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

To: Kerm Yerman who wrote (11141)	6/9/1998 12:33:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Alliance Energy Drilling Update ALLIANCE ENERGY INC. - THIRD HORIZONTAL WELL DRILLED INTO LOST HORSEHILLS POOL Date: 6/2/98 5:12:10 PM Stock Symbol: AEI Alliance Energy Inc. (Alberta Stock Exchange trading symbol "AEI") is pleased to announce the success of the third horizontal well drilled into the Lost Horse Hills pool in southeastern Saskatchewan. The well was placed on production at 485 BOPD. Total production from this pool is currently 1100 BOPD. Alliance has a 50% working interest in this pool. The Company intends to drill the fourth horizontal well prior to year end. The Company will spud an exploration well in the Carlyle area in June and another exploration well in the Gainsborough area in July, both at 100% working interest. The Company is currently producing 850 BOPD versus 300 BOPD a year ago.

To: Kerm Yerman who wrote (11141)	6/9/1998 12:52:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

FINANCING - TOP 20 LISTED / Genesis Exploration Equity Offering GENESIS EXPLORATION LTD. ANNOUNCES FINANCING Date: 6/2/98 7:30:13 AM Stock Symbol: GEX Genesis Exploration Ltd. ("Genesis") announced today that it has entered into a financing agreement with a syndicate of underwriters led by Nesbitt Burns Inc. to issue from treasury 2,500,000 flow-through Common Shares at $8.00 per flow-through Common Share for gross proceeds of $20,000,000. Closing is expected to be on or before June 19, 1998. Genesis will renounce to the purchasers of the flow-through Common Shares 100 percent of the subscription proceeds as Canadian Exploration Expense, giving subscribers 100 percent tax deductions for the 1998 tax year. Proceeds from the issue will be used to fund Genesis' ongoing exploration activities. Genesis Exploration Ltd. is a Canadian company engaged in exploration, development and production of natural gas and crude oil. The Company's common shares are listed on The Toronto Stock Exchange under the trading symbol "GEX".