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

To: SofaSpud who wrote (11208)	6/13/1998 6:30:00 AM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / TriGas Acquires South Alberta Property TRIGAS ACQUIRES GAS PROPERTIES CALGARY, June 11 /CNW/ - TriGas announces that it has entered into an agreement to purchase for cash certain producing, non-producing and undeveloped properties in the Lone Pine, Irricana and Acme areas in south central Alberta. Certain of the properties are subject to rights of first refusal to third parties, which, if exercised, may materially effect the purchase price and the value and nature of the properties to be acquired. TriGas has arranged a new line of credit to cover the maximum purchase price. Upon the expiration of rights of first refusal in mid-July, 1998, TriGas will be in a position to release details on the acquisition including the purchase price and the impact on production and reserves. The common shares of TriGas are listed on the Toronto Stock Exchange under the symbol ''TGX''.

To: SofaSpud who wrote (11208)	6/17/1998 2:08:00 AM
From: Kerm Yerman	Respond to of 15196

RESERVE REPORT / Mercantile International Petroleum Peru Update MERCANTILE ANNOUNCES PRELIMINARY GAS RESERVES AND PLANS FOR GAS/POWER BUSINESS IN EXCESS OF 400 MW NASSAU, Bahamas, June 15 /CNW/ - Mercantile International Petroleum Inc. (''Mercantile'') announced today preliminary gas reserve estimates for Block III in Peru. As indicated in the last press release of May 12, 1998, Mercantile is in the process of having a third party appraisal conducted on its reserves in Block III, Peru in conjunction with development of a gas/power business. The preliminary estimate of gas reserves for Block III indicate that there is approximately 700 bcf of recoverable gas reserves, comprised of 279 bcf of proven, 136 bcf of probable and 287 bcf of possible reserves. These reserve estimates are subject to revision and are based on assumptions which will be contained in a final reserve report which Mercantile expects will be available shortly. Of the 700 bcf which has been identified to date, 270 bcf are related to existing wells and 430 bcf are to be established through the drilling of new wells. As the press release of May 12, 1998 also indicated, the targeted 240 Megawatts (''MW'') gas/power project is planning on sourcing the required gas from reserves related to existing wells. Given these reserves and the estimates of additional reserves obtained through new drilling to be conducted, Mercantile is contemplating the development of another gas/power project in excess of 160 MW. The Company has also identified a number of new prospects which are not included in the current reserve estimates. Based on these reserve estimates and other prospects of Mercantile, the high quality nature of the gas, the relatively low cost of drilling and gathering the gas and the proximity of the reserves to the existing electrical grid system, Mercantile believes it has a unique opportunity to become a significant participant in the power business and one of the lowest cost suppliers of electricity in Peru. As outlined in Mercantile's 1997 Annual Report, because Mercantile is an ''oil exploitation company'', it is seeking an industry partner with a proven exploration track record (which may or may not already be in the power business) for the purpose of forming a joint venture in connection with Mercantile's future seismic and drilling programs. Mercantile has the largest land base in Peru outside of the jungle, with a multitude of exploitation and exploration opportunities. Mercantile is also seeking an industry partner for the purpose of a joint venture in connection with its Colombian assets which are in the upper/middle Magdalena Valley. Mercantile is currently completing reserve reports on all of its oil and gas properties and will announce the results when these reports are finalized. Mercantile is an ''oil exploitation company'' with interests in Peru, Colombia and Myanmar. The company continues to look for international on-shore properties where the application of leading edge technologies will allow the company to recover more oil. Mercantile's common shares are listed on The Toronto Stock Exchange and traded under the symbol MPT.U, while its debentures are listed on the Winnipeg Stock Exchange.