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

To: Arnie who wrote (10745)	5/16/1998 12:22:00 AM
From: Kerm Yerman	Respond to of 15196

INVESTMENT / Ranger Oil Shares Purchased By Templeton TEMPLETON PURCHASE OF SECURITIES OF RANGER OIL LTD. TORONTO, May 15 /CNW/ - Templeton Management Limited, a corporation incorporated under the laws of the Province of Ontario, on its own behalf and on behalf of its affiliates, Templeton Global Advisors Limited, a Bahamian corporation, Templeton Investment Counsel, Inc., a Florida corporation, Templeton/Franklin Investment Services, Inc., a Delaware corporation, Templeton Investment Management Limited, a U.K. corporation and Franklin Advisers, Inc., a California corporation (the ''Franklin/Templeton Affiliates'') announced today that various investment funds and institutional accounts for which Templeton Affiliates serve as investment advisor have, in transactions on the Toronto Stock Exchange and the New York Stock Exchange completed on May 14, 1998, purchased 50,000 shares of Ranger Oil Ltd. The shares, together with previously acquired shares, represent 10.16% of the issued shares of such class. These purchases have been made for investment purposes. Investment funds and institutional accounts managed by Templeton may, subject to market conditions, make additional investments in or dispositions of securities of Ranger Oil Ltd. in the future. Templeton does not, however, intend to acquire 20% of the outstanding securities of any class of Ranger Oil Ltd.