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

To: Kerm Yerman who wrote (11216)	6/13/1998 6:56:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Danoil Makes Normal Course Issuer Bid TSE, ASE SYMBOL: DAN.A JUNE 12, 1998 CALGARY, ALBERTA--DANOIL ENERGY LTD. (Danoil) announces that it has filed a notice of intent with The Toronto Stock Exchange and The Alberta Stock Exchange to make a normal course issuer bid. The notice provides that the Corporation may purchase up to 5 percent of the outstanding Class A common shares (1,072,666 shares in total) on the Toronto Stock Exchange and The Alberta Stock Exchange during the 12-month period commencing June 12, 1998 and ending June 11, 1999. This is subject to a maximum aggregate expenditure by the Corporation of approximately $1,300,000. The price that the Corporation will pay for any such shares will be the market price at the time of any such purchases as determined by the Corporation. There are 21,453,325 Class A common shares of the Corporation outstanding as of June 12, 1998. The Corporation believes that the recent market prices of its Class A common shares do not properly reflect their underlying value. Therefore the purchase of the Class A common shares is a worthwhile investment and in the best interests of the Corporation and its shareholders. To the extent that the Corporation purchases Class A common shares for cancellation in accordance with the normal course issuer bid, the holdings of the remaining shareholders would represent an increased proportion of the Class A common shares outstanding. All other things remaining equal, this would result in an increased net asset value per share. DANOIL ENERGY LTD. is a Calgary based oil and gas exploration and development company whose shares trade on The Alberta and Toronto Stock Exchanges under the trading symbol "DAN.A".

To: Kerm Yerman who wrote (11216)	6/13/1998 7:05:00 AM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION / Update On Benz Property Acquisition and Issue Date of First Quarter 1998 Financials VSE SYMBOL: BZG JUNE 12, 1998 HOUSTON, TEXAS--Benz Energy Ltd. announces an update on its acquisition of certain properties from Calibre Energy, a privately-held company. The acquisition, approved by the board of directors and shareholders in February, is presently pending regulatory approval, which is expected in the near term. Due diligence by Benz subsequent to filing for regulatory approval has resulted in an adjustment in the terms of the transaction. Benz will assume additional drilling payables, and, in exchange, the number of Benz shares issued to the Calibre shareholders will be reduced by approximately 400,000 to a total of 1,927,426 common shares. Separately, Benz anticipates filing its first quarter unaudited financial statements no later than June 15, 1998. The delay is due to the Company beginning the process of converting its method of accounting for oil and gas properties to the predominate method utilized by its peers. Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas, focused on the U.S. Gulf of Mexico region.