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

To: Herb Duncan who wrote (11020)	5/30/1998 7:11:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Odessa Petroleum: Incentive Stock Options VSE SYMBOL: OPC MAY 29, 1998 VANCOUVER, BRITISH COLUMBIA--Subject to approval of the Vancouver Stock Exchange, the Company has granted to employees and directors 340,000 incentive stock options, exercisable for a term of five (5) years, at a price of $0.78 per share, being set above the average closing price of the Company's shares during the preceding ten trading days. The Company, subject to regulatory approval, will reset the number and exercise price of stock options previously granted to its Directors, decreasing the number of options by 350,000 and resetting the exercise price from $1.50 to $0.78. These aforementioned options will be exercisable at any time up to and including the 5th day of February, 2002, being five (5) years from the date of the original grant of these options. As at March 31, 1998, the Company had 1.21 million incentive stock options outstanding. Events subsequent to March 31, 1998, including the changes outlined above, reduces the total number of options outstanding to 835,200. Shares Issued: 15,013,254 52 Week High-Low: $0.70 - $1.85 ON BEHALF OF THE BOARD OF DIRECTORS, Peter P. Tsaparas, P. Eng., Chairman and Director

To: Herb Duncan who wrote (11020)	6/1/1998 11:28:00 AM
From: SofaSpud	Respond to of 15196

ENERGY TRUSTS / TransCanada plans new LP TRANSCANADA REORGANIZES GAS PROCESSING INTERESTS, PLANS PUBLIC OFFERING CALGARY, June 1 /CNW/ - TransCanada PipeLines Limited today announced the creation of a limited partnership, TransCanada Gas Processing, L. P. (the partnership), and the partnership's proposed offering of limited partnership units to the public. At present, TransCanada holds various ownership interests in five natural gas gathering and processing facilities and all related agreements in Alberta and Saskatchewan. Using proceeds from the offering, the partnership will acquire an indirect 75 per cent interest in the facilities, while TransCanada will retain the remaining 25 per cent. After 20 years, TransCanada will reacquire the facilities at their fair market value for cash or shares of TransCanada. ''It's a good deal for both TransCanada and investors,'' said George Watson, TransCanada president and chief executive officer. ''TransCanada will recapitalize these Canadian gas processing investments in a very efficient manner and investors will receive attractive returns and tax treatment,'' he said. The facilities include all of TransCanada's interests in the Cutbank, Enchant, Freefight and Crane Lake/Maple Creek, Talbot Lake and Columbia-Minehead gas processing and gathering systems. These facilities have a 1998 forecast total average daily throughput of 166 million cubic feet per day of natural gas. A preliminary prospectus has been filed with the securities commissions in each of the provinces of Canada and it is expected the limited partnership units will be sold in June, with terms reflecting market conditions at the time. The offering will be led by Nesbitt Burns Inc., and the units will be available only to Canadian residents. TransCanada PipeLines Limited is one of North America's leading energy services companies. TransCanada manages its Cdn$15 billion asset base to provide integrated energy transmission, energy marketing and energy processing solutions to customers in North America and, to an increasing degree, internationally. Common shares trade under the symbol TRP, primarily on the Toronto, Montr‚al and New York stock exchanges. Visit TransCanada's website at: transcanada.com %SEDAR: 00001704E -30- For further information: Tony McCallum, (403) 267-8524