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

To: Kerm Yerman who wrote (11411)	6/23/1998 4:35:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / McCoy Brothers adds Interest In red Deer Operation MCCOY BROS ACQUIRES A 100 PERCENT INTEREST IN ITS RED DEER OPERATION Date: 6/23/98 10:36:31 AM Stock Symbol: MCB McCoy Bros Inc. is pleased to announce that its two minority partners in its Red Deer operation are converting their 42.5% interest in that operation into McCoy Bros. Inc. common shares. The transaction was completed at $2.70 per share and represents 175,580 additional shares to be issued from Treasury. This results in the Red Deer operation becoming a 100% subsidiary of McCoy Bros. Inc. Kerry Brown, Chairman, said that the Company is pleased with the expression of confidence from the two key managers of the Red Deer operation. McCoy has a profitable history dating back to 1914. The Company's businesses include truck services and sales, truck parts distribution and the manufacture and distribution of springs, axles, trailers and oil field products. It has five facilities in Edmonton, as well as operations in Grande Prairie, Calgary and Red Deer in Alberta and Rancho Cucamonga, California. The Company's shares are traded on the Toronto Stock Exchange under the symbol MCB.

To: Kerm Yerman who wrote (11411)	6/23/1998 4:39:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Pacific Tiger Energy Has Success In Thailand PACIFIC TIGER ANNOUNCES SUCCESS IN THAILAND Date: 6/23/98 11:34:17 AM Stock Symbol: PTE Pacific Tiger Energy is pleased to announce the results of the company's first well on its 20,000 acre SW1 concession, onshore Thailand. The well, WB-A1, is currently producing 150 BOPD. Michael Cvetanovic, Pacific Tiger's President and CEO, expects the production rate of the new WB-A1 well to soon increase to over 250 BOPD. "While the production rate is presently 150 BOPD, a significantly higher rate can be anticipated in the near future. WB-A1 production performance is currently inhibited by solution gas breakout in the downhole pump and this has severely reduced our pumping efficiency. The present performance of the WB-A1 well has close parallels with the early production history of the producing Wichian Buri-1 well where an identical problem of gas breakout occurred." Wichian Buri-1 was put on production in June 1995 at an initial rate of 240 BOPD. Oil production rates from Wichian Buri-1 increased progressively over the first six months of production to over 330 BOPD as the gas in the production stream declined. Wichian Buri-1 is still currently producing over 200 BOPD and has produced a total of more than 270,000 barrels of oil. This same pattern of increased production is anticipated in WB-A1. In addition, the company is pleased that the WB-A1 results indicate that there is considerably more net pay in the Wichian Buri Field than originally calculated. "These results will lead to a substantial expansion of our reserve base. These positive implications will dramatically effect our projected cash flow and project economics," Mr. Cvetanovic said. Pacific Tiger plans to drill up to three additional wells in the current drilling campaign. The next well, WB-A2, well is expected to commence within the next few weeks. "WB-A1 has established reservoir parameters that were uncertain prior to drilling. Consequently our next wells carry a very high probability of success. Our target is to increase production from the current 200 BOPD from the Wichian Buri Field to over 1000 BOPD in last quarter this year," said Cvetanovic. In addition to the current development schedule Pacific Tiger is planning a Phase II drilling program to commence after the monsoon rain season in November. The company believes the Wichian Buri Field could contain an additional 6 to 10 low risk development drilling locations. The WB-A1 well was the first well drilled and completed by Pacific Tiger. The well commenced drilling on May 6 and was drilled to a total depth of 1020 meters. The A1 well intersected the target 'F' Sandstone at a depth of 965 meters, as predicted from 3D seismic. Petrophysical data indicates 28 meters of gross hydrocarbon column and 21 meters of net oil pay. After completion operations, WB-A1 was placed on production June 10, 35 days from commencement at a cost within the budgeted expenditure of the well. Commenting on the firm's future plans Cvetanovic added, "Our ability to successfully drill a low cost well and place it on production in such a short time period and on budget has been very well received in Thailand. With our success in Thailand we believe there exists a very attractive environment to acquire new acreage with similar potential to Wichian Buri. Pacific Tiger has recognized up to 10 additional exploration prospects and leads with reserves of 3 million to 10 million barrels that can be cost effectively drilled and exploited with extremely attractive risk/return characteristics." Pacific Tiger Energy is a junior exploration and development company pursuing opportunities in the Asia Pacific region. With executive offices in Singapore and head office in Calgary the company is currently focused on exploitation of reserves in SW1, Thailand and a promising exploration block in New Zealand. It trades on the Montreal Stock Exchange under the listing symbol "PTE".