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Gold/Mining/Energy : first star energy FST on the ASE -- Ignore unavailable to you. Want to Upgrade?

To: grayhairs who wrote (145)	4/24/1998 10:07:00 AM
From: Jason Krueger	Respond to of 754

I don't know about the financing, but Yorkton and Canaccord (48 and 35) are famous for shorting.

To: grayhairs who wrote (145)	4/24/1998 10:12:00 AM
From: Flea	Read Replies (2) \| Respond to of 754

It was Canacrap who did the financing.... First Star Energy Ltd - 2m unit financing First Star Energy Ltd FST Shares issued 18983832 1998-02-26 close $0.62 Thursday Feb 26 1998 Mr John Squarek reports The company has entered into a brokered private placement of up to 2,000,000 units of First Star with Canaccord Capital. Each unit will comprise of one share at $0.65 and one warrant. The warrant will entitle the holder to purchase an additional share of First Star at $0.85 per share for one year. Closing of this $1,300,000 issue is expected to take place on or about March 31 1998. First Star expects to use the proceeds for the purchase of additional P&NG leases, seismic, the re-completion of its Lochend well, participation in the drilling of its Devonian reef oil play, and participation in the drilling of an additional gas well in Kentucky. At Strachan, the ACL et al Strachan 3-22-38-9W5 well, operated by Apache Canada, is at over 1000 metres and drilling ahead, with total depth expected in about 75 days. In Kentucky, the service rig has been unable to get to the location because of the major weather problems in the area. The completion, fracture treatment and production testing of this potential gas well will begin as soon as the weather permits.