998. We look forward to fully capitalizing on the benefits and potential associated with trading on the TSE, and anticipate further growth and strong earnings during the coming year.'' Real will be delisting its shares from The Alberta Stock Exchange where it has traded since 1989.

To: Kerm Yerman who wrote (9457)	3/6/1998 2:02:00 PM
From: Arnie	Respond to of 15196

INTERIM CEASE TRADE ORDER / Winterburn Oil and Gas Ltd ALBERTA SECURITIES COMMISSION EDMONTON, March 6 /CNW/ - Interim Cease Trade Orders Dated March 5, 1998 issued for 15 days against: Alava Ventures Inc. Winterburn Oil and Gas Ltd. For failure to file certain financial information. Hearings have been set for March 19, 1998 at 9:30 a.m. at the Commission Office in Edmonton.

To: Kerm Yerman who wrote (9457)	3/6/1998 2:06:00 PM
From: Arnie	Respond to of 15196

CORP. / Intercap Resource Management US appoints CEO VANCOUVER, March 6 /CNW/ - Intercap Resource Management Corporation Vancouver Stock Exchange Trading Symbol: ''IRC'' The Company is pleased to announce that Tom C. Holder has been appointed as Chief Financial Officer of the Company's U.S. subsidiary, Intercap Resource Management US, Inc. Mr. Holder comes to Intercap with over 19 years experience in the petroleum industry. Prior to joining Intercap, Mr. Holder was Financial Manager at Shell Services Company. Previously, he was responsible for capital portfolio and planning activities in the North America Exploration and Production Division of Phillips Petroleum Company. In conjunction with his appointment, Mr. Holder has been granted incentive stock options to purchase up to 15,000 Common shares in the capital stock of the Company at a price of $2.94 per share, which is the average closing price of the Company's shares for the previous 10 days of trading. The options are exercisable for a period of three years ending on March 5, 2001 and are subject to regulatory approval. On behalf of the Board INTERCAP RESOURCE MANAGEMENT CORPORATION ------------------- G.W. Norman Wareham Secretary/Treasurer

To: Kerm Yerman who wrote (9457)	3/6/1998 2:07:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / HEGCO Canada updates El Grande Well EDMOND, Oklahoma, March 6 /CNW/ - Douglas C. Hewitt, President of HEGCO Canada, Inc., (the ''Corporation'') is pleased to announce today that on March 2, 1998 the Corporation ran a Schlumberger Ultra Sonic Imaging Cement Evaluation log to evaluate cement bonding of the five thousand foot production liner that was set last month to 12,169 feet, as reported in the Corporation's earlier press release dated February 5, 1998. This log has identified natural gas present in the cement bond throughout several intervals where highly fractured and secondary porosities were found in the earlier FMI logs, as reported February 2, 1998. The Corporation acquired the El Grande well, which is located within the Edgmon Prospect, in April, 1997. The El Grande well was drilled in 1983, by ARCO, who capped the well after drilling, without production testing the well. Since 1983, the well sat idle until January 21, 1998 when the Corporation re-entered the well. The Corporation acquired and re-entered the well after researching analogous fields within the Arkoma basin which were discovered and placed into production in the late 1980's and 1990's. Since January 21, 1998, the Corporation has utilized Schlumberger to run logs, to assist in the evaluation of the well, which were not available in 1983 when the well was drilled. After running open hole imaging evaluation logs, the Corporation confirmed that large intervals of secondary porosity existed which were never seen in the original logs. These porosities are associated with gas shows recorded during the original drilling of the well. After the confirmation of the porosities and correlation to the gas shows the Corporation set production casing within the well. After evaluation and consultation with Bill Alexander, of Professional Petroleum Engineering, of Tulsa, Oklahoma, and the Oklahoma City office of Schlumberger, the Corporation has devised a testing program. The testing will begin by perforating a net 433 feet of a 690 foot gross interval, in a highly vugular and fractured section of the lower Arbuckle. This interval, as in all other intervals identified, has no indication of water. After evaluation of this interval, the Company will make a determination whether or not to continue testing other identified intervals or move directly into production. The Corporation has several intervals which it is interested in testing. Perforating and testing of the first interval is expected to occur mid next week. HEGCO Canada Inc., is an Alberta Canada corporation trading on the Alberta Stock Exchange under the symbol, ''HEG''. The Corporation is an oil and gas production, servicing and drilling company operating in Oklahoma and Arkansas. On behalf of the Board: Douglas C. Hewitt, CEO & President

To: Kerm Yerman who wrote (9457)	3/6/1998 2:10:00 PM
From: Arnie	Respond to of 15196

CORP. / Southward Energy announces Management Appointments CALGARY, March 6 /CNW/ - Southward Energy Ltd. (SWN - TSE) Mark Janisch, President of Southward Energy is pleased to announce the appointment of the following professionals to the management of Southward Energy: Mr. Thomas Zavesiczky has been appointed to the position of Vice President - Exploration. Mr. Zavesiczky is a geologist with 17 years of experience in exploration and development geology within Western Canada, most recently as Manager - Light Oil and Gas Exploration for Elan Energy. Previously, Mr. Zavesiczky has hold positions as an exploration geologist at Atcor Energy and Gulf Canada Resources. Mr. Zavesiczky graduated with a B. Sc. in Geology from the University of Waterloo. Mr. Dave Robinson P. Land has been appointed Vice President - Land. Mr. Robinson brings in excess of 20 years experience in the oil and gas industry. Mr. Robinson graduated with a B. Sc. in Business Administration from the University of Denver. He has worked at Amoco Canada, Geo Crude Energy Ltd. and at Deminex (Canada) Ltd. as Vice President - Land. Most recently Mr. Robinson was President of Sharptail Resources Ltd., a private oil and gas company. Mr. Mark Cutten C.A. has been appointed Controller of Southward Energy and brings in excess of 20 years experience in oil and gas accounting most recently as Controller for Pointer Exploration Corp. Previously, Mr. Cutten was with Quintana Exploration Canada Ltd. and Barnwell of Canada Ltd. Prior to being employed in the oil and gas industry, Mr. Cutten was with the accounting firm of Peat, Marwick, Mitchell & Co.(now KPMG Peat Marwick & Thorne) Southward's new management team brings strong experience to build Southward Energy into a successful mid sized oil and gas explorer. By focusing on Southward's new core area of central Alberta this management team's experience in exploration and acquisitions will quickly establish a strong production and land position in this area. Southward Energy Ltd. is a junior oil and gas exploration company producing 7 million cubic feet of gas per day and 250 barrels of oil per day.

To: Kerm Yerman who wrote (9457)	3/6/1998 8:56:00 PM
From: Arnie	Respond to of 15196

FINANCING / Hampton Court Resources completes Private Placement HAMPTON COURT RESOURCES INC.("HCR") is pleased to announce the closing of a private placement of 1,000,000 common shares at $1.75 per share raising gross proceeds of $1,750,000 (Cdn.). Each share has a $2.75 warrant attached which is exercisable prior to September 22, 1998. The entire fund was placed privately by Hampton's management and associates. Commissions paid out on the placement totaled $47,000.00 (Cdn.) resulting in net proceeds to Hampton Court of $1,703,000.00 (Cdn.). Placement proceeds are allocated to continued exploration of the company's Arkoma natural gas project and Primera Fortuna gold project. Hampton Court holds a 25% interest in the Arkoma Project and 100% interest in the Primera Fortuna Project. Approved on behalf of the Board: Donna M. Rud, Vice President FOR FURTHER INFORMATION PLEASE CONTACT INVESTOR RELATIONS Derek T. Lamb Deborah D. Pratt Ph: (403) 777-9229 Ph: (403) 254-9675 Fax: (403) 777-9228 Fax: (403) 256-9473 e-mail: lambd@cadvision.com e-mail: pratt@shaw.wave.ca web: www.hamptoncourt.com e-mail: hamptoncourt@shaw.wave.ca

To: Kerm Yerman who wrote (9457)	3/6/1998 9:00:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Ranger Oil reduces 1998 Capital Expenditure Program CALGARY, March 6 /CNW/ - Ranger Oil announced today that its 1998 Capital Expenditure Program has been reduced by US$50 million in light of lower oil prices. The revised program of US$235 million includes continuation of the major development activity in the North Sea and Angola scheduled for 1998. High-impact exploration drilling in the North Sea and the Northwest Territories in Canada is also unaffected. The expenditure reduction is in North America with lower exploration spending in Canada and the U.S. Gulf of Mexico and minimal expenditure for heavy oil. The revised program reflects the sharp drop in world oil prices since November 1997 and the consequent impact upon the Company's forecast revenues for 1998. In 1999 revenues and cash flow will be significantly higher as a result of the new production coming on stream in the North Sea and Angola. In addition to the capital reduction, the Board of Directors of the Company have decided not to declare an annual dividend for the year 1997. ISSUED BY: F. J. Dyment President and Chief Executive Officer

To: Kerm Yerman who wrote (9457)	3/6/1998 9:03:00 PM
From: Arnie	Respond to of 15196

ACQUISITION UPDATE / Union Pacific Resources announces 100% Ownership of Norcen Energy FORT WORTH, Texas, March 6 /CNW/ -- Union Pacific Resources Group Inc. (NYSE: UPR) today announced that on March 5, 1998, its indirect wholly- owned subsidiary, Union Pacific Resources, Inc. (UPRI), completed the compulsory acquisition procedures pursuant to section 206 of the Canada Business Corporations Act in order to acquire the remaining 6,107,965 issued and outstanding common shares of Norcen Energy Resources Ltd. (Toronto Stock Exchange: NCN) (Norcen), representing approximately 3.2 percent which had not previously been acquired pursuant to UPRI's Offer to Purchase and Take-Over Bid Circular dated January 30, 1998, which expired on March 2, 1998 (the 'Offer'). After taking up the common shares of Norcen pursuant to the Offer on March 2, 1998, UPRI owned approximately 96.8 percent of the issued and outstanding shares of Norcen. UPRI now beneficially owns 100 percent of the issued and outstanding common shares of Norcen on a fully- diluted basis. Union Pacific Resources is one of the nation's largest independent oil and gas exploration and production companies. Based in Fort Worth, Texas, UPR has been the No.1 domestic driller for the past 6 years. This press release, other than historical financial information, contains forward looking statements that involve risks and uncertainties including planned construction and drilling activity, expected production efforts and volumes and budgeted capital expenditures and other risks and uncertainties detailed in the Company's SEC reports, including the report on Form 10-Q for the quarter ended September 30, 1997. Actual results may vary materially.

To: Kerm Yerman who wrote (9457)	3/6/1998 9:07:00 PM
From: Arnie	Respond to of 15196

NEB / Interprovincial Pipelines (NW) Ltd obtains Toll Approval CALGARY, March 6 /CNW/ - The National Energy Board (''Board'') has approved the tolls that Interprovincial Pipe Line (NW) Ltd. (''IPL(NW)'') may charge on its pipeline system for the transportation of oil from Norman Wells, Northwest Territories to Zama, Alberta. IPL(NW) has been on interim tolls since 1 January 1996. The interim toll charged for transportation from Norman Wells to Zama for 1996 was $34.71 per cubic metre. The Board has now approved reduced final tolls for 1996: $32.35 per cubic metre from 1 January to 30 June and $27.19 per cubic metre, from 1 July to 31 December. IPL(NW) has calculated that the total refund based upon actual billing to shippers will be $4.0 million for 1996. The tolls approved for 1997 and 1998 are $29.81 and $27.94 per cubic metre, respectively. The new tolls result from a complaint filed with the Board in 1995 from the Government of the Northwest Territories (''GNWT'') regarding the tolls and tariff on the Norman Wells Pipeline. The complaint identified specifc areas where the GNWT believed the current method of calculating the tolls and cariff for IPL(NW) is incompatible with the manner in which the tolls and tariffs of other pipelines regulated by the Board are determined. The Board sought comments from interested parties on the complaint. However, the parties to the complaint agreed to negotiations with all interested or affected organizations. As a result of those negotiations, IPL(NW) filed an application for final tolls based upon the negotiated settlement with interested parties. IPL(NW), a wholly-owned subsidiary of Interprovincial Pipe Line Inc., owns and operates the Norman Wells oil pipeline. The pipeline extends 869 kilometres (539 miles) from Imperial Oil's production facilities at Norman Wells to an interconnection with the provincially-regulated Rainbow pipeline at Zama. Imperial Oil is the only full-haul shipper and provides over 99 per cent of pipeline revenue. Several other shippers enter the pipeline at Kilometre Post 839.2 (milepost 510.3). This News Release is also available on the Board's Internet Site at www.neb.gc.ca

To: Kerm Yerman who wrote (9457)	3/6/1998 9:11:00 PM
From: Arnie	Respond to of 15196

AGREEMENT / Beau Canada Exploration Ltd and St. Genevieve Associates (Genoil) MONTREAL, March 6 /CNW/ - St. GeneviŠve Resources Ltd. (''SGV'') announces that it has concluded an agreement with Beau Canada Exploration Ltd. (''Beau'') pursuant to which the operations of Genoil Inc. (''Genoil'') have been refinanced and the indebtedness of SGV to Genoil has been settled. Beau has subscribed for a total of 16,845,501 common shares of Genoil for an aggregate subscription price of $3,369,100.20. In addition, Beau has provided to Genoil a loan in the amount of approximately $3.5 million in order to cover Genoil's financial obligations in connection with the Ana Maria no. 2 well located in Cuba, expected to be drilled in the last half of 1998. SGV has agreed to reimburse the $5.6 million owed to Genoil by no later than April 1, 1999, with interest to accrue at prime plus 1 %. As security for the repayment of this indebtedness and certain other indebtedness owing by Genoil to Beau, SGV has pledged to Genoil the 5.28 million shares of Genoil which it holds, as well as an account receivable of equal value which is owed to SGV by KWG Resources Inc. In addition, SGV has granted to Beau the option to purchase the shares of Genoil held by it at a price of $1.00 per share for a period of 18 months. However, SGV retains the right to sell these shares on the market at a minimum price of $1.00 per share. In all cases, the proceeds of such sale will be applied toward the repayment of SGV's indebtedness to Genoil. The voting rights attaching to these shares have been transferred to Beau for as long as the option remains in effect. As a key feature to this transaction, SGV and Beau have reached an agreement with Genoil, whereby SGV could earn the following farm-in rights : I. the right to earn up to a 17.5% interest in Blocks 19 and 20, in consideration of the payment of up to 17.5% of the historical costs on such Blocks; and II. the right to earn up to a 5% interest in Blocks V, VI and VII, in consideration of the payment of up to 10% of the cost of a new well to be drilled on such Blocks. Following the conclusion of these transactions, the management and direction of Genoil was transferred to Beau, whose experience in the oil and gas sector is expected to prove to be a valuable asset to Genoil. The Chairman of the Board of St. GeneviŠve, Mr. Pierre R. Gauthier, stated : ''The conclusion of this transaction represents an important step for SGV in the implementation of its restructuring plan.'' SGV is a mining exploration company currently trading (without quotation) on the Canadian Dealing Network under the symbol SGVE.

To: Kerm Yerman who wrote (9457)	3/6/1998 9:14:00 PM
From: Arnie	Respond to of 15196

ACQUISITION / Cirque Energy Ltd acquires UK Acreage CALGARY,, March 6 /CNW/ - CIRQUE ENERGY LTD. announces that The Department of Trade and Industry has awarded licences in the 8th Landward Oil & Gas Licencing Round. Cirque has acquired 80,000 acres (47,000 net) in and surrounding its existing acreage in the East Midlands area of the United Kingdom. These new lands increase Cirque's land holdings in the area to 230,000 net (119,000 gross) acres and add three new prospects to existing inventory. Additional 2D seismic will be shot on the new licences where several exploratory prospects have been shot. Cirque is the operator of 100% of the Company's United Kingdom acreage. Cirque and its partners continue to production test the recently announced oil discovery at Fiskerton. The discovery well (Cirque 37.0% BPO, 48.2% APO) is flowing oil at stabilized rates and plans are underway to pipeline connect the well into the Welton battery facilities 2 miles to the north. A 16 sq. km 3D seismic program has just been completed over the discovery and it is anticipated that 2 wells of a 5 well development program will commence in early summer. Contingent on the results, a continuing development drill program would reach into 1999. The most recent Turin, Alberta well encountered two gas zones and one oil zone. Since shooting 3D seismic over most of Cirque's 8800 gross (3760 net) acres, the Company has drilled 12 wells resulting in 8 oil wells, 2 oil & gas wells, 1 saltwater injector and 1 dry hole. Cirque also announces that it has called a meeting of its shareholders for April 7, 1998 to approve, subject to compliance with regulatory requirements, an amalgamation of its common shares on a 4 for 1 basis and a change of its corporate name to Cirque Energy Corp. The Corporation believes that the reorganization of the share structure is necessary to ensure the continued shareholder support of the Company as well as comply with recent changes made by NASDAQ to the listing standards. The shares of the Company are expected to be listed on the Toronto Stock Exchange (TSE) in the next 30 days. The Board of Directors have also voted in favour of changing the Company's year end to December 31st. This change will result in the Company having two 1998 year ends - the second of which will cover a nine month period. ON BEHALF OF THE BOARD OF DIRECTORS OF CIRQUE ENERGY LTD. Glen A . Phillips President & Chief Executive Officer