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

To: Kerm Yerman who wrote (11140)	6/9/1998 12:18:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. / Backer Petroleum Announces Dividend On Preferred Shares BACKER PETROLEUM CORP. - ANNOUNCEMENTS Date: 6/3/98 4:43:06 PM Stock Symbol: Preferred Dividend Declared... At the May 26, 1998 Directors' Meeting, a dividend was declared on the Preferred Shares of Backer, in the amount of $0.50 per share, payable on June 18, 1998 to shareholders of record at the close of business on June 3, 1998. There are 59,281 Preferred Shares outstanding at current date. Loan... On May 29, 1998, the Vancouver Stock Exchange accepted for filing a Loan Agreement effective March 31, 1998 between Backer and its parent company, AME Resource Capital Corp., pursuant to which the AME is authorized to lend to Backer up to $500,000, secured by a second charge debenture, bearing interest at a rate of 12% per annum, of which $250,000 has been advanced. Property Acquisitions... The Toronto Stock Exchange has accepted for filing a March 6, 1998 Agreement whereby Backer has purchased certain assets, including oil and gas producing properties in the Knob Hill and Sylvan Lake, Alberta area, for a purchase price of $475,000. Backer intends to complete a July 31, 1998 acquisition in the Queenstown area of southern Alberta for $1,140,000 and concurrently sell its working interests at Long Coulee and Little Bow, Alberta for $540,000.

To: Kerm Yerman who wrote (11140)	6/9/1998 12:24:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Willow Creek Exploration Agrees To 25% Interest in Mississippi Well WILLOW CREEK EXPLORATION LTD. - ANNOUNCEMENT Date: 6/3/98 12:16:41 PM Stock Symbol: WCE Willow Creek Exploration Ltd. ("Willow Creek") announces that it has agreed to participate for its 25% working interest in the Johnny Rhodes 7-6 well in the Pelahatchie Field, Rankin County, Mississippi. The location is a 40 acre offset to recent drilling success by an outside operator on the north end of the field, where initial production rates in excess of 200 barrel of oil per day from the initial completion zones have been experienced. The Johnny Rhodes 7-6 well is expected to encounter at least 6 zones with excellent reservoir potential in the Lower Cretaceous, while drilling to a depth of 11,500 feet. The well is scheduled to spud by June 15,and will take approximately 3 weeks to drill. In addition, the operator of the field, currently drilling a deeper-pool test in which Willow Creek is not involved, has reported encountering multiple oil and gas shows (13), on mud logs, while penetrating the Lower Cretaceous section. Willow Creek retains the right to participate in any future completion attempts in these zones by paying its 25% share.

To: Kerm Yerman who wrote (11140)	6/9/1998 12:29:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Oilexco Inc. Drilling Update OILEXCO INCORPORATED - VOCATION/JURASSIC PARK PROJECT UPDATE Date: 6/2/98 6:02:27 PM Stock Symbol: OIL Oilexco Incorporated announces that it has run production casing to a depth of 14,500 feet on its second well at Vocation/Jurassic Park project in Monroe County, Alabama. Production testing of the Smackover Formation will commence shortly upon perforating the well. Oilexco maintains a 12.5% working interest in this well and 12,200 gross acres (1,525 net) in the project area. Through the interpretation of a 30 square mile 3-D seismic survey, several additional locations have been identified.