Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SofaSpud who wrote (11117)	6/17/1998 2:54:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. / Hurricane Hydrocarbons Normal Course Issuer Bid CALGARY, June 16 /CNW/ - Hurricane Hydrocarbons Ltd. has announced today that The Toronto Stock Exchange has accepted a notice filed by the Corporation of its intention to make a normal course issuer bid. The notice provides that the Corporation may, during the 12-month period commencing June 19, 1998 and ending June 19, 1999, purchase on The Toronto Stock Exchange up to 4,004,937 Class A common shares (the ''Common Shares'') being 10% of the ''public float''. The price, which the Corporation will pay for any such shares, will be the market price at the time of acquisition. The actual number of Common Shares which may be purchased and the time of any such purchases will be determined by the Corporation. There are approximately 44,459,259 Common Shares of the Corporation outstanding with the public float amounting to approximately 40,049,375 Common Shares. Upon repurchase, all such Common Shares shall be cancelled. The Common Shares may also be purchased by the Corporation on The Nasdaq National Market. The Corporation believes that its Common Shares have been trading in a price range which does not adequately reflect their value in relation to the Corporation's business and its future business prospects. As a result, depending upon future price movements and other factors, the Corporation believes that its outstanding Common Shares may represent an attractive investment and a desirable use of a portion of its available funds. Hurricane Hydrocarbons Ltd. is an independent energy corporation engaged in the acquisition, exploration, development and production of oil, principally in the Republic of Kazakhstan. The Corporation's shares are listed on The Alberta Stock Exchange, The Toronto Stock Exchange (''TSE'') under the trading symbol ''HHL.A'' and are quoted for trading on The Nasdaq National Market under the symbol ''HHLAF''. Hurricane is a member of the TSE 300 and TSE 200 Composite Indexes.