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

To: Herb Duncan who wrote (11042)	6/1/1998 8:44:00 PM
From: Herb Duncan	Respond to of 15196

EARNINGS / CALGARY, ALBERTA--Centurion Energy announces results of its operations for the quarter ended March 31, 1998: TSE SYMBOL: CUX JUNE 1, 1998 Centurion Energy - 1998 First Quarter Results /T/ Qtr. Ended Qtr. Ended March 31/98 March 31/97 FINANCIAL: Oil and gas sales, net of royalties $2,555,000 $5,104,000 Net Income for the period $ 252,000 $1,570,000 Per share, basic $ 0.01 $ 0.03 Cash flow for the period $1,086,000 $2,994,000 Per share, basic $ 0.025 $ 0.06 PRODUCTION: Tunisia Canada Total Qtr. Ended Qtr. Ended Qtr. Ended 03-31 03-31 03-31 03-31 03-31 03-31 1998 1997 1998 1997 1998 1997 -------------------------------------------- Q1 Exit (boepd) 4,100 1,558 - 1,053 4,100 2,611 Q1 Average (boepd) 1,709 1,558 - 1,053 1,709 2,611 Total Production (mboe) 153.9 140.2 - 94.8 153.9 235.0 /T/ In spite of low oil prices during the period, the quarter ended March 31, 1998 was profitable for the company.

To: Herb Duncan who wrote (11042)	6/2/1998 10:57:00 AM
From: SofaSpud	Respond to of 15196

CORP. / Gulf Announces Dividend GULF CONFIRMS MAY 1998 DIVIDEND RATE FOR SERIES 1 PREFERENCE SHARES CALGARY, June 1 /CNW/ - Gulf Canada Resources Limited today announced that the dividend rate for the month of May 1998 for Gulf Canada Resources Limited's Fixed/Adjustable Rate Senior Preference Shares, Series 1, has been calculated at $0.022 per share. The dividend is payable June 12, 1998 to shareholders of record at the close of business on May 29, 1998 -30- For further information: Investor Relations / Public Affairs, (303) 813-3800 GULF CANADA