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

To: Kerm Yerman who wrote (9553)	3/13/1998 1:54:00 PM
From: Arnie	Respond to of 15196

SERVICE SECTOR / Northlinks Capital announces Purchase Agreement Northlinks Capital Ltd ("Northlinks"), a Junior Capital Pool company, is pleased to announce that it has signed an agreement with RMS Holdings Inc. ("RMS"), whereby, pursuant to a definitive purchase agreement expected to be executed on or before April 29, 1998 Northlinks will acquire all of the shares of RMS in exchange for shares of Northlinks at a price of $0.25 per share. RMS in turn has signed a definitive purchase agreement with Delta Combustion Corp. ("Delta") to acquire all of the shares of Delta. Through RMS, Northlinks will acquire Delta's business. Since September 1995, Delta has been in the business of providing waste gas incinerator products, especially to the oil and gas industry primarily in Western Canada. Delta also has developed and has patent rights to proprietary Direct Fired Heat Pipe ("DFHP") technology. DFHP's principal applications are in the heating and separation of fluids and in line heaters in gas pipelines. The application of the technology offers significant safety, environmental and cost advantages to oil and gas producers. The businesses to be acquired employ a total of five individuals. Northlinks' strategy will be to devote significant resources to market and introduce DFHP to the oil and gas industry, initially in Canada and subsequently in the United Stares and internationally. It plans also to expand the existing incinerator business. Up to 4,480,000 common shares of Northlinks will be issued at a deemed price of $0.25 per share to shareholders of RMS in exchange for all of the issued and outstanding shares of RMS. The transaction has been approved by the Boards of Directors of Northlinks, RMS and Delta and the shareholders of Delta. A special meeting of shareholders of Northlinks will be called to approve the proposed transaction. The transaction is also subject to regulatory approval. It is intended that the acquisition of RMS will constitute Northlinks' Major Transaction pursuant to Alberta Securities Commission Policy 4.11 and Alberta Stock Exchange Circular No.7. Closing of the transaction is expected before the end of May, 1998. Northlinks has determined not to proceed with the previously announced proposed acquisition of the incinerator business of Bradon Industries Ltd. As a number of the directors of Northlinks are also directors and shareholders of RMS, this transaction will be treated as a non-arms length transaction. Upon the Closing of the transaction, following shareholder and regulatory approval, the directors and officers of the Company, all of whom are from Calgary, will be: Alastair Robertson, Chairman of the Board, President and Chief Executive Officer and Director. Mr Robertson has over 20 years financial and business experience including 14 years with Nowsco Well Service Ltd ("Nowsco"), latterly as Senior Vice President and Chief Financial Officer. Ross Drysdale, Director and Secretary, is a partner with the national law firm McCarthy Tetrault and is a director of several public companies. Mr Drysdale has extensive experience in the oil and gas industry. Roy Mathew, Director, is a professional engineer and is an equity partner in Bradon Industries Ltd. Mr Mathew has in excess of 20 years experience in the oilfield service sector including 14 years with Nowsco in several management capacities, and most recently as General Manager of Research, Development and Engineering. Michael McNulty, Director, is presently Vice President, Finance with Precision Drilling Corporation and has over 20 years financial and business experience in the oilfield service sector with Nowsco and Schlumberger. Upon the Closing of the transaction, Mr McNulty will resign as Chief Financial Officer of the Company. Al Steingart, Director, is a banker and has over 30 years experience in the banking sector with a major Canadian chartered bank, especially with respect to the oil and gas sector. Mr Robert French will become a Director of the Company following the Closing of the transaction. Mr French is a chartered accountant, who over the past 30 years has gained extensive business experience as an officer and director in several public companies. Ms Cher McKinnon will become Vice President and Chief Financial Officer of the Company. Ms McKinnon is a chartered accountant with over eighteen years experience in both industry and public practice and is presently Chief Financial Officer of RMS and President of The MacNon Group Inc. (a private consulting firm). For further information please contact: Alastair J. Robertson, President tel: (403) 234 9120 fax: (403) 234 9129 email: ajrobertson@shaw.wave.ca

To: Kerm Yerman who wrote (9553)	3/13/1998 1:58:00 PM
From: Arnie	Respond to of 15196

EARNINGS / Benson Petroleum reports 1997 Results (000's except per share amounts) 1997 1996 Change ____ ____ ______ Gross Revenue 15,943 10,880 +47% Cash Flow 7,151 4,804 +49% Per Share 0.41 0.30 +37% Net Earnings 1,591 1,532 +4% Per Share 0.09 0.10 -10% Capital Expenditures (Net of Dispositions) 10,928 3,223 +239% Daily Production Oil and Liquids (BOPD) 1,369 860 +59% Natural Gas (mmcf/d) 5.04 4.93 +2% BOEPD 1,873 1,353 +38% Net Undeveloped Acreage 93,000 90,000 +3% Wells Drilled 36 34 +6% Success Rate 81% 85% -4% Benson Petroleum Ltd. (''Benson'') achieved both record production and financial results for the fiscal year ended December 31, 1997. Strong commodity prices through the year and significantly higher crude oil and liquids production volumes contributed to a 47% increase in gross revenue to $15,943,000. Cash flow increased by 49% to $7,151,000 or $0.41 per share. These fiscal revenue and cash flow levels are the highest ever attained by the Company. Net earnings were up marginally to $1,591,000 or $0.09 per share, however, higher deferred taxes in 1997 offset higher pre-tax profit. Crude oil and liquids production increased by 59% to average 1,369 bbls/d in fiscal 1997 as a result of additions at Cherhill, Chauvin and Edgerton. December, 1997 production averaged 1,431 bbls/d. Gas production was up marginally to average 5.04 mmcfd, however, December, 1997 rates averaged 5.52 mmcfd as a result of new production at Cherhill, Edgerton, and Armada. The overall production average of 1,873 BOEPD is also a fiscal record for the Company. In 1997, crude oil and liquids prices averaged $22.45 per bbl, down 11% from the $25.21 per Bbl experienced in 1996. Natural gas prices, on the other hand, were up 28% to an average of $1.86 per mcf compared to $1.45 per mcf in 1996. Benson participated in 32 wells (18.2 net) and farmed out 4 wells resulting in 20 oil wells (9.7 net), 8 gas wells (4.6 net), 7 dry holes (3.4 net), and 1 service (.5 net) for an overall success rate of 81% during fiscal 1997. The Company increased its net undeveloped land inventory to approximately 93,000 acres net of expiries and dispositions in 1997. Benson's average working interest is 69% in this acreage which will form the basis for an ongoing exploration and development program in 1998 and beyond. Total capital expenditures were $10,928,000 net of dispositions compared to $3,223,000 in 1996. At year end 1997 bank debt was less than one year's cash flow, at $6,400,000 or approximately 0.9 times 1997 cash flow. Finding costs for 1997 were $4.91 per BOE versus $4.74 per BOE in 1996 while finding and development costs were $5.90 per BOE compared to $5.73 per BOE in 1996. Despite the substantial drop in crude oil prices since December and the prospects for continuing price weakness, the record performance and adherence to financial prudence by the Company in 1997 has resulted in a 23% increase in net asset value to $1.87 per share (using proven plus 1/2 probable reserve values discounted at 15%) on a fully diluted basis compared to $1.52 per share at year end 1996. Benson Petroleum Ltd. is a Calgary based exploration, development and production company listed on the Toronto Stock Exchange (Symbol:BEN). The Toronto Stock Exchange has neither approved nor disapproved the information contained in this press release.

To: Kerm Yerman who wrote (9553)	3/13/1998 2:00:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / HEGCO Canada perforates The El Grande Well EDMOND, Oklahoma, March 12 /CNW/ - HEGCO Canada, Inc., announced today that it perforated 10 sections, within a 690 foot interval, of the El Grande well, on Wednesday, March 11, 1998. Today, March 12, 1998 the Company will retrieve the perforating guns from within the well bore and begin the isolation, clean up and testing of each of the sections within the 690 foot interval. The testing procedure and evaluation of this well will take place over the next several weeks. Management is unaware of any adverse conditions at the well site and continues to be encouraged by the results of its logs and the completion of each step toward the final testing of this well. HEGCO Canada, Inc., is an Alberta, Canada corporation trading on the Alberta Stock Exchange under the symbol, ''HEG''. The Company is an oil & gas production, servicing and drilling company operating in Oklahoma and Arkansas. On behalf of the Board: Douglas C. Hewitt, Director, Chairman

To: Kerm Yerman who wrote (9553)	3/13/1998 2:03:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / First Calgary Petroleums Ltd updates Tunisia Well CALGARY, March 13 /CNW/ - First Calgary Petroleums Ltd, (''FCP'') released today the following report on the status of the company's testing program an the Sud Nefta exploration permit in West Central Tunisia. The exploration well, Nefta 1, reached final total depth of 4,675 meters on January 23, 1998. The drilling and logging operations identified several zones of interest with potential for commercial hydrocarbon reserves in the Jurassic, Triassic and Cambrian. The well was cased and tests through perforations were carried out in the lower and upper Cambrian and Lower Triassic zones. The tests in the Cambrian encountered formation water with gas too small to measure while the test in the Lower Triassic also encountered water with traces of light oil. At the end of the third test, mechanical difficulties resulted in the test string being stuck in the hole. After several unsuccessful attempts to retrieve the tools the Corporation has made the decision to suspend the well to allow the drilling rig to be moved to Bazma 1, an exploration wildcat well in Central Tunisia, to test a Lower Permian Reef prospect on the Bazma Permit. After further geological and engineering evaluation the Corporation will decide on any future testing program at the Nefta 1 site. FGP has a 10% working interest in the Sud Nefta Permit and a 20% interest before casing point / 15% interest after casing point in the Bazma well and Permit. FCP is an international oil and gas company listed on the Toronto Stock Exchange, trading under the symbol ''FCP''.

To: Kerm Yerman who wrote (9553)	3/13/1998 2:08:00 PM
From: Arnie	Read Replies (6) \| Respond to of 15196

ACQUISITION / Dominion Energy to acquire Archer Resources RICHMOND, Va., March 13 /CNW/ -- Dominion Energy, Inc. announced on Wednesday of this week that it will make a cash offer of approximately $128 million (C$183 million), or $5.32 (C$7.60) per share, to acquire Archer Resources Ltd., a publicly traded natural gas exploration and production company headquartered in Calgary, Alberta, Canada. The proposed acquisition of 100 percent of Archer's shares would increase Dominion Energy's natural gas production capability by approximately 50 percent. Under an agreement approved by the boards of both companies on Tuesday, Dominion Energy expects to extend an offering circular to Archer shareholders on March 18, with a 21-day offering period. Closing is expected in late April. Dominion Energy's offer is conditioned upon 66-2/3 percent of Archer's outstanding shares being tendered, obtaining all required regulatory approvals and certain other conditions. Through the offer and subsequent steps, Dominion Energy intends to acquire 100 percent of Archer's shares. Certain directors, officers and major shareholders of Archer, holding approximately 17 percent of shares of Archer, have irrevocably agreed to tender their shares to Dominion Energy in its offer. Other directors and officers of Archer, holding an additional 2 percent of Archer shares, have indicated their intention to tender their shares to Dominion Energy's offer. Archer has agreed to pay Dominion Energy non-completion fees and costs of at least $4.2 million (C$6.05 million) if Archer accepts any superior offer in certain circumstances. G.E. Lake, Jr., senior vice president - oil and gas operations, said: "Archer fits well with Dominion's long-term growth strategy and is a logical addition to our family of businesses. We're acquiring significant future drilling potential and an excellent platform for growth into our third core area of operations in addition to Michigan and the Appalachian Basin. We're also gaining an experienced, compatible management team and employee group that has created consistent profitability and strong financial performance while maintaining a low cost structure." Archer produces approximately 72 million cubic feet of natural gas and 1,500 barrels of oil per day in Alberta. Archer's other assets include 16 processing facilities and over 500,000 undeveloped acres. Archer, which trades on the Toronto Stock Exchange under the symbol "ARC," employs 75 people. Dominion Energy is the competitive power and natural gas subsidiary of Dominion Resources, Inc. (NYSE: D), a $20 billion holding company active in regulated and independent electric power, natural gas, financial services and real estate. Dominion Energy has more than 460 billion cubic feet of natural gas reserves in the U.S. and an average daily production of 161 million cubic feet. It also has ownership and operating interests in 28 competitive power facilities throughout the U.S. and Latin America. Lehman Brothers Canada Inc. advised Dominion Energy on the transaction. This press release is not an extension at this time of a tender offer in the United States for the shares of Archer Resources Ltd. Dominion Energy intends to extend the tender offer in the United States at a future time, and the procedural and filing requirements of the U.S. Williams Act will be satisfied at that time.

To: Kerm Yerman who wrote (9553)	3/16/1998 11:29:00 PM
From: Arnie	Respond to of 15196

CORP. / Redeco Energy reduces number of Common Shares Redeco Energy Inc. today announced that the Company's total number of common shares outstanding has been reduced by 4.6 million shares. The transaction represents the first tranche of a previously announced agreement whereby the three founding principals of the Company will cancel half of their shareholdings. In total, 18,365,000 shares will be ultimately cancelled, reducing the total number of common shares outstanding to 30.4 million. Redeco is an oil and gas exploration and development Company which, with a joint venture partner, owns the oil and gas exploration rights for the entire country of Moldova, an area of approximately 8.3 million acres. In addition, with another partner, it owns an exploration permit in neighboring Romania.

To: Kerm Yerman who wrote (9553)	3/16/1998 11:32:00 PM
From: Arnie	Respond to of 15196

SERVICE SECTOR / Canadian Crude Separators reports 1997 Results Canadian Crude Separators Inc. today announced results for the three and twelve months ended December 31, 1997. --------------------------------------------------------------------------- Three Months Ended Twelve Months Ended December December December December $000 except where noted 31, 1997 31, 1996 31, 1997 31, 1996 --------------------------------------------------------------------------- Revenue 11,535 7,045 33,162 23,272 --------------------------------------------------------------------------- EBITDA 3,277 1,594 9,408 4,565 EBITDA per share($) 0.36 0.18 1.04 0.51 --------------------------------------------------------------------------- Net Income (loss) 1,281 (69) 4,159 (697) --------------------------------------------------------------------------- Net Income (loss) per Share ($) 0.14 (0.01) 0.46 (0.08) --------------------------------------------------------------------------- Results for the three and twelve month periods ended December 31, 1997 reflect the growth of the Company's operating asset base, improved efficiency of operations and the strength of the oil and gas industry. Revenue for the twelve months ended December 31, 1997 increased by 42% over the same period in 1996 while revenue for the final quarter of 1997 was 63% higher than the same period of 1996. Both of the company's divisions contributed to this increase. The oil treatment and waste processing division saw revenue increase by $4.9 million or 33% in 1997 over 1996. The division's revenue for the fourth quarter of 1997 increased to $7.0 million, a 67% increase over the same period of 1996. These increases are the result of the addition of facilities during the year, including the Fox Creek plant and the Unity cavern facility, which opened in July and October respectively, and increased volumes at all plants. The well servicing division experienced a 59% increase in revenue from $8.4 million in 1996 to $13.4 million in 1997. Fourth quarter revenue increased by 57% to $4.5 million in 1997 from $2.9 million in 1996. The addition of two rigs in late 1996, seven rigs in November 1997 and increased utilization rates contributed to this increase. The positive impact of efforts to improve the efficiency of operations is reflected in the increase in earnings before interest, taxes, depreciation and amortization (EBITDA). EBITDA increased by $4.8 million or 106% in the year ended December 31, 1997compared to the same period in 1996. As a percent of revenue, EBITDA increased from 20% in 1996 to 28% in 1997. Net income increased to $4.2 million in the twelve months ended December 31, 1997 compared to a loss of $697,000 in the same period of 1996. Net income in 1997 includes a $889,000 gain (net of tax of $736,000) on the sale of two producing oil wells. Net income in 1996 included a $1.3 million (net of tax of $1.1 million) writedown of a rotary kiln thermal oxidizer. In December the Company issued 3,049,880 Special Warrants at a price of $5.25 per Special Warrant. The Special Warrants were converted into 3,049,880 common shares of the Company on March 5, 1998 without payment of any additional consideration. In conjunction with this transaction the Company's common shares commenced trading on the Toronto Stock Exchange in February 1998. Dave Werklund, CEO, said, "we have been successful at expanding our asset and revenue base, increasing the efficiency of operations and strengthening our balance sheet. As a result, the Company is in a very good position to manage any affect a potential commodity price induced industry slowdown may have on our operations and to continue to pursue growth opportunities in our core businesses." For further information please contact: Alec McDougall Bob German President and Chief Operating Officer Vice President, Finance Ph: (403) 233-7565 Ph: (403) 231-1103 Fax: (403) 261-5612 Fax: (403) 261-5612

To: Kerm Yerman who wrote (9553)	3/16/1998 11:34:00 PM
From: Arnie	Respond to of 15196

DISPOSITION / Gulf Canada sells UK North Sea Assets DENVER, March 16 /CNW/ - Gulf Canada Resources Limited and Kerr-McGee Corporation announced today that the companies have signed a definitive agreement under which Gulf will sell its United Kingdom North Sea operations to Kerr-McGee for Cdn$590 million in cash. The effective date of the transaction is March 31, 1998 and the companies expect the transaction to be complete by mid-May, 1998, subject to regulatory approval. Gulf Canada President and CEO Dick Auchinleck said ''The proceeds from the sale of our U.K. North Sea assets will be used to repay debt and goes a long way to meeting our $850 million debt reduction target aimed at strengthening Gulf's balance sheet.'' Luke R. Corbett, Chairman and CEO of Kerr-McGee added, ''The acquisition of these North Sea assets will add a currently identified proved and potential reserve base of 100 million BOE, with upside potential. The geographic synergies between Kerr-McGee's and Gulf Canada's portfolio provide obvious enhancement. We are particularly pleased to be acquiring an additional 21.5 percent interest in our operated Gryphon Field, where we have further exploitation work planned. In terms of net production, Gulf Canada's 19,000 b/d will increase our current North Sea production by 80 percent to over 42,000 b/d. Projects now underway will cause this rate to increase by year-end, providing a strong base for further exploration and development opportunities.'' The assets to be sold represent all of Gulf's holdings in the U.K North Sea involving some 28 licenses including interests in the Wytch Farm, Gryphon, Andrew and Ross Fields.

To: Kerm Yerman who wrote (9553)	3/16/1998 11:36:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

FINANCING / Suncor Energy announces Syndicated Credit Facility CALGARY, March 16 /CNW/ - Suncor Energy Inc. announced today that it has successfully arranged syndicated credit facilities totaling Cdn$1.275 billion. Borrowings under the syndicated credit facilities will be used for general corporate purposes and have been arranged in anticipation of the company's multi-billion dollar capital expenditure program over the next four years. The facilities are unsecured and rank pari passu with other unsecured and unsubordinated indebtedness of Suncor. The syndicated credit facilities were arranged by Royal Bank of Canada and jointly underwritten by Royal Bank of Canada, Canadian Imperial Bank of Commerce and The Bank of Nova Scotia, with 12 other banks participating in the facilities. ''We are pleased to have these credit facilities in place,'' says Ken Alley, Suncor's treasurer. ''This will help enable us to finance our growth over the next several years. It's really another piece of our expansion plan falling into place.'' Suncor Energy is a Canadian integrated energy company operating an oil sands plant in Fort McMurray, Alberta; a conventional exploration and production business in Western Canada; a refining and marketing operation in Ontario and Quebec; and an oil shale development project in Queensland, Australia. Suncor Energy common shares are listed for trading on the Toronto, Montreal and New York stock exchanges. For more information about Suncor Energy, visit our website at www.suncor.com. Note: This news release contains forward-looking information. Actual future results may differ materially. The risks, uncertainties and other factors that could influence actual results are described in Suncor Energy's annual report to shareholders and other documents filed with regulatory authorities.

To: Kerm Yerman who wrote (9553)	3/16/1998 11:38:00 PM
From: Arnie	Respond to of 15196

FIELD ACTIVITIES / Wolverine Energy reports DRilling Success CALGARY, March 16 /CNW/ - Wolverine Energy Corp. (WVE-ASE) announces that it has tapped into a very significant natural gas reservoir in the West Ghost River area (100% working interest) located about 65 kilometers west of Calgary. Wolverine Energy Corp. recently completed drilling two horizontal legs into the Mount Head formation. The two horizontal sections were drilled from the Wolverine Salter 8-29-26-8W5M well (100% working interest). One horizontal leg was drilled into the Upper Mount Head formation and encountered just over 310 meters of horizontal gas pay. This horizontal leg flowed natural gas immediately after drilling and is currently being completed for production. Production testing will be completed later in March. The second horizontal leg drilled off of the 8-29 well reached a length of just over 360 meters in length and targeted the Lower Mount Head and Turner Valley formations. Wolverine Energy expects to resume drilling in this lower leg at a later date to continue development of these two formations. The Company expects to be able to develop the Mount Head and Turner Valley formations in the West Ghost River area and sees the same potential in its South Ghost River (100% working interest) project area. Wolverine Energy Corp. continues to pursue its natural gas growth strategy in the southern Alberta foothills and northeastern British Columbia through drilling and property acquisitions. Wolverine Energy expects natural gas to provide significant growth opportunities for the Company and will focus its 1998 capital programs in this area. For additional information on the Company, visit us at our website www.wolverine-energy.com

To: Kerm Yerman who wrote (9553)	3/16/1998 11:56:00 PM
From: Arnie	Respond to of 15196

CORP. / Sinorank Petroleum Resources announces Financials Delayed VANCOUVER, March 16 /CNW/ - Sinorank Petroleum Resources Limited (VSE: SNP) Albert Li, President and Director of Sinorank Petroleum Resources Limited (''Sinorank'' or the ''Company'') announces that the release of the financial statements and Report to Shareholders for the nine months ending December 31, 1997 have been delayed for the following reasons: - The Company's main priority has been providing financial and other information to two major international oil companies which are considering the acquisition of Sinorank's 60% interest in the Zhanjiang Joint Venture. Formal indications of interest have been requested for March 31, 1998. - The major shareholder and former president of the Company, Mr. Fong Kei Wah, has continued to impede the actions of the Company's President and Chief Financial Officer, Mr. Albert Li and other senior management in carrying out their duties. A Board meeting has been scheduled for March 23 by the Directors to approve such quarterly statement following which distribution of such information will be made to shareholders. As mentioned in our January 20 press release, further investigation has indicated that part of Sinorank's investment in the Yunnan Joint Venture was disbursed by the former president of the Company, Mr. Fong Kei Wah and his former associate, Mr. Wong Jie on improper purposes and without authorization by Sinorank. Charges are being laid with the Yunnan police authorities.

To: Kerm Yerman who wrote (9553)	3/16/1998 11:59:00 PM
From: Arnie	Read Replies (1) \| Respond to of 15196

CORP. / Framfield Oil & Gas report Investment Interests CALGARY, March 16 /CNW/ - Framfield Oil & Gas Ltd. (''Framifield''), Mr. J. Gary Ibbotson and 765888 Alberta Ltd. wish to jointly announce their combined interests in BRIGADIER ENERGY INC. (ASE:BGR) (''Brigadier'') and DRAIG ENERGY INC. (ASE:DRA) (''Draig''). On February 20, 1998, Framfleld announced its investments in Brigadier and Draig and it also wishes to announce its association with Mr. Ibbotson and a private company controlled by him, 765888 Alberta Ltd., who also have ownership interests in Brigadier and Draig. This association arises from the fact that 765888 Alberta Ltd. is a minority shareholder of Framfield. Framfield has previously announced its ownership of 1,500,001 Brigadier common shares and 333,334 Brigadier warrants and the ownership of its associate, Macon Resources Inc. (''Macon''), of 1,512,349 Brigadier shares and 333,334 warrants. On September 19, 1997, Mr. Ibbotson purchased 1,666,667 Brigadier shares on a flow through private placement. Mr. Ibbotson also controls 490,591 Brigadier shares through 765888 Alberta Ltd. Therefore Mr. Ibbotson currently beneficially owns or controls 2,157,258 Brigadier common shares. The aggregate number of Brigadier securities beneficially owned or controlled by Framfield and its associates, Macon, Mr. Ibbotson and 765888 Alberta Ltd., equals 5,836,276 Brigadier securities including Framfield's and Macon's warrants. Framfield has also previously announced its ownership of 915,101 Draig common shares and 181,667 Draig warrants and Macon's ownership of 698,500 Draig shares and 181,667 warrants. In addition as a result of a flow through private placement purchase on September 19, 1997, 765888 Alberta Ltd. owns 1,666,667 Draig shares. Accordingly the aggregate number of Draig securities owned by Framfield and its associates, Macon and 765888 Alberta Ltd., equals 3,643,602 Draig securities including Framfield's and Macon's warrants. The investments by Framfield, Mr. Ibbotson and 765888 Alberta Ltd. in the securities of Brigadier and Draig have been made for long term investment purposes only. Whether or not either of them will purchase any further shares of Brigadier or Draig will depend on the prevailing market prices of such shares.

To: Kerm Yerman who wrote (9553)	3/17/1998 12:01:00 AM
From: Arnie	Read Replies (1) \| Respond to of 15196

GENERAL INTEREST / Earthwork contract awarded by Sable Offshore Energy HALIFAX, March 16 /CNW/ - Sable Offshore Energy Incorporated (SOE Inc.) today announced that J & T van Zutphen Construction Ltd. of Port Hood, Nova Scotia, has been awarded a contract for the earthwork and site preparation at the Goldboro natural gas plant site. The award was made by the alliance contractor BBA, a Joint Venture, responsible for the onshore construction facilities. The contract is worth about $3.5 million and has a 100% Nova Scotian content. Van Zutphen's have operated in Nova Scotia for the past 34 years. All construction work will be done at the Goldboro plant site and will include the mobilization of equipment, initial survey, and commencement of earthwork activities for construction of the access road and main site area. BBA Project Manager Steve Corkum said that while this is a union job, discussions would continue between the contractor and the respective bargaining units to maximize opportunities for Guysborough County residents. Van Zutphen will make an immediate start on the contract. More than 30 people will be employed in the work, which is expected to be completed by July 31, 1998. SOE Inc. is owned by: Mobil Oil Canada Properties Limited 50.8% Shell Canada Limited 31.3% Imperial Oil Resources Limited 9.0% Nova Scotia Resources Limited 8.4% Mosbacher Operating Limited .5%

To: Kerm Yerman who wrote (9553)	3/17/1998 12:04:00 AM
From: Arnie	Read Replies (1) \| Respond to of 15196

EARNINGS / Stellarton Energy reports 1997 Results CALGARY, March 16 /CNW/ - Year ended December 31, Three months ended December 31, 1997 1996 1997 1996 ------------------------------------------------------------------------- Revenue $16,371,631 $3,154,626 $5,152,183 $2,222,664 ------------------------------------------------------------------------- Cash flow $ 2,536,555 $ 952,791 $ 384,205 $ 638,103 ------------------------------------------------------------------------- Cash flow per share $ 0.16 $ 0.18 $ 0.02 $ 0.04 ------------------------------------------------------------------------- Earnings $ 13,758 $ 257,685 ($ 405,520) $ 196,096 ------------------------------------------------------------------------- Production (BOE/day) 1,062 240 1,340 532 ------------------------------------------------------------------------- Proved reserves (mBOE's) 4,478 2,006 ------------------------------------------------------------------------- Common shares outstanding 18,527,564 14,512,202 ------------------------------------------------------------------------- Stellarton Energy Corporation's first full year under the strategy of combining oil field tools and technology with resource operations witnessed a 419 percent increase in revenues and 166 percent growth in cash flows compared to 1996. Corporate Financial Results Revenue and cash flow growth reflects higher production in Resources ($7.2 million) and the inclusion of Secure for the full 1997 calendar year combined with increases sales by Secure ($7.3 million). Offsetting the above noted positive factors were lower commodity prices ($1.4 million), higher royalties and operating costs in Resources and lower margins in Secure due to significant product development costs incurred during 1997. Secure Oil Tools Oil tool revenues for 1997 were $8.4 million up from $1.0 million recorded by Stellarton for the period from the acquisition of Secure on September 26, 1996 to December 31, 1996. When compared to the full year 1996 Secure's sales increased 88% in 1997 over 1996. Fourth quarter 1997 revenues for Secure were $2.5 million compared to $1.0 million in the same period last year. Secure's cash flow from operations was $148,791 in 1997 versus $21,680 recorded for the partial year 1996. The 1997 cash flow represents 1.8% of revenue, a figure below management's long term expectations. Both manufacturing costs (67% of sales) and general and administrative expenses (31 % of sales) were high in 1997 due to the cost of product development and the creation of infrastructure to transform Secure from a single product, domestically-focused division to a multi-product entity with a growing international focus. Secure experienced a net loss in 1997 of $66,614 compared to a loss in 1996 of $11,525. Resources Division Resources revenue in 1997 was $8.0 million up 277 percent from 1997 revenue of $2.1 million. Production volumes, averaging 1062 barrel of oil equivalent per day in 1997, were 343 percent higher than in 1996. Offsetting the production increase was a decline in commodity prices with the average price per barrel of oil equivalent at Cdn $20.68 in 1997 compared to Cdn $24.30 in 1996 which decreased revenue by $1.4 million. Fourth quarter volumes were up 152 percent over 1996 to average 1,340 barrels of oil equivalent per day increasing revenue for the quarter to $2.6 million compared to $1.3 million in the last quarter of 1996. Resources exited the year with production volumes of approximately 1,600 barrels of oil equivalent per day. Royalty costs were up as a percent of sales revenue in 1997 averaging 18 percent compared to 10 percent on average in 1996 when activities were focused on tying in non-producing or shut-in oil wells, many of which were subject to royalty holidays when brought on production. The increased royalty rates lowered net revenues by $0.5 million compared to 1996 while increased production resulted in the balance ($0.8 million) of the higher royalties. Operating costs were $2.8 million in 1997 up from $0.6 million in 1996. On a per barrel of oil equivalent basis costs were $7.26, up from $6.50 in 1996. The increase in production accounted for $1.9 million of the increase while the higher per unit cost had a $0.3 million impact. Costs were negatively impacted by the large block of properties acquired with the start-up of SGS Partnership effective April 1, 1997. These propertles tended to have higher initial operating costs that were lowered to $6.66 per barrel of oil equivalent on average by the last quarter of 1997. Resources replaced 1997 production by 740 percent at an average proved finding and development cost of $6.38 per barrel of oil equivalent. Our F&D cost performance since start-up of the SGS Partnership have been $3.13 per barrel of oil equivalent of proved reserves added. Finding and development costs for established (proved plus one half probable) reserves added were $5.02 in 1997. The 1997 performance, when combined with 1996 F&D costs of just over $2.00 per barrel of oil equivalent, results in a two year proved only average F&D cost of $5.85 per barrel of oil equivalent. Outlook Stellarton has completed a remarkable year of growth in its operations and opportunities. Product development in Secure and the establishment of the SGS Partnership in the Resource Division are two major accomplishments that have positioned the company for continued growth. Our December 31, 1997 closing share price of $4.60 provided an 80 percent return for our shareholders during 1997 and a return of 360 percent to shareholders who participated in our September, 1996 financing. The Company has balanced cash flows provided by its two divisions and can deliver financial results that are not entirely dependent on oil and gas commodity prices. A focus on continuing the momentum of the existing line of products in Secure and the ongoing growth of the SGS Partnership is being supplemented with the search for new opportunities in both divisions.

To: Kerm Yerman who wrote (9553)	3/17/1998 12:07:00 AM
From: Arnie	Read Replies (1) \| Respond to of 15196

PIPELINES / TransCanada Pipelines files for Additional Expansion CALGARY, March 16 /CNW/ - TransCanada PipeLines Limited has filed an application with the National Energy Board to construct a $14.7 million, 6.5 kilometre pipeline loop in southern Ontario. TransCanada had intended to include the loop as part of its upcoming 1999 facilities application, but decided to proceed with it in 1998 in response to customer requests for more flexibility at the Parkway delivery point. TransCanada already has approval from the National Energy Board to construct 417 million cubic feet (MMcf) per day of new capacity in 1998, at a cost of approximately $825 million. ''This application is part of our continuing effort to provide customers with timely pipeline capacity and the flexibility they need to meet the demands of a growing, deregulated market place,'' said Max Feldman, vice-president, Business Operations and Transportation Marketing. The proposed loop will result in up to 30 MMcf per day of additional capacity through Parkway during the summer season by relieving a significant system bottleneck during a period when an increasing number of shippers deliver volumes into the Union Gas system for injection into storage. The project is slated for completion by mid-July 1998. This is the third consecutive year of significant expansion on TransCanada's natural gas pipeline system. By November 1998, TransCanada will have expanded its delivery capability by about 900 MMcf per day since November 1996. These expansions on the Canadian Mainline, combined with the 700 MMcf per day expansion by Northern Border pipeline into Chicago by November 1998, will bring pipeline transportation capacity into balance with production capability from the Western Canadian Sedimentary Basin. This means the price differentials and perceived capacity shortfalls that caused producers to consider alternative pipeline proposals will be addressed by November 1998 as a result of the expansions on TransCanada and Northern Border, two years in advance of when the proposed Alliance pipeline has stated it will be in operation. TransCanada PipeLines Limited is one of North America's leading transporters of natural gas through its energy transmission businesses. TransCanada also operates significant complementary businesses in energy marketing and energy processing in North America, and is extending its operations internationally.

To: Kerm Yerman who wrote (9553)	3/17/1998 12:08:00 AM
From: Arnie	Read Replies (5) \| Respond to of 15196

FINANCING / Purcell Energy announces Special Warrants Qualified CALGARY, March 16 /CNW/ - Purcell Energy Ltd. announces that it has received final receipts from the Alberta, Ontario and Saskatchewan securities commissions for its prospectus qualifying 7,000,000 common shares issuable in exchange for outstanding special warrants. As announced previously, 6,000,000 special warrants were issued pursuant to private placements on November 19, 1997 and 1,000,000 special warrants were issued on November 3, 1997 on a tax flow-through basis pursuant to a private placement agreement dated July 25, 1997. Aggregate proceeds of $10,250,000 from the private placements were previously received by the Corporation. After exchange of the special warrants for common shares, Purcell will have 21,022,540 common shares issued and outstanding. Net proceeds from the financings were used initially to reduce bank indebtedness and, subsequently, to fund land purchases, exploration activity and development programs carried out in the fourth quarter of 1997 and the first quarter of 1998. The Corporation has set a $13 million capital expenditures budget for 1998, which is a reduction, primarily due to lower oil prices, from the estimated budget of $15 to $20 million announced previously. Capital expenditures in 1998 have been allocated between $5 million for drilling, $1.5 million for completions and tie-ins, $1.5 for construction of facilities, $3.8 million for property acquisitions, $0.7 million for seismic programs, and $0.5 million for land purchases. These expenditures are anticipated to be funded as to approximately $3 million from proceeds of the financings, approximately $5 million from cash flow from operations and approximately $5 million from bank debt. Purcell's current production is approximately 1400 BOE/d, which is double production levels at this time last year. Production is expected to reach 1500 BOE/d by the end of April, 1998, of which approximately 45% will be gas production. The Corporation plans to drill at least 35 gross (16 net) wells in 1998 in order to achieve an exit 1998 production target of 1900 BOE/d. Terry L. Lindquist, C.A., has been appointed Chief Financial Officer of Purcell. Mr. Lindquist was previously Controller, a position he held since September, 1994.