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

To: Kerm Yerman who wrote (9936)	4/3/1998 8:10:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING TOP 20 LISTED / Canadian 88 Energy Corp. Announces $55.5 Million Equity Financing TSE, ASE SYMBOL: EEE APRIL 3, 1998 CALGARY, ALBERTA-- Canadian 88 Energy Corp. of Calgary, Alberta, announced today that it has entered into an agreement for the issuance of 7.5 million shares at $7.40 per share, for gross proceeds of $55.5 million. The underwriting syndicate is being led by Goepel McDermid Inc. The Underwriters have an option for an additional 750,000 shares at $7.40 per share. Proceeds of the issue will be used for Canadian 88's capital expenditure program which is estimated to be a minimum of $130 million in 1998. Canadian 88 Energy Corp. (EEE) is an independent public oil and gas company with head office in Calgary, Alberta, Canada.

To: Kerm Yerman who wrote (9936)	4/3/1998 8:12:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Windsor Energy - Exploration Update TSE, AMEX SYMBOL: WNS APRIL 3, 1998 CALGARY, ALBERTA--Windsor Energy Corporation is pleased to announce the completion of three new wells at Rincon Island. The three wells will increase production by 330 Barrels of Oil Equivalent per Day (BOEPD). Thomas E. Hogan, president and Chief Executive Officer of Windsor Energy said he was most pleased with the fact that the Company has also been able to get the lifting cost at the Rincon Island facility under 3 dollars U.S. per barrel over the past few months. "We are meeting our objectives on all fronts," Mr. Hogan said. "Our production continues to climb on schedule and our lifting costs continue to fall." "The Company also continues its rework program at Bayou Choctaw in Louisiana," Mr. Hogan said. "The first results on the Bayou Choctaw wells were very rewarding, increasing production from 30 BOEPD to 160 BOEPD. This is part of a multi-well program that will be continuing over the next 6 months." "Obviously, our first quarter results will show the effect of the low oil prices and the El Nino storms in California," Mr. Hogan concluded. This 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 documents filed with regulatory authorities. Windsor is a Calgary, Alberta and Dallas, Texas based international exploration and production company traded on the Toronto Stock Exchange (TSE:WNS) and the American Stock Exchange (AMX:WNS).

To: Kerm Yerman who wrote (9936)	4/3/1998 8:15:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY DISPOSITION / Northstar Sells Non-Core Properties for $75 Million TSE, ASE, ME SYMBOL: NEN APRIL 3, 1998 CALGARY, ALBERTA--Northstar Energy Corporation today announced that it has agreed to sell $75 million of non-core properties. In commenting on the sales, John Hagg, chief executive officer, said "over the past year, Northstar has pursued an exploration and development program focussed heavily in the natural gas sector, reflecting our strategic plan to reestablish the company's historic emphasis on natural gas production. Consistent with that strategy, we recently announced our intention to sell some portion of the company's mature oil properties. The sale transactions will help us to achieve our goal of upgrading the quality of our assets and enhancing our concentration on the natural gas sector." The dispositions include approximately 3,800 barrels of oil equivalent per day of production. Northstar also provided an update on its drilling results by announcing that the company participated in 160 wells in the first quarter of 1998 with a 74 percent success rate. Mr. Hagg noted that "we had a very active drilling program in the first quarter of 1998, reflecting the company's significant presence in the winter access only areas of northern Alberta." Mr. Hagg added that "during the first quarter, we also drilled 40 wells in our other core areas and continued with the drilling of three wells in the foothills." In the southern Alberta foothills region, the company's Blairmore well reached its target depth of approximately 17,000 feet in the first quarter and is currently being tested. In commenting on the Blairmore results, Mr. Hagg said "the well logs were very encouraging, however, test results have been inconclusive to date. The well is currently shut-in for pressure build-up and we expect to continue with production testing and completion over the next few weeks." Northstar is also participating with a one third interest in a well on the Burmis prospect in the southern Alberta foothills, which has been drilled to its target depth of 15,000 feet. The well has been logged and cased and the production testing program is currently being finalized. At its Racehorse Creek prospect, Northstar is continuing with a new exploratory well in which it has a 50 percent interest and which has a projected target depth of approximately 15,000 feet. Mr. Hagg noted that "the initial well at the Racehorse Creek prospect completed in early 1997 was drilled into a potentially large gas reservoir, but encountered insufficient porosity for an economic production rate. The new well at Racehorse Creek is being drilled approximately 2,500 feet to the east of the initial well where we anticipate encountering the optimal conditions to allow the commercial development of the potentially significant natural gas pool." Intermediate casing has been set to a depth of 11,000 feet and the company has recommenced drilling with results expected late in the second quarter of 1998. With regard to activities in the foothills region generally, John Hagg said "we are encouraged by the drilling in the southern foothills area. The horizontal well drilled in the Coleman field in the fourth quarter of 1997 commenced production late in the year and will help to increase our production from the area. In addition, if any of the other three wells currently being drilled is a success, the production will be tied-in to the company's Coleman facility." Mr. Hagg went on to say that "natural gas production from the Coleman field has been somewhat restricted over the past three months because the Coleman gas plant requires processing modifications to improve the current throughput capacity." The modifications to the plant are expected to be completed late in the second quarter of 1998. First quarter natural gas production averaged approximately 200 million cubic feet per day. During the second quarter, an additional 25 million cubic feet per day of natural gas is expected to come on stream as a result of the company's winter drilling program. Those production levels will be further augmented by an additional 10 million cubic feet per day when the modifications to the Coleman facility have been completed. Prior to the sale of the non-core properties, daily oil and liquids production averaged approximately 22,000 barrels. John Hagg noted that "the properties that we have sold were generally high decline, high operating cost properties. As a result, netbacks realized on the sale of crude oil produced from those properties were significantly less than our corporate average. While the sales will affect our overall production levels, they will have a disproportionately lower impact on our cash flow throughout the year." Northstar today also confirmed that it has closed the previously announced issuance of U.S. $150 unsecured senior notes to the Prudential Insurance Company of America. The notes have an eleven year maturity, are repayable in three equal installments of U.S. $50 million in years nine, ten and eleven and carry a 6.79 percent coupon. In addition, the company has completed the sale of its 48 percent interest in the West Windsor Power cogeneration facility for total proceeds of $72.3 million. During the remainder of 1998, Northstar will continue with its non-core property and investments disposition program. In that regard, Northstar recently filed with securities regulators and The Toronto Stock Exchange a notice required under securities legislation in order to allow Northstar to sell its 5,406,572 common shares of Morrison Middlefield Resources Limited. John Richels, chief financial officer, said "the non-core property and investment dispositions, coupled with the recently completed U.S. $150 million long-term financing transaction with Prudential Insurance Company of America, have significantly strengthened the corporation's capital structure." Northstar Energy Corporation is a Canadian company engaged in petroleum and natural gas exploration and production. The company's common shares are listed on the Toronto, Montreal and Alberta stock exchanges under the trading symbol NEN.

To: Kerm Yerman who wrote (9936)	4/3/1998 8:24:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Yanks Peak Resources: Proposal to Consolidate Shares VSE SYMBOL: YPR APRIL 3, 1998 VANCOUVER, BRITISH COLUMBIA--Yanks Peak Resources Ltd. (The "Company") wishes to announce that a proposal to consolidate the Company's share capital on a ten old shares for one new share basis will be presented at the Company's annual general meeting to be held April 21, 1998. The directors of the Company have determined that the consolidation is necessary for the Company to be able to attract new capital and continue operations. The Company currently has 13,961,721 shares issued and outstanding. After the proposed consolidation the issued and outstanding shares of the Company will be 1,396,172. The share consolidation is subject to shareholder and regulatory approval. In connection with the consolidation the Company will also propose that its name be changed from Yanks Peak Resources Ltd. to BHR Buffalo Head Resources Ltd. On Behalf of the Board of Directors Daniel B. Evans, Director

To: Kerm Yerman who wrote (9936)	4/3/1998 11:48:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Ridgeway Petroleum Business Plan Arrangement RIDGEWAY PETROLEUM CORP. CALGARY, April 3 /CNW/ - The Company announces, further to its news release of April 2, 1998, that it has signed a Letter Agreement with Petro Source Corporation (''Petro Source''), to jointly pursue a business plan to deliver the Company's CO(2) reserves to CO(2) floods through a pipeline, the purchase and/or engineering, finance and construction of which is to be arranged by Petro Source, and the commercial development of the helium entrained in such CO(2). The project is to be developed by Petro Source and a subsidiary of MCN Energy Group, Inc. (NYSE - MCN). The Letter Agreement is subject to execution of formal documentation. Petro Source and MCN have formed an alliance to jointly develop CO(2) projects. A Petro Source and MCN partnership is the majority owner and manager of the Val Verde CO(2) Pipeline which is currently under construction to bring new CO(2) supplies into the Permian Basin of West Texas.