Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerm Yerman who wrote (9903)	4/3/1998 1:36:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. / KeyWest Energy (San Fernando Mining Co) Organization KEYWEST ENERGY CORPORATION CALGARY, April 2 /CNW/ - KEYWEST ENERGY CORPORATION, a newly-formed oil and gas company, announces the opening of its office at Suite 2310, 520 Fifth Avenue S.W., Calgary, T2P 3R7, phone: (403) 261-2766, fax: (403) 234-9637. The officers of the Company are Harold V. Pedersen, President; Mary C. Blue, Executive Vice President and Garry L. West, Vice President Engineering & Production. All are former officers of Jordan Petroleum Ltd. which was sold in December 1997. In addition to Mr. Pedersen and Ms. Blue, the directors of KeyWest Energy are Hugh Mogensen, Ron Belsher, Ron Woods, David Crevier and John Brown. Six of the seven directors are former directors of Jordan Petroleum. The Company is currently registered as San Fernando Mining Company Ltd. and is listed on the Vancouver Stock Exchange as SNF. A Special Shareholders Meeting has been called for May 14, 1998 to approve various corporate matters to effect the reorganization including the name change to KeyWest Energy Corporation. Following the meeting, KeyWest will have 16.7 million shares outstanding, cash of $10.1 million and no debt. KeyWest management plans to build a new oil and gas company through business combinations, acquisitions and drilling.

To: Kerm Yerman who wrote (9903)	4/3/1998 1:59:00 AM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / PrimeWest Medicine Hat Acquisition PRIMEWEST CLOSES MEDICINE HAT ACQUISITION 1998-04-02 CALGARY, ALBERTA PrimeWest Energy Trust announced today that PrimeWest Energy Inc. has closed the transaction for the acquisition of the Medicine Hat properties, located in Southeastern Alberta, and other minor properties. This acquisition represents the second of the two acquisitions that PrimeWest announced on March 3, 1998. The first transaction, for the acquisition of the Grand Forks properties in Southeastern Alberta, was closed on March 31, 1998. The purchase price for the Medicine Hat properties was $26.2 million before adjustments, and was funded with proceeds from an equity offering which closed on March 31, 1998 and resulted in PrimeWest receiving net proceeds of $59.1 million. With the Medicine Hat property acquisition, PrimeWest acquired established (proved plus half probable) reserves of approximately 4.45 million barrels of oil equivalent and average production of 1,230 barrels of oil equivalent per day in 1998. The Medicine Hat acquisition will have an impact on PrimeWest's operating performance effective March 1, 1998. The Medicine Hat properties are primarily natural gas properties. In this transaction PrimeWest acquired approximately 31.8 BCF of established natural gas reserves (approximately 70% of this transaction's total reserves, in barrels of oil equivalent) and 7.7 million cubic feet per day of natural gas production in 1998 (approximately 63% of this transaction's total production, in barrels of oil equivalent). PrimeWest believes that acquiring both the Medicine Hat properties and the previously announced Grand Forks properties will provide several benefits to Unitholders: .. increase total unit distributions paid to Unitholders in 1998; .. provide the asset base for property enhancements to add to future distributions; .. maintain PrimeWest's strong reserve base by replacing over 200% of PrimeWest's total 1998 production; .. provide relative distribution stability by maintaining a well balanced commodity portfolio; .. when coupled with the associated equity financing, increase PrimeWest's financial flexibility to enable the Trust to pursue new property enhancement and value adding acquisition opportunities this year. The trust units of PrimeWest Energy Trust trade on the Toronto Stock Exchange under the symbol "PWI.UN".