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

To: SofaSpud who wrote (11156)	6/9/1998 9:05:00 PM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Wenzel Downhole Tools Ltd. Signs Best Efforts Advisory Agreement ASE SYMBOL: WZL JUNE 9, 1998 CALGARY, ALBERTA--At the request of the Alberta Stock Exchange, Wenzel Downhole Tools Ltd. is announcing the following: 1. Wenzel has signed a BEST EFFORTS advisory agreement. Wenzel has engaged EnerVest Capital Group Inc. of Calgary to act as advisors in structuring a project financing of $5,000,000.00 USD. There has been no specific structure agreed upon. Wenzel is not required to accept any funding proposal put forth by EnerVest. Should Wenzel agree to any funding proposal put forth by EnerVest, the proposal may need regulatory approval. 2. The Company and William Wenzel filed a statement of claim in the federal Court of Canada on April 20, 1998 against NQL Drilling Tools Inc., Black Max Downhole Tool Ltd. and Canadian Downhole Drilling Systems Inc. for infringing the Company's patent rights pursuant to Canadian Patent 2,026,630. The patent relates to a downhole thrust bearing assembly which bearing assembly is a key component in directional drilling. The Company and William Wenzel are suing for an injunction and damages of 25 million dollars. The Defendants, as yet, have not filed a Statement of Defense but have filed a Notice of Motion returnable in Ottawa on Thursday, June 4th, 1998, to request Further and Better Particulars, of the Plaintiffs' claims in order to allow them to defend. In addition, the Defendants asked for a sixty-day extension of time to defend after the Particulars are served. Wenzel Downhole Tools Ltd. believes that it is in its shareholders' interest to bring this matter to trial quickly. Wenzel Downhole Tools Ltd. had already granted a fifteen-day extension pursuant to a request by the Defendants. Based upon our counsel's advice, Wenzel has permitted another 30 day extension, rather that the sixty-day extension requested. Based upon our legal advice, Wenzel Downhole Tools Ltd. is confident that it has a good cause of action, both for an injunction and for damages and is attempting to bring this matter to finalization in Court in the most expeditious manner possible. There are no other material changes to the company's operations at this time.

To: SofaSpud who wrote (11156)	6/9/1998 9:07:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / PanOil Resources Commences Operations at Stirling ASE SYMBOL: PRE JUNE 9, 1998 CALGARY, ALBERTA--PanOil Resources Ltd. has commenced operations on a four well program at Stirling. The first well spudded on June 5, 1998. The wells are targeted to gas horizons in the Bow Island Formation. The Company has adequate facilities in the area to process additional gas. The testing of the wells should begin in the next two weeks.

To: SofaSpud who wrote (11156)	6/9/1998 9:08:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Deena Energy Enters into Agreement ASE SYMBOL: DNG JUNE 9, 1998 CALGARY, ALBERTA--Deena Energy Inc. (ASE-DNG) is pleased to announce that pursuant to a letter of intent dated May 26, 1998, which is subject to the completion of a due diligence review, it has entered into an Agreement with Canaccord Capital Corporation to sell on a best efforts basis approximately $5,000,000.00 by way of prospectus offering of Flow-Through Common Shares. The Flow-Through Common Shares will be sold at a price to be determined for an aggregate consideration of $5,000,000.00. The proceeds of the offering will be used to fund Deena's ongoing domestic exploration projects. Deena also wishes to announce that Mr. Bill Ostlund has been appointed to Deena's Board. Mr. W.(Bill) Ostlund is Vice-President of Finance and Chief Financial Officer for Reserve Royalty Corporation. Bill brings over eighteen years of industry experience to the Board of Deena.

To: SofaSpud who wrote (11156)	6/9/1998 9:12:00 PM
From: Herb Duncan	Respond to of 15196

MERGER= ACQUISITIONS / Humboldt Updates Ownership of Sharon Energy Ltd. VSE SYMBOL: HMB.A JUNE 9, 1998 CALGARY, ALBERTA--Humboldt Capital Corporation advised that it has acquired an interest in Sharon Energy Ltd. through the purchase of shares in a private placement and as a fee for a loan to the Company. Humboldt acquired 1,750,000 common shares of Sharon and warrants to purchase 875,000 common shares at a price of $0.25 per share on or before September 3, 1998, as part of a private placement. In addition, in connection with a loan from Humboldt to Sharon, Humboldt was granted warrants to purchase a further 480,000 common shares at a price of $0.25 per share. As a result of the transactions, Humboldt currently owns 1,750,000 common shares or 18.0 percent of the outstanding common shares and on the basis that Humboldt exercise its warrants to purchase additional shares, Humboldt's interest in Sharon would increase to 3,105,000 or 28.0 percent of the outstanding common shares of Sharon. The acquisitions are for investment purposes and Humboldt, may, from time to time, as market opportunities exist or develop, increase its beneficial ownership of or control and direction over common shares. R.W. Lamond is the Chairman of the Board of, and holds approximately 60 percent of the outstanding shares of, Humboldt.

To: SofaSpud who wrote (11156)	6/9/1998 9:15:00 PM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / Superior Propane Income Fund - Cash Distribution for the Period From April 1, 1998 to June 30, 1998 - $0.27 Per Trust Unit TSE SYMBOL: SPF.UN JUNE 9, 1998 CALGARY, ALBERTA--The Trustees of the Superior Propane Income Fund (the "Fund") declared a cash distribution for the period of April 1, 1998 to June 30, 1998 of $0.27 (twenty-seven cents) per trust unit (including trust units represented by Instalment Receipts) payable on July 15, 1998 to unitholders of record at the close of business on June 30, 1998. For income tax purposes, the income from the cash distribution of $0.27 per trust unit will be considered to be: - a return of $0.0328 per trust unit, - other income of $0.2372 per trust unit The return of capital amount of $0.0328 per trust unit pertains to the pass through of issue costs incurred by the Fund as part of its initial public offering and to accrued interest on the 10 percent of the Superior Shareholders Notes acquired by the Fund on May 28, 1998.

To: SofaSpud who wrote (11156)	6/9/1998 9:17:00 PM
From: Herb Duncan	Read Replies (2) \| Respond to of 15196

FINANCING / TUSK Arranges Financing TSE SYMBOL: TKE JUNE 9, 1998 CALGARY, ALBERTA--TUSK Energy Inc. announces that it has entered into agreements, subject to regulatory approval, for the issue of an aggregate of 830,200 flow-through common shares at an average issue price of $2.09 and the issue of 300,000 units, each unit comprising one common share and one-half of one common share purchase warrant at an issue price of $1.95. The total amount raised by TUSK is $2,316,440. A total of 150,000 common share purchase warrants will be issued to the investors in the non-flow-through common shares, each entitling the holder to acquire one common share of TUSK until June 9, 1999 for $2.25. All of the shares to be issued in this financing will be subject to a hold period of 12 months.

To: SofaSpud who wrote (11156)	6/9/1998 9:18:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / Patria Announces Completion of Drilling Cropwell Butler #3 Well ASE SYMBOL: PT JUNE 9, 1998 CALGARY, ALBERTA--PATRIA RESOURCES LTD. ("Patria") announces that it has completed the drilling of its Cropwell Butler #3 (formerly named Cropwell Butler #2a) well. Borehole information and logs indicate the presence of a reservoir in the Kinderscout sand of 11 net feet. Patria has applied to the UK Department of Trade and Industry for permission to conduct a long-term (90 day) test on the well. The well is 100 percent owned by Patria and is the first location in a planned multi-well development program. Patria has completed a new seismic survey of some 35km over seven existing prospects on its lands. Initial results over the first two prospects processed indicates the confirmation of the projected structures. Final processing of the data will be completed in the weeks to follow. Patria has a 100 percent working interest in approximately 160,000 acres of P & NG rights in the East Midlands Basin of the United Kingdom.

To: SofaSpud who wrote (11156)	6/9/1998 9:20:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Loon Announce Financing ASE SYMBOL: LEY JUNE 9, 1998 CALGARY, ALBERTA--Loon Energy announces that it has sold 927,500 Class C Flow-Through Special Warrants at $0.55 and 166,000 Class D Special Warrants at $0.50 for total gross proceeds of $593,125. A total of 83,000 share purchase warrants each entitling the holder to acquire one common share of Loon for $0.60 until April 30, 1999 will be issued to the investors in the non-flow-through Class D Special Warrants. Loon will file a preliminary prospectus to clear the common shares issuable upon exercise of the Class C and Class D Special Warrants. Loon expects to file that prospectus within 90 days. A preliminary prospectus was filed earlier this year to clear for trading the common shares issuable upon exercise of Class A and Class B Special Warrants issued to investors in December, 1997. Loon expects to receive a final receipt for this prospectus prior to mid-July. Proceeds of the issue will be used to fund exploration and development programs of the company including its participation in Strachan and Carvel. At Strachan, Loon participated for 10 percent BPO (5 percent APO) in a 4,340 metre exploratory well. At Carvel, Loon will operate the drilling of a test well (33.34 percent) on a gas prospect within the next few months.