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

To: Herb Duncan who wrote (11297)	6/18/1998 5:31:00 PM
From: SofaSpud	Respond to of 15196

EARNINGS SERV. 10 LISTED / Precision Drilling to hold Conference Call PRECISION DRILLING CORPORATION CONFERENCE CALL 1998 YEAR END RESULTS CALGARY, June 18 /CNW/ - Precision Drilling Corporation intends to release its year end results at approximately 1:00 p.m. Calgary time on Thursday, June 25, 1998 and has scheduled a conference call to begin promptly at 9:00 a.m. Calgary time on Friday, June 26, 1998. Approximately 10 minutes will be set aside for discussion and presentation followed by 35 minutes for Q & A. Due to time constraints, time allowed for this conference call will be strictly limited to 45 minutes. The conference call dial in number is 416-620-5437 A recap of the conference call will be available by dialing 416-626-4100 reservation number 932617 from June 26, 1998 through to July 3, 1998. Precision Drilling Corporation is listed on The Toronto Stock Exchange under the ticker symbol PD and on the New York Stock Exchange under the ticker symbol PDS. -30- For further information: Jan Campbell, Corporate Secretary, (403) 716-4500; Fax: (403) 264-0251; Website: www.precisiondrilling.com

To: Herb Duncan who wrote (11297)	6/18/1998 5:32:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / Cirque UK drilling CIRQUE UK DRILLING UNDERWAY - PRODUCTION HITS 900 BOPD CALGARY, June 18 /CNW/ - Cirque Energy (UK) Limited announces that the first of two appraisal wells have commenced drilling on its Fiskerton Oil pool discovery. The Fiskerton Airfield No.2 will be drilled to a total depth of 1,650 meters and is expected to finish drilling about July 5, 1998. This well will be followed by the No.3 Appraisal Well on the same structure. A third well, the Fiskerton Airfield West 1 Well, a new pool wildcat will be drilled on a large separate structure one kilometer west of the discovery well. This well should commence drilling by Mid-August, 1998. All locations have been selected from the 16 square kilometer 3-D seismic program which in addition to the Fiskerton oil bearing structure has identified three other undrilled structures. The original discovery well is currently flowing on a restricted choke at 300 barrels of clean oil per day. Comprehensive pressure analysis on the well indicates no pressure decline in the reservoir to date. Planning applications have been submitted for a 2,500 meter pipeline to the Welton Battery. Construction is scheduled to commence Mid-August with a late September start. Oil deliveries will be restricted to 300 bopd until the pipeline is completed. UK Oil deliveries are forecasted to increase to 1,800 gross bopd once the pipeline is in place. Cirque as operator has a 48.2% interest in this project. With no royalties payable onshore NETBACKS in the UK to Cirque are $13.00 CDN/bbl at $14.00 US/bbl oil. The Turin Battery in Southern Alberta will become operational on June 19, 1998. Cirque will bring 10 wells into the facility, 7 of which have been shut-in for the past four months. Oil solution gas and two gas wells are expected to produce at rates of 450 bopd and 3 mmcfd gross (370 boepd net). Cirque as operator has 50% working interest. A total of 8 wells of 50 possible undrilled 3-D identified locations are scheduled to be drilled in 1998. Cirque's 3-D coverage exceeds 23 square miles. In the Medicine Hat Area of Southern Alberta, Cirque acquired 100% interest in a two parcel (1,280 net acres) of land. A geologically and geophysically defined gas prospect has been farmed out and a well will be drilled at no cost to Cirque in July 1998. Cirque's production will increase to 900 boepd with the start up of the Turin Battery and is expected to reach 2,000 boepd by December 31, 1998. ON BEHALF OF THE BOARD OF DIRECTORS, Glen A. Phillips President & CEO The Alberta Stock Exchange has neither approved nor disapproved the contents of this news release. -30- For further information: Glen A. Phillips, President & CEO or Ross A. Jones, Vice President of Finance, Cirque Energy Corp. (403) 266-4344, Fax: (403) 290-0043, Website: cirque-energy.com, Email: info@cirque-energy.com