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

To: Kerm Yerman who wrote (9935)	4/3/1998 11:55:00 PM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Bearcat Explorations Ltd.,with Bearcat Explorations Ltd., Stampede Oils Inc., Panda Petroleum's Ltd., and Curlew Lake Resources Inc.,(Farmor Group) Advises Further On Land Sale & Property Acquisition BEARCAT EXPLORATION LTD. CALGARY, April 3 /CNW/ - To further clarify the results of the April 01, 1998 P&NG Crown Rights Land Sale and the Company's News Release issued yesterday April 02, 1998. Bearcat Explorations Ltd., on behalf of the Farmor group in the Turner Valley project, Bearcat Explorations Ltd., Stampede Oils Inc., Panda Petroleum's Ltd., and Curlew Lake Resources Inc., advises the following: The Farmee group (Imperial Oil Resources Limited and Berkley Petroleum Corp.) acquired in excess of 1 1/2 sections of P&NG leases on behalf of both the Farmee and Farmors, out of 6 1/4 sections of leases originally posted for this sale in the Turner Valley north area. The 1/2 section lease was acquired by Imperial Oil Resources Limited at a cost of $ 407,595.00 or $ 1,274.00 per acre. This is the highest price per acre paid for P&NG leases in this area in several years and is indicative of the very favorable results of the nearby recently drilled Imperial Berkley Turner Valley 2-21-21-3w5M well. The Farmee acquired the one-section lease also in the area of the well at a cost of $127,934.00. These leases are located very strategically related to the delineation of the underlying Regional Turner Valley reservoir and are considered to be a very significant addition to the Company's P&NG lease position in the Turner Valley oil and gas prospect. Information on the results of the Imperial Berkley 2-21 well is expected to be available next week. Follow-up drilling operations will commence in the very near future. BEARCAT EXPLORATIONS LTD. is listed on the Alberta Stock Exchange under the symbol BEA.