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

To: Arnie who wrote (9996)	4/7/1998 8:24:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / AC Energy Inc. - Exploration Update ASE SYMBOL: ACE APRIL 7, 1998 CALGARY, ALBERTA--AC Energy Inc. (ASE-ACE) with its partners Peregrine Oil and Gas Ltd. and Plexus Energy Ltd. jointly wish to announce the completion of an exploration well drilled on the Madden prospect in Oklahoma as an oil well. The well follows a 3-D seismic survey that identified a Wilcox Sand structure. Peregrine Oil and Gas Ltd. is the operator of the well. Within the Wilcox Formation, the well log calculations give oil play thickness estimated at 10 feet in the 1st Bromide, 19 feet in the Upper Tulip Creek, 18 feet in the Lower Tulip Creek and 8 feet in the McLish, for a total of 55 feet of oil pay. The lowest zone, the McLish sand, has been production (swab) tested through perforations at a rate of 145 barrels of 36 degree API sweet crude oil per day. The well will be placed on production immediately upon completion of surface facility installations. This new production is anticipated to significantly raise AC Energy's total production. Following good production practices, the oil reservoirs will be produced starting at the lower zone first, being the McLish, then progressively higher to the upper most sand, being the 1st Bromide. AC Energy, Peregrine and Plexus are junior oil and gas companies listed on The Alberta Stock Exchange with shares trading under the symbols "ACE", "PGG" and "PXU" respectively. Peregrine has a 43.75 percent working interest, Plexus Energy Ltd. has 43.75 percent and AC Energy Ltd. has the remaining 12.5 percent in the play.

To: Arnie who wrote (9996)	4/7/1998 8:25:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Barrington Issues Natural Gas Linked Subordinated Notes TSE SYMBOL: BPL.W TSE, ME SYMBOL: BPL APRIL 7, 1998 CALGARY, ALBERTA-- Barrington Petroleum Ltd. announces an agreement with a group of underwriters, led by CIBC Wood Gundy Securities Inc. and Nesbitt Burns Inc., to issue $50 million principal amount of Natural Gas Linked Subordinated Notes on a "bought deal" basis. The issue will be offered in all provinces of Canada, except New Brunswick, Newfoundland and Prince Edward Island. The notes will pay interest quarterly and will bear interest at a base rate of 1.625 percent per quarter (6.5 percent per annum) plus an upside participation rate that is dependent upon the average quarterly price of natural gas in excess of $2.00/Gj in Alberta at the AECO-C hub. The quarterly upside participation rate will be capped at 1.375 percent per quarter (5.5 percent per annum) which would occur if the price of natural gas averages $2.69/Gj or higher for the entire quarter. The notes will mature in approximately five years from closing and Barrington will have the option of paying the principal amount due at maturity in common shares in lieu of cash. The notes will be subordinate to all existing and future senior indebtedness of Barrington. Following recent completion of a successful winter drilling program, Barrington is directing the majority of 1998 capital expenditures toward increasing its natural gas reserves and production. The funds raised from this issue will allow the company to increase its holdings in exploration areas and to accelerate the development of natural gas reserves in established core areas through drilling, tie-ins and the installation of facilities. In addition, a significant component of the company's 1998 program involves the consolidation of holdings in core areas through a combination of cash purchases and property exchanges. Last week, Barrington and a senior producer completed an asset exchange that makes Barrington the largest owner of the Paddle River gas plant servicing the company's Greencourt/Paddle River project. The company expects that further asset exchanges and acquisitions will be completed over the remainder of the year. Barrington views this innovative financing as an opportunity to maintain an aggressive capital expenditure program during a period of low crude oil prices without excessive risk or dilution of share value. Barrington will file a preliminary short form prospectus in respect of the note issue as soon as possible. Subject to the receipt of all required approvals, the offering is expected to close in late April or early May 1998. Barrington Petroleum Ltd. is an intermediate Calgary-based natural gas and oil producer with operations in Alberta and Saskatchewan. The company's primary emphasis is natural gas and natural gas liquids exploration and production. At 1997 year-end, proved and probable natural gas reserves totalled 292.3 billion cubic feet and associated proved and probable natural gas liquids reserves were 2.7 million barrels. Barrington's shares are listed on The Toronto Stock Exchange and The Montreal Exchange (trading symbol "BPL"). This release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

To: Arnie who wrote (9996)	4/7/1998 8:27:00 PM
From: Herb Duncan	Respond to of 15196

EARNINGS / BXL Announces 1997 Results ASE SYMBOL: BXL APRIL 7, 1998 CALGARY, ALBERTA--BXL Energy Ltd. is pleased to report its operating and financial results for the year ended December 31, 1997 with comparatives: /T/ Year ended December 31 ---------------------- Percent Highlights 1997 1996 Change ---- ---- ------- Operating Average daily production Oil and NGLs (barrels - bbls) 151 143 6 Natural gas as (thousand cubic ft. - mcf) 2,404 478 403 Equivalent barrels (10 mcf equals 1 boe) 391 191 105 Average selling prices Oil and NGLs ($/bbl) 26.14 28.36 (8) Gas ($/mcf) 1.73 1.69 2 Operating netbacks Oil and GLS ($per bbl) 16.11 13.34 21 Natural gas ($ per mcf) 0.82 1.02 (20) Barrels of oil equivalent ($ per boe) 11.26 12.52 (10) Financial ($000's except per share amounts) Oil and gas sales 2,963 1,775 67 Gas management contract fees 112 946 (88) Cash flow from operations 1,133 1,349 (16) Per share 0.06 0.09 (33) Net earnings (loss) (111) 571 (119) Per share (0.01) 0.04 (125) Capital investment 6,047 4.258 42 /T/ BXL's 1997 average daily production more than doubled compared to 1996, a direct result of a four fold increase in natural gas production. Combined production averaged 391 boe's per day in 1997 as compared to 191 boe's per day in 1996. Natural gas production jumped to 2,404 mcf per day in 1997 from 478 mcf per day in 1996. Oil and natural gas liquids (NGLs) production averaged 151 bbls per day in 1997, a 6 percent increase over the 143 bbls per day produced during the prior year. Fourth quarter 1997 production averaged 468 boe's per day. The Company expects first quarter 1998 production to average 700 boe's per day, evenly split between oil and NGLs and natural gas. The average price BXL received per barrel of oil and NGL declined 8 percent in 1997 to $26.14 (1996 - $28.36 per bbl) whereas natural gas prices increased 2 percent to $1.73 per mcf (1996 - $1.69 per mcf). Oil and NGLs operating netbacks climbed 21 percent in 1997 to $16.11 per barrel (1996 - $13.34 per barrel) and natural gas netbacks fell 20 percent to $0.82 per mcf (1996 - $1.02 per mcf). On a boe basis, 1997 operating netbacks were $11.26 per boe, a 10 percent decline from the $12.52 recorded in 1996. During 1997, BXL drilled 10 (2.8 net) wells and recompleted 3 (1.7net) wells resulting in 5 (2.0 net) oil wells and 6 (2.1 net) gas wells. Capital expenditures for 1997 totalled $6.05 million as compared to $4.26 million in 1996. The 1997 figure includes drilling and completion expenditures of $2.34 million and an additional $2.48 million was invested in production equipment and facilities. Asset dispositions totalled $617,000 during 1997 as the Company focused its operations entirely in Alberta. Oil and gas sales climbed 67 percent to $2.96 million in 1997 (1996 - $1.77 million). After deducting royalties and production expenses, net oil and gas revenues were up 84 percent to $1.61 million in 1997 (1996 - $874,000). The operational gains were offset by an 88 percent decline in gas management contract fees to $112,000 in 1997 from $946,000 in 1996. As a result, BXL's cash flow from operations slipped 16 percent to $1.13 million ($0.06 per share) in 1997 from $1.35 million ($0.09 per share) in 1996. BXL recorded a net loss of $111,000 ($0.01 per share) in 1997 compared to net earnings of $571,000 ($0.04 per share) in 1996. BXL Energy Ltd. is engaged in the acquisition, exploration, development and production of oil and gas reserves in western Canada. BXL is listed on the Alberta Stock Exchange and has approximately 19.9 million common shares outstanding.

To: Arnie who wrote (9996)	4/7/1998 8:28:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Peregrine Oil and Gas - Exploration Update ASE SYMBOL: PGG APRIL 7, 1998 CALGARY, ALBERTA--Peregrine Oil and Gas Ltd. (ASE-PGG) with its partners, Plexus Energy Ltd. and A.C. Energy Ltd. jointly wish to announce the completion of an exploration well drilled on the Madden prospect in Oklahoma as an oil well. The well follows a 3-D seismic survey that identified a Wilcox Sand structure. Within the Wilcox Formation, the well log calculations give oil pay thickness estimated at 10 feet in the 1st Bromide, 19 feet Upper Tulip Creek, 18 feet in the Lower Tulip Creek and 8 feet in the McLish, for a total of 55 feet of oil pay. The lowest zone, the McLish sand has been production (swab) tested through perforations at a rate of 145 barrel of 36 degree API sweet crude oil per day. The well will be placed on production immediately upon completion of surface facility installations. Following good production practices, the oil reservoirs will be produced starting at the lower zone first, the McLish at 8923 ft., then progressively high to the upper most sand being the 1st Bromide at 8460 ft. Peregrine, Plexus and A.C. Energy are junior oil and gas companies listed on the Alberta Stock Exchange with shares trading under the symbols "PGG", "PXU", and "ACE" respectively. Peregrine has a 43.75 percent working interest, Plexus Energy Ltd. has 43.75 percent and A.C. Energy Ltd. has the remaining 12.5 percent in the play.

To: Arnie who wrote (9996)	4/7/1998 8:31:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Plexus Energy - Exploration Update ASE SYMBOL: PXU APRIL 7, 1998 CALGARY, ALBERTA--Plexus Energy Ltd. (ASE-PXU) with its partners, Peregrine Oil and Gas Ltd. and A.C. Energy Ltd. jointly wish to announce the completion of an exploration well drilled on the Madden prospect in Oklahoma as an oil well. The well follows a 3-D seismic survey that identified a Wilcox Sand structure. Within the Wilcox Formation, the well log calculations give oil pay thickness estimated at 10 feet in the 1st Bromide, 19 feet Upper Tulip Creek, 18 feet in the Lower Tulip Creek and 8 feet in the McLish, for a total of 55 feet of oil pay. The lowest zone, the McLish sand has been production (swab) tested through perforations at a rate of 145 barrel of 36 degree API sweet crude oil per day. The well will be placed on production immediately upon completion of surface facility installations. Following good production practices, the oil reservoirs will be produced starting at the lower zone first, the McLish at 8923 ft., then progressively high to the upper most sand being the 1st Bromide at 8460 ft. Plexus, Peregrine and A.C. Energy are junior oil and gas companies listed on the Alberta Stock Exchange with shares trading under the symbols "PXU", "PGG", and "ACE" respectively. Plexus has a 43.75 percent working interest, Peregrine Oil and Gas Ltd. has 43.75 percent and A.C. Energy Ltd. has the remaining 12.5 percent in the play.