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

To: Herb Duncan who wrote (11018)	5/30/1998 7:00:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Arthur L. Smith Resigns from Pioneer Board, Accepts Position with Torch Energy NYSE, TSE SYMBOL: PXD MAY 29, 1998 DALLAS, TEXAS--Pioneer Natural Resources Company ("Pioneer")(NYSE-PXD)(TSE-PXD.) announced today that Arthur L. Smith, a member of the Board of Directors, has resigned as a result of accepting the position of Chairman and CEO with Torch Energy Advisors Incorporated. Jon Brumley, Chairman, said, "Our shareholders and employees are grateful to Art for his faithful service and commitment to excellence. We wish him success in his new endeavor." Headquartered in Dallas, Pioneer is one of the largest independent (non-integrated) exploration and production oil and gas companies in North America, with major operations in the United States, Canada and Argentina.

To: Herb Duncan who wrote (11018)	6/1/1998 11:25:00 AM
From: SofaSpud	Respond to of 15196

ENERGY TRUSTS / Morrison Facilities Income Fund Manager MORRISON FACILITIES INCOME FUND ANNOUNCES NEW MANAGER TORONTO, June 1 /CNW/ - Morrison Facilities Income fund (the ''Fund'') and the Board of Directors of Nevis Ltd. are pleased to announce the appointment of Western Facilities Management Limited (''Western'') as Manager of Nevis Ltd. and Administrator of the Fund effective today. Subject to regulatory approval, Western will assume responsibility as operator for all of the assets of Nevis Ltd. on July 1, 1998. Western is part of the Middlefield Group of companies (''Middlefield''). Middlefield provides management and administrative services, investment advisory and portfolio management services to a wide range of clients including pension funds, financial institutions, corporations and individuals. Since 1983, Middlefield has invested, financed and managed assets in the oil and gas industry totalling more than $500 million. Middlefield provides management services to a number of public vehicles including Morrison Middlefield Resources Limited, an oil and gas company with operations in Western Canada and the United Kingdom; and Middlefield Bancorp Limited, a merchant banking firm. The agreements between the Fund and Western more directly align management and operator fees with the underlying distributions to the unitholders. Initially, this will result in lower costs to the fund. Western will employ the existing personnel who operate the assets of Nevis and the Fund. This will provide continuity to the ongoing operation of the pipelines and gas processing facilities. Western plans to engage an independent engineering firm to undertake a complete study of operations at the Nevis gas plant and related facilities. The scope of the study will include a complete review of operations, processes and equipment with a view to implementing those recommendations which are believed to benefit the long term interests of the unit holders. Morrison Facilities Income Fund is listed on the Toronto Stock Exchange under the symbol FND.UN. -30- For further information: Raymond R. Pether, President and CEO, Nevis Ltd.; Ken Woolner, Chief Operating Officer, Nevis Ltd.