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

To: Kerm Yerman who wrote (11377)	6/22/1998 1:31:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 15196

REGULATORY / NEB Hearings on Maritime Pipeline NEB TO HOLD PUBLIC HEARINGS ON THE PROPOSED DETAILED ROUTE FOR THE MARITIMES & NORTHEAST PIPELINE PROJECT IN THE MARITIMES CALGARY, June 22 /CNW/ - The National Energy Board (''Board'') will hold public hearings on written statements of opposition it has received to the proposed detailed route of Maritimes & Northeast Pipeline Management Ltd.'s (''M&NP'') natural gas pipeline from Goldboro, Nova Scotia to St. Stephen, New Brunswick. The public hearings will commence on 23 July 1998 in Fredericton, New Brunswick, on 28 July 1998 in Moncton, New Brunswick, and on 4 August 1998 in New Glasgow, Nova Scotia. Interventions are to be filed by 10 July 1998. In December 1997, the Board approved the general route for the M&NP pipeline following a public hearing held from 4 April to 16 July 1997 in Nova Scotia and New Brunswick. In February 1998, M&NP applied to the Board for approval of the Plans, Profiles and Books of Reference (''PPBoR'') respecting the detailed route for the maritime pipeline. The Board has received to date 35 written statements of opposition to the PPBoR. As background, the Detailed Route Hearing process is designed to involve all landowners and affected parties in the examination of the final pipeline route. The process begins when the company files its PPBoR following the approval of the general route of the pipeline. The PPBoR identifies the precise location of the pipeline, the lands to be crossed, the types and amounts of land rights required and the affected landowners and tenants. The company notifies each landowner from whom land and land rights are required. The landowners have 30 days from the date of notification to file oppositions to the PPBoR as it relates to their land. At the Detailed Route Hearings, parties opposing the detailed route proposed for the pipeline will have the opportunity to cross-examine M&NP's witnesses and present their own evidence concerning the best possible route and the most appropriate methods and timing of the construction of the pipeline. At the hearings, the Board will not consider matters which were the subject of the public hearing for the general route. Furthermore, the Board has no authority to settle matters of compensation between landowners and pipeline companies. Matters of financial compensation may be dealt with in separate proceedings, such as negotiation and arbitration proceedings which are the responsibility of the Minister of Natural Resources Canada. For a copy of Hearing Order MH-3-98: At the NEB Office: Library Ground Floor 311 Sixth Avenue S.W. Calgary, Alberta By Mail: National Energy Board Publications Office 311 Sixth Avenue S.W. Calgary, Alberta T2P 3H2 Telephone: (403) 299-3562 Telecopier: (403) 292-5503 Email: orders@neb.gc.ca This news release and Hearing Order MH-3-98 are also available on the Board's Internet Site at www.neb.gc.ca under the headings ''What's New!'' and ''Regulatory Update'' -30- For further information: Denis Tremblay, Communications Officer, (403) 299-2717, Telecopier: (403) 292-5503

To: Kerm Yerman who wrote (11377)	6/22/1998 1:32:00 PM
From: SofaSpud	Respond to of 15196

CORP. / Blue Range sells gas marketing arm BLUE RANGE RESOURCE CORPORATION ANNOUNCES THE SALE OF THE NATURAL GAS MARKETING OPERATIONS OF HUMBLE PETROLEUM MARKETING LTD., BLUE RANGE RESOURCE CORPORATION'S AFFILIATE, TO ENRON CAPITAL & TRADE RESOURCES CANADA CORP. CALGARY, June 22 /CNW/ - J. Gordon Ironside, President of Blue Range Resource Corporation (''Blue Range''), is pleased to announce the sale of the gas marketing operations of its affiliate, Humble Petroleum Marketing Ltd. (''Humble'') to Enron Capital & Trade Resources Canada Corp. (''ECT Canada''), a subsidiary of Enron Corp. On June 16, 1998, ECT Canada entered into a long term Management Services Agreement with Blue Range and Humble to manage the gas marketing operations of Blue Range and Humble. Under the Management Services Agreement, ECT Canada will continue to handle the operational aspects of the gas marketing business such as nominations and account balancing, allowing Blue Range to focus on more strategic elements. ''Our business relationship with Blue Range illustrates the customized partnering approach ECT Canada takes to meet the needs of our customers'', said John Lavorato, Managing Director of ECT Canada. ''By leveraging on ECT Canada's distinct marketing capabilities, Blue Range will be positioned to enhance the value of its natural gas portfolio.'' As a result of transactions associated with the sale to ECT Canada and the Management Services Agreement, Blue Range realized pre-tax gain in excess of $3 million. Blue Range is a natural gas exploration, development, production, processing and marketing company based in Calgary, Alberta. Blue Range concentrates its activities on liquid-rich natural gas prospects in Central Alberta, Northwest Alberta and Northeast British Columbia. Blue Range common shares are listed for trading on The Toronto Stock Exchange and The Alberta Stock Exchange under the symbol, ''BBR.A''. Enron is the world's leading integrated electricity and natural gas company. The company, which owns approximately $24 billion in energy related assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide and delivers physical commodities and risk management and financial services to customers around the world. Enron's Internet address is www.enron.com, and the stock is traded under the ticker symbol, ''ENE''. THIS INFORMATION HAS NEITHER BEEN APPROVED NOR DISAPPROVED BY THE TORONTO AND ALBERTA STOCK EXCHANGES. -30- For further information: J. Gordon Ironside, President, Blue Range (403) 231-6361, or Bert M. Podruzny, President, Humble, (403) 269-3220

To: Kerm Yerman who wrote (11377)	6/22/1998 1:34:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 15196

PROPERTY ACQUISITIONS / Dundee Closes Deal DUNDEE CLOSES PROPERTY DISPOSITION CALGARY, June 22 /CNW/ - Dundee Petroleum Corp. reports that it has closed the previously announced disposition of its minor working interest in a shallow gas property located in southwest Saskatchewan. Proceeds from the sale amounted to $525,000 cash, and will be used to reduce the Company's debt and fund future drilling operations. The Alberta Stock Exchange has neither approved nor disapproved of this release. -30- For further information: Michael J. Kryczka, President, or Hugh M. Thomson, Vice-President, Finance, (403) 233-2969

To: Kerm Yerman who wrote (11377)	6/22/1998 1:35:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 15196

NORMAL COURSE ISSUER BID / Enertec ENERTEC RESOURCE SERVICES INC. CALGARY, June 22 /CNW/ - ENERTEC RESOURCE SERVICES INC. (''ENERTEC'' or ''the Company'') announced today that it has amended its previously announced normal course issuer bid. Under its amended bid, ENERTEC has increased the funds available to acquire its outstanding common shares from $500,000 to $1,500,000. ENERTEC continues to believe that the trading price of its common shares at the current time is below the value represented by its operations. The Company's purchase of its outstanding common shares pursuant to the bid, however, will not exceed 447,195 common shares, the maximum number permissible under the applicable rules of the Toronto Stock Exchange. ENERTEC's normal course issuer bid terminates on February 25, 1999 or such earlier time as the bid is completed or terminated at the option of the Company. ENERTEC Resource Services Inc. is a Calgary based company which operates throughout North America, providing land seismic data acquisition, land and marine seismic data processing services and marine geophysical and navigation services. -30- For further information: Murray A. Olson, President and Chief Executive Officer, Peter H. Ryder, VP Finance and Chief Financial Officer, or G. Paul McKay, Corporate Planning Manager, ENERTEC Resource Services Inc., (403) 261-8989, Fax: (403) 264-7106