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

To: Herb Duncan who wrote (10937)	5/28/1998 4:19:00 AM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

MERGERS-ACQUISITIONS / Tappit Resources Ltd. Announces Acquisition Agreement for Goal Energy Inc. ASE SYMBOL: TPT MAY 27, 1998 REGINA, SASKATCHEWAN--Tappit Resources Ltd. ("Tappit") today announced that its Board and the Board of Goal Energy Inc. ("Goal") have reached an agreement (the "Agreement") for the acquisition by Tappit of all of the issued and outstanding shares of Goal. The Board of Goal has unanimously approved the acquisition and has agreed to recommend the Tappit offer to Goal shareholders. Tappit is offering for each common share of Goal, at the election of the shareholders of Goal: (i) $0.08 in cash and 0.75 of a common share of Tappit; or (ii) one common share of Tappit. The offer represents a 49 percent to 50 percent (depending on which alternative is chosen) premium to the Goal share closing price of $0.22 on May 18, 1998, being the last trading date of the common shares of Goal prior to the announcement of the Agreement. All of the directors, officers and two shareholders of Goal, have agreed to tender and not withdraw, except in certain circumstances, a minimum of 6,294,111 (26.7 percent) of the shares of Goal to Tappit pursuant to its offer. Tappit expects to mail its offer within the next two business days. The tender period will last twenty-one days unless extended by Tappit and its subject to normal regulatory approvals. Tappit is a junior oil and gas company involved in the acquisition, exploration, development and production of crude oil and natural gas in Western Canada. Tappit's shares trade on The Alberta Stock Exchange under the symbol "TPT"