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

To: Kerm Yerman who wrote (11439)	6/24/1998 9:47:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Pendaries Petroleum Common Shares to Start Trading Today on American Stock Exchange Ticker Symbol Will Be "PDR" TSE SYMBOL: PDQ JUNE 24, 1998 HOUSTON, TEXAS--The common shares of Pendaries Petroleum Ltd., an independent international oil and gas exploration company with its primary reserves in China, will be listed today on the American Stock Exchange, under the symbol "PDR". Pendaries' shares have been listed on the Toronto Stock Exchange (TSE) since the Company's initial public offering in Canada in December, 1996. Pendaries common stock will continue to trade on the TSE under its present Canadian symbol "PDQ". "Listing of our shares on the American Stock Exchange is a significant step for Pendaries Petroleum to actively attract additional U.S. investor support as our company grows," said Robert Rigney, Chairman and CEO. This is an important market, and we are delighted to have our shares listed for trading in the U.S. as well as Canada." Pendaries Petroleum holds working interests in five concessions in China, including 1.1 million acres in the Bohai Bay, and 750,000 acres in the South China Sea. Kerr-McGee is the operator on all five concessions.

To: Kerm Yerman who wrote (11439)	6/24/1998 9:49:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Dynamix Corporation - Greasy Creek Gas Development Program ASE SYMBOL: DYX JUNE 24, 1998 CALGARY, ALBERTA--Dynamix Corporation is pleased to announce that it has entered into an agreement (through its new wholly-owned, US subsidiary, Fastway Exploration, Inc.) for a 25 percent interest in a five well shallow gas development program, called Greasy Creek, in Johnson County, Kentucky, USA. The program's primary objective is Devonian Shale - Newman Ls. at 2500 feet. Secondary objectives include Berea Sandstone, Salt Sand and Maxon Sandstone formations. Anticipated schedule for the program includes: 1. Spudding commencing June 30. 2. Fracing commencing July 31. 3. Pipeline tie-in on August 15. Total acreage is 5,336 acres and total cost for the entire program is $185,625 USD. The Corporation sees this program as a low-risk, long-term producing asset that will provide cash flow in US dollars. Additionally, Fastway Exploration, Inc. has an option to participate in the entire play that could reach 40 to 50 wells in total. The operator, Carson Associates, Inc., is a proven performer in Kentucky, with strong technical skills and over sixty years of experience. Dynamix Corporation is a junior company with interests in petroleum industry.

To: Kerm Yerman who wrote (11439)	6/24/1998 9:50:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Cubacan Exploration - Appointment to Advisory Board ASE SYMBOL: CCX JUNE 24, 1998 CALGARY, ALBERTA--Cubacan Exploration Inc. ("Cubacan") is very pleased to announce the appointment of Mr. Arne R. Nielsen to the Company's Advisory Board. Mr. Nielsen, Chairman and Chief Executive Officer of Shiningbank Energy Income Fund of Calgary, Alberta, sits on the board of several public and private companies and was the President and CEO of such companies as Mobil Oil Canada Ltd., Canadian Superior Oil Ltd., Bowtex Energy (Canada) Corporation and Poco Petroleums Ltd. Mr. Nielsen brings valuable international oil and gas experience to Cubacan and will assist the Company in the exploration and development of its Cuban oil and gas interests. ANNUAL GENERAL AND SPECIAL SHAREHOLDER MEETING The Annual General and Special Shareholder Meeting is being held today, Wednesday, June 24, 1998 at 3:00 p.m. in the Barber Room at The 400 Club, 710 - 4th Avenue S.W., Calgary, Alberta. Cubacan is a Calgary based junior oil and gas exploration company with interests solely in Cuba. Cubacan is listed on the Alberta Stock Exchange (ASE) with shares trading under the symbol "CCX".

To: Kerm Yerman who wrote (11439)	6/24/1998 9:52:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Hyduke Appoints Chief Financial Officer ASE SYMBOL: HYD JUNE 24, 1998 EDMONTON, ALBERTA--The Board of Directors of HYDUKE CAPITAL RESOURCES LTD. (ASE:HYD) announces the appointment of Robert (bob) L. Ardiel as Chief Financial Officer of the corporation, effective immediately. Prior to joining Hyduke, Mr. Ardiel was General Manager of Finance for the City of Edmonton. He is a past director of the Alberta Municipal Financing Corporation and the Special Forces Pension Plan of Alberta police officers. Mr. Ardiel's career experience encompasses finance, treasury, systems, materials management and human resources. In his new position as CFO of Hyduke, Mr. Ardiel replaces Peter Lylick, who remains with the company as a member of its Board of Directors. Hyduke Capital Resources Ltd. provides a full range of products, service and equipment to oil and gas, forestry and mining sectors. Since listing on the Alberta Stock Exchange in April, 1996, Hyduke has increased its asset base in excess of 40 times and shareholders' equity by more than 10 times. At third quarter 1998, the company had $3.7 million in shareholders' equity, of which $2.4 million was generated by retained earnings in the last two years of operation. The company's year-end results for April 30, 1998, will be announced this summer. Hyduke subsidiaries include B.W. Rig Repair & Supply, Reliable Airflow Sales & Service, and CanWest Crane and Equipment Ltd.

To: Kerm Yerman who wrote (11439)	6/24/1998 9:54:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Eden Exploration Update ASE SYMBOL: EDX JUNE 24, 1998 CALGARY, ALBERTA--Eden Exploration Ltd., (listed with Standard & Poor's in the US and trading symbol EDX on the ASE) announces that it received notice yesterday that Brialto Energy Corporation has unilaterally decided to terminate its agreement to merge with Eden, as previously announced on June 11, 1998. Eden is taking advice from its counsel in this regard. Meanwhile Eden considers the proposed transaction with Brialto will not proceed, and that it is free, if it so desires, to enter negotiations with other parties.

To: Kerm Yerman who wrote (11439)	6/24/1998 9:58:00 PM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / June Distribution for NCE Energy Trust (NCA.UN) Six Cents ($0.06) TSE, ME SYMBOL: NCA.UN JUNE 24, 1998 TORONTO, ONTARIO--John Driscoll, President of NCE Resources Group, has announced distributions for the month of June, 1998, for NCE Energy Trust. NCE Energy Trust NCE Energy Trust is an income trust designed to acquire oil and gas companies. - The distribution for June 1998 is six cents ($0.06) per unit (based on April 1998 production). The lower distribution has been caused primarily by a decline in the average price of oil since the Trust's inception. The price of oil (WTI) has declined more than 45 percent since the beginning of 1997. (Sensitivity of the annual distribution rate to a change in the price of oil (WTI) is $C 0.18 per $US 1.00). - The distribution is payable on June 30, 1998, to holders of record on June 22, 1998. - Distributions are made monthly. The Trust has distributed $0.88 per unit since the initial distribution on September 30, 1997. NCE Energy Trust Trading Information - The Trust was launched in March, 1997, and has since purchased the Canadian assets of Lateral Vector Resources (Canada) Inc. for approximately $44.4 million. - The Trust trades on The Toronto Stock Exchange and Montreal Exchange. - The price for NCE Energy Trust on The Toronto Stock Exchange at the close of the market June 23, 1998 was $5.80 per unit. - The Trust has a monthly distribution reinvestment plan. NCE Resources Group NCE Resources Group is an oil and gas investment management organization, and provides a full range of technical, operational, administrative and investor services.

To: Kerm Yerman who wrote (11439)	6/24/1998 10:00:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Ionic Energy Inc. Announces Special Warrant Financing ASE SYMBOL: IOI JUNE 24, 1998 CALGARY, ALBERTA-- NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES IONIC ENERGY INC.- ASE ("IOI") announces that it has entered into an agreement with a Canadian investment dealer in respect to a private placement of 3,500,000 Special Warrants at a price of $1.40 per Special Warrant. Each Special Warrant will be exchangeable for one common share of Ionic at no additional cost. The issue is subject to regulatory approval. Closing is scheduled for July 9, 1998. The net proceeds of the offering will be used to reduce bank indebtedness and to accelerate the Corporation's capital expenditure program. Ionic Energy Inc. is a Calgary, Alberta based oil and natural gas exploration, development and production company focusing operations within West Central Alberta. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The Special Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

To: Kerm Yerman who wrote (11439)	6/24/1998 10:01:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Jordex Resources: Corporate Update TSE SYMBOL: JDX JUNE 24, 1998 VANCOUVER, BRITISH COLUMBIA-- AGM - Directors/Officers Jordex Resources Inc. (the "Company") is pleased to announce that at its 1998 Annual General Meeting held on June 24th the Company elected Brian Hinchcliffe, Paul Kostuik, and David De Witt to serve as directors for the ensuing year. In furtherance of the Company's previously stated objective to seek high yield opportunities outside the resource sector while maintaining a reduced metals exposure going forward, Brian Hinchcliffe has been appointed Chairman and Chief Executive Officer of the Company. Mr. Hinchcliffe, who has a broad base of acquisition oriented business experience as an investment banker with Goldman Sachs and Drexel Burnham Lambert, is the Company founder who previously held these positions from 1990 to 1994 and since that time has served as Vice-Chairman. Paul Kostuik will continue as President of the Company. Corporate While seeking new investment opportunities, the Company has taken measures to reduce overheads and exploration spending so as to conserve capital. The Company's treasury of Cdn $19,980,000 in cash and equivalents as at May 31, 1998 stems in large measure from the prior development and sale of a significant metal deposit. Some 96 percent of the treasury is denominated in US dollars, providing higher interest revenue than the Canadian equivalent funds. Bolivian Update Over the first five months of 1998, the Company has successfully identified four additional potential drill targets at its 100 percent owned San Javier exploration project in the eastern Bolivia Precambrian. An initial target was successfully diamond drill tested in late 1997 where, over a strike length of 400 metres, 3 holes of a 6 hole diamond drill program covering 800 metres located potentially economic gold mineralization. Having significantly expanded the target potential at the San Javier project, the Company is presently seeking a JV partner to carry out ongoing exploration. ON BEHALF OF THE BOARD OF DIRECTORS PAUL KOSTUIK, President

To: Kerm Yerman who wrote (11439)	6/24/1998 10:02:00 PM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / June Distribution for NCE Petrofund (NCF.UN) Four Cents($0.04) TSE, ME SYMBOL: NCF.UN JUNE 24, 1998 TORONTO, ONTARIO--John Driscoll, President of NCE Resources Group, has announced distributions for the month of June, 1998, for NCE Petrofund. NCE Petrofund NCE Petrofund is a royalty trust that derives its income from producing oil and gas properties in Western Canada. - The distribution for June 1998 is four cents ($0.04) per unit. The reduced distribution has been caused primarily by significantly lower oil prices (Sensitivity of the annual distribution rate to a change in the price of oil (WTI) is $C 0.04 per $US 1.00). - The distribution is payable on June 30, 1998, to holders of record on June 22, 1998. - Distributions are made monthly. - During the past 12 months, the amount distributed is $0.65 per unit. NCE Petrofund Trading Information -NCE Petrofund trades on The Toronto Stock Exchange and Montreal Exchange. -The price for NCE Petrofund on The Toronto Stock Exchange at the close of the market, June 23, 1998, was $3.79 per unit. -NCE Petrofund has a monthly distribution reinvestment plan. NCE Resources Group NCE Resources Group is an oil and gas investment management organization, and provides a full range of technical, operational, administrative and investor services.

To: Kerm Yerman who wrote (11439)	6/24/1998 10:04:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Goal Energy Acquired by Tappit ASE SYMBOL: GGY JUNE 24, 1998 REGINA, SASKATCHEWAN--Goal Energy Inc. ("Goal") announced today that an aggregate of 21,172,864 common shares of Goal Energy Inc. representing approximately 89.77 percent of the outstanding common shares of Goal have been validly deposited in accordance with the terms of Tappit's Offer dated May 29, 1998 to acquire all of the issued and outstanding common shares of Goal (the "Offer"). All conditions to the Offer have been satisfied or waived by Tappit and Tappit has taken up and paid for all of the common shares of Goal that were validly tendered in accordance with the terms of the Offer by providing notice and the necessary consideration to Montreal Trust Company of Canada in accordance with the terms of the Offer and applicable securities laws. To facilitate the deposit of the remaining common shares of Goal under the Offer, Tappit has extended the Offer to expire at 5:30 p.m. (Calgary time) on Monday, July 6, 1998. A Notice of Extension is expected to be mailed shortly. Following the take up and payment by Tappit of the Goal shares tendered under the offer the directors and officers of Goal resigned and were replaced by nominees of Tappit. Lawrence Bintner, President of Tappit was appointed President of Goal. Steve Kiser, former President of Goal, has been appointed a director of Tappit. GOAL ENERGY INC. PER: "LAWRENCE BINTNER, PRESIDENT"

To: Kerm Yerman who wrote (11439)	6/25/1998 11:34:00 AM
From: Kerm Yerman	Read Replies (4) \| Respond to of 15196

KERM'S KORNER / Today's Reporting Kerm is taking the day off and Trading Notes will be unavailable. News releases will be continuously posted.

To: Kerm Yerman who wrote (11439)	6/25/1998 11:40:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / Gulf Canada Resources North Sea Discovery GULF CANADA ANNOUNCES NETHERLANDS NATURAL GAS DISCOVERY DENVER, COLORADO, June 24 /CNW/ - Gulf Canada Resources Limited announced today a natural gas discovery at the Gulf operated Q4-8 exploration well on the Q-4 Block located offshore in the Dutch sector of the North Sea. Gulf Canada Resources, through its wholly owned subsidiary Clyde Petroleum Exploratie B.V., currently holds a 49.75 per cent interest in the block. The Q4 discovery well tested 27 million cubic feet of gas per day and is located approximately 20 kilometres (12 miles) from Gulf operated infrastructure in the area, which will potentially reduce development time. The current plan is to submit a production licence application later this year, proposing to start production by year-end 1999. Partners in the Q-4 Block are Dyas B.V. with a 17.25 per cent interest and Clam Petroleum B.V. (a 50/50 joint venture with Marathon Petroleum Netherlands, Ltd., which is a wholly owned subsidiary of Marathon Oil Company, and Burlington Resources Netherlands Inc., which is a wholly owned subsidiary of Burlington Resources Inc.) with a 33 per cent interest. The State has a right to acquire a 40 per cent interest through Energie Beheer Nederland B.V. under ''back-in'' provisions.

To: Kerm Yerman who wrote (11439)	6/25/1998 12:52:00 PM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

SERVICE SECTOR / Northline Energy Services Acquires Company NORTHLINE COMPLETES ACQUISITION OF COILED TUBING COMPANY AND FINANCING Date: 6/24/98 6:34:41 PM Stock Symbol: NES NORTHLINE ENERGY SERVICES INC. ("Northline") (ASE: NES) is pleased to announce that it has completed its previously announced Major Transaction, pursuant to which Northline has acquired all of the issued and outstanding securities of Northline Energy Ltd. ("NEL") for $2,000 in cash and the payment by Northline of all outstanding shareholder loans of NEL, which loans plus interest at a rate of 5.5% per annum were $375,263.22. The acquisition of the shares of NEL constitutes the major transaction of the Corporation as defined in ASC Policy 4.11 and ASE Circular Number 7. Northline also announces it has raised gross proceeds of $1,050,000 pursuant to the private placement of 1,000,000 units of Northline (the "Units") at a price of $1.05 per unit. Each Unit consisted of one common share of Northline and one share purchase warrant (the "Warrants"), with each Warrant entitling the holder thereof to purchase one additional common share of Northline for a period of six months at a price of $1.50. NEL is a company that is engaged in the business of marketing, selling and providing endless coiled tubing, drilling and related services to the oil and gas industry in Alberta.