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

To: Herb Duncan who wrote (11122)	6/8/1998 11:42:00 AM
From: SofaSpud	Respond to of 15196

PIPELINES / TCPL Awards Contract TRANSCANADA AWARDS MAJOR CONSTRUCTION CONTRACTS ÿÿÿ CALGARY, June 8 /CNW/ - TransCanada PipeLines Limited announced today that it has awarded $430 million in pipeline maintenance, looping and compressor station construction contracts which will provide regional employment opportunities in 1998 and supply customer-driven pipeline capacity additions. ÿÿÿ More than $309 million in pipeline maintenance and looping contracts, which will include more than 300 kilometres of new large diameter pipeline being installed between June and November of 1998, were awarded to Marine Pipeline, O. J. Pipelines, Robert B. Somerville and a joint venture led by Steen Contractors Ltd. In addition, more than $120 million in compressor station construction and maintenance work was awarded to contractors Adam Clark Company, BFC-Nicholls Radtke, Campbell-Cox Inc.,ÿ Comstock Canada Ltd., Ganotec Industriel, State Group Limited and Venshore Mechanical Ltd.ÿ These companies will provide unit additions, construction enhancements and upgrades to 13 of TransCanada's 57 compressor stations located across its 14,492-kilometre Canadian Mainline system. ÿÿÿ ''Awarding these contracts should lead to solid regional employment opportunities and should provide significant economic benefits to the regions in which we do business,'' said Bob Reid, president, Canadian Mainline. ''These improvements are aimed at providing additional pipeline capacity and operational flexibility for our customers.'' ÿÿÿ TransCanada's summer construction and maintenance program is part of the company's 1998 overall plan to benefit customers and producers through an estimated mainline volume increase of 417 million cubic feet (MMcf) per day. By November 1998, TransCanada expects that it will have expanded its delivery capacity by about 900 MMcf per day since November 1996. ÿÿÿ TransCanada PipeLines Limited is one of North America's leading energy services companies.ÿ 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. ÿÿÿ << ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 1998 EXPANSION FACTS ÿÿÿ Total Volumesÿÿÿÿÿÿÿ 417 MMcf/d ÿÿÿ ------------------------------- ÿÿÿ Eastern Canadaÿÿÿÿÿÿÿ 59 MMcf/d (14%) ÿÿÿ U.S.ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 358 MMcf/d (86%): ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ U.S. mid-westÿÿÿÿ 171 MMcf/d (48%) ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ U.S. northeastÿÿÿ 187 MMcf/d (52%) ÿÿÿ Increase over 1997 volumesÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Increase from 1997 ÿÿÿ ------------------------------------------------------------- ÿÿÿ 1997 volumesÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 6.9 Bcf/d ÿÿÿ 1998 estimated volumesÿÿÿÿÿÿ 7.3 Bcf/dÿÿÿÿ 417 MMcf/d (5.7%) ÿÿÿ Summer Pipeline Construction Programs ÿÿÿ ------------------------------------- ÿÿÿ Total 1998:ÿÿÿ 308.4 km ÿÿÿ ----------------------- ÿÿÿ Saskatchewan/Manitoba (157 km)ÿÿÿÿÿÿÿÿÿÿÿÿ Marine Pipeline ÿÿÿ Northern Ontario (70.9 km)ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ O.J. Pipelines ÿÿÿ Southern Ontario (87.2 km)ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Joint Venture led by ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Steen Contractors ÿÿÿ Pipeline Maintenance ÿÿÿ -------------------- ÿÿÿ Saskatchewan/Manitobaÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Marine Pipeline ÿÿÿ Ontarioÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Somerville ÿÿÿ Summer Compressor Station Construction ÿÿÿ -------------------------------------- ÿÿÿ Provinceÿÿÿÿÿÿÿÿÿÿÿÿ MWÿÿÿÿÿÿÿÿÿÿÿÿÿ Stationÿÿÿÿÿÿÿÿÿÿÿÿ Contractor ÿÿÿ --------ÿÿÿÿÿÿÿÿÿÿÿÿ --ÿÿÿÿÿÿÿÿÿÿÿÿÿ -------ÿÿÿÿÿÿÿÿÿÿÿÿ ---------- ÿÿÿ Saskatchewan:ÿÿÿÿÿ 2 (30 MW)ÿÿÿÿÿÿÿÿ Burstall, Caronÿÿÿÿ Comstock ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Adam Clark ÿÿÿ Manitobaÿÿÿÿÿÿÿÿÿÿ 1 (28.3 MW)ÿÿÿÿÿÿ Spruceÿÿÿÿÿÿÿÿÿÿÿÿÿ Comstock, ÿÿÿ Ontarioÿÿÿÿÿÿÿÿÿÿÿ 4 (28.3 MW)ÿÿÿÿÿÿ Kenoraÿÿÿÿÿÿÿÿÿÿÿÿÿ Venshore ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Upsalaÿÿÿÿÿÿÿÿÿÿÿÿÿ Adam Clark ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Geraldton, Kapuskasingÿÿÿÿ Comstock ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 1 (30 MW)ÿÿÿÿÿÿÿÿ Swastikaÿÿÿÿÿÿÿÿÿÿÿ Comstock ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 1 (10.4 MW)ÿÿÿÿÿÿ Kirkwallÿÿÿÿÿÿÿÿÿÿÿ BFC ÿÿÿ Quebecÿÿÿÿÿÿÿÿÿÿÿÿ 2 (6.3 MW)ÿÿÿÿÿÿÿ Les CŠdresÿÿÿÿÿÿÿÿÿ Ganotec ÿÿÿ Total 1998 Capital Costsÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ $825 million ÿÿÿ ------------------------ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ------------ ÿÿÿ Saskatchewanÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ $195 million ÿÿÿ Manitobaÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ $105 million ÿÿÿ Ontarioÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ $495 million ÿÿÿ Quebecÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ $30 million ÿÿÿ Total Estimated Economic Benefits ÿÿÿ --------------------------------- ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Construction Jobsÿÿÿÿ Economic ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Person Daysÿÿÿÿÿÿÿÿ Created(x)ÿÿÿÿÿÿÿ Spin-off(xx) ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ -----------ÿÿÿÿ -----------------ÿÿÿÿ ------------ ÿÿÿ Saskatchewanÿÿÿÿÿÿÿÿÿÿÿ 52,000ÿÿÿÿÿÿÿÿÿÿÿÿÿ 220ÿÿÿÿÿÿÿÿÿÿÿÿ $410 million ÿÿÿ Manitobaÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 26,000ÿÿÿÿÿÿÿÿÿÿÿÿÿ 110ÿÿÿÿÿÿÿÿÿÿÿÿ $220 million ÿÿÿ Ontarioÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 142,000ÿÿÿÿÿÿÿÿÿÿÿÿÿ 590ÿÿÿÿÿÿÿÿÿÿÿ $1.04 billion ÿÿÿ Quebecÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 7,000ÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 30ÿÿÿÿÿÿÿÿÿÿÿÿÿ $63 million ÿÿÿ >> ÿÿÿ Construction, service and supply jobs created, based on $430 million: ÿÿÿ 2,150(xxx) ÿÿÿ (x)ÿÿ These estimated jobs represent a construction job held for one ÿÿÿÿÿÿÿÿÿ year. ÿÿÿ (xx)ÿ These figures are calculated using a standard national multiplier ÿÿÿÿÿÿÿÿÿ of 2.1. This represents the level of economic activity anticipated ÿÿÿÿÿÿÿÿÿ to be created in each province as a result of the capital ÿÿÿÿÿÿÿÿÿ investment in pipeline construction. ÿÿÿ (xxx) Estimate based on 50 positions created for every $10 million in ÿÿÿÿÿÿÿÿÿ capital spent. ÿÿÿ Key:ÿ Bcf/d: billion cubic feet per dayÿÿÿÿÿÿÿÿÿÿÿ MW:ÿ megawatts ÿÿÿÿÿÿÿÿÿ MMcf/d: million cubic feet per dayÿÿÿÿÿÿÿÿÿÿ km:ÿ kilometres ÿÿÿ Visit TransCanada's internet site: transcanada.com ÿÿÿ -0-ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 06/08/98 For further information: Gary Davis, TransCanada Pipelines, (403) 267-3340

To: Herb Duncan who wrote (11122)	6/8/1998 1:12:00 PM
From: SofaSpud	Read Replies (2) \| Respond to of 15196

FIELD ACTIVITIES / Circle Energy ties in well CIRCLE ENERGY INC. ANNOUNCES BRAZEAU RIVER SHUNDA WELL ON PRODUCTION CALGARY, June 8 /CNW/ - Circle Energy's Brazeau River Shunda well located at 13-15-48-12 W5M is tied-in and on production today. We expect initial flow rates up to 6 million cubic feet of natural gas per day (Circle's share is 41.5%) and we expect to increase to full production by mid-summer. As previously announced, Circle has recently acquired 39.55% of the Shunda rights on two adjacent sections which has the potential to significantly increase reserves and cash flow. Drilling options are presently under review. The Brazeau River Nisku well has been re-scheduled for July due to weather related road conditions. Circle Energy Inc. is a petroleum and natural gas exploration company that holds oil and gas leases in the Brazeau, Waskatenau and Morinville areas of Central Alberta and in Guadalupe, Lea and Quay Counties in New Mexico, USA. The Company's shares trade on The Alberta Stock Exchange under the symbol CEN. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. .-30- For further information: Bill Baker, President, or Gord Robinson, V.P. Operations, Circle Energy Inc., (403) 777-1925