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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (5066)	5/13/1998 4:11:00 PM
From: Scott Mc	Read Replies (1) \| Respond to of 24921

NTO, being acquired..This is another one of my small oils being acquired in the last year(ORB,SDX,ARC,BDX(sort of)). Scott Southern Mineral to acquire Neutrino Neutrino Resources Inc NTO Shares issued 24,760,701 May 12 close $1.41 Wed 13 May 98 News Release Mr. James Price reports The company and Southern Mineral of Houston have signed a definitive agreement for the acquisition of the company by Southern for cash consideration of $1.80 per share. Total cash consideration is estimated to be $57.4-million. In addition, Southern would be assuming the company's bank debt and working capital deficiency, which was approximately $21.5-million as of March 31, 1998. The transaction has been approved by the board of directors of both companies. Southern has indicated its desire to retain the current employees and management of the company. The definitive agreement embodies a lock-up arrangement with officers, directors and significant shareholders. The company has agreed to a breakup fee representing 5 per cent of the total consideration available to shareholders. Closing is scheduled by June 30, 1998. Based on independent engineering evaluations, the company's total proved reserves as of Jan. 1, 1998 were 37.4 billion cubic feet of natural gas and 6,146,000 barrels of oil and natural gas liquids for a total of 74.3 billion cubic feet equivalent (oil and liquids are converted to gas at 6,000 cubic feet for each barrel). The proposed transaction would increase Southern's total proved reserves by 78 per cent from an end of the first quarter internal estimate of 94.8 billion cubic feet equivalent to 169 billion cubic feet equivalent. During fourth quarter 1997, Neutrino produced an average of 12.4 million cubic feet of natural gas and 2,020 barrels of oil and natural gas liquids per day for a total of 24.5 million cubic feet equivalent of daily production. The proposed acquisition would increase Southern's daily production to more than 50 million cubic feet equivalent. The proposed acquisition also increases Southern's undeveloped land holdings in Canada by more than 400 per cent from 14,695 net acres to 74,670 net acres. Neutrino also holds an extensive data base of two and three dimensional seismic. Southern Mineral is an oil and gas acquisition, exploration and production company that owns interests in oil and gas properties along the Gulf Coast, Mid-Continent, Canada and Ecuador. Southern is listed on Nasdaq under the symbol SMIN. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: Kerm Yerman who wrote (5066)	5/16/1998 9:28:00 PM
From: Darwyn Petras	Read Replies (2) \| Respond to of 24921

Kerm, I recall seeing you take on Startech Energy in your top 20 last week. I recall talking to some people in Southern Sask who thought they had some good things going in the area. I believe your recommendation was around Cdn 5.90 with a 52 week low of around 5.10 and high of around 19.00. Was Friday's heavy volume 880 M shares and .45 cent drop attributable to any news made public ? Thanks in advance and kudos to you , Arnie, Bev et al in the Korner.