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: Herb Duncan who wrote (10200)	4/20/1998 3:31:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / IPSCO Inc. Shareholder Rights Update IPSCO INC. TSE, ASE, NYSE SYMBOL: IPS APRIL 20, 1998 IPSCO Announces Shareholder Rights Agreement Update REGINA, SASKATCHEWAN--IPSCO Inc. announced today that as a result of discussions with shareholders and as a result of comments received from certain shareholder advocate groups, it has made further amendments to its Shareholder Rights Agreement (the "Plan"),including amendments to: 1. the definition of "Beneficial Ownership" to include an exemption for lock-up agreements; 2. the definition of "Acquiring Person" such that the exemption for distributions by the Company pursuant to a prospectus or private placement is limited such that no person is permitted to become the "Beneficial Owner" of more than 25 percent of the "Voting Shares" pursuant to such a distribution without shareholder approval; and 3. the definition of "Independent Shareholders" so it is absolutely clear that shares held by investment managers who are not making a take-over bid will be counted for purposes of tendering to a "Permitted Bid" or voting on amendments to the Plan. A number of more minor amendments have also been incorporated to address comments received from these parties. All of the modifications are subject to regulatory approval. The Plan, as amended, will be presented to the shareholders at the Company's annual meeting to be held on 24 April 1998. Proxies received by the Company's registrar and transfer agent, Montreal Trust Company of Canada, prior to the commencement of the meeting will be treated as valid. This news release contains forward looking information with respect to IPSCO's operations and beliefs. Actual results may differ from these forward looking statements due to numerous factors, including those discussed in IPSCO's 1997 Annual Report for its fiscal year ended December 31, 1997.

To: Herb Duncan who wrote (10200)	4/20/1998 6:41:00 PM
From: Kerm Yerman	Respond to of 15196

EARNINGS / Vintage Resource Corp. 1997 Results VINTAGE RESOURCE CORP. ASE, TSE SYMBOL: VRU APRIL 20, 1998 Vintage Announces 1997 Results CALGARY, ALBERTA--VINTAGE RESOURCE CORP. (Vintage) is pleased to present its financial and operating results for the year ended December 31, 1997. /T/ HIGHLIGHTS -------------------------------------------------------------- 12 months 15 months Percent ended ended Change Dec. 31, 1997 Dec. 31, 1996 --------------------------------------- FINANCIAL Net Revenue (000) $ 7,829 $ 9,835 -20.4 Operating Income (000) $ 4,374 $ 6,133 -28.7 Cash Flow (000) $ 3,837 $ 5,116 -25.0 Cash Flow per share $ 0.24 $ 0.37 Net Income (000) $ 920 $ 1,660 -44.6 Net Income per share $ 0.06 $ 0.12 Capital Expenses (000) $ 3,938 $ 4,241 -7.1 OPERATIONAL Oil & NGLs Production (bbls/day) $ 494 $ 618 -20.0 Average Sale Price ($/bbl) $ 25.48 $ 25.81 -1.3 Netback ($/bbl) $ 15.89 $ 18.02 -11.8 Natural Gas Production (mcf/d) $ 4,139 $ 3,715 +11.4 Average Sale Price ($/mcf) $ 2.12 $ 1.75 +21.1 Netback ($/mcf) $ 0.92 $ 0.82 +12.2 BOE (bbl/day) $ 908 $ 990 -8.3 -------------------------------------------------------------- /T/ The primary reason for the negative change in the comparative results is that the 1996 figures are based on a 15 month period while those from 1997 are based on only 12 months. The three fewer months of operations is reflected in lower values. In general, lower production and higher operating costs for oil were offset by increased production and higher sales prices for natural gas.