Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerm Yerman who wrote (11450)	6/25/1998 11:57:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

ENERGY TRUSTS / Starcor Energy Royalty Fund Acquires Additional Interest In Existing Property STARCOR ENERGY ROYALTY FUND ANNOUNCES ACQUISITION OF NATURAL GAS PROPERTIES CALGARY, June 24 /CNW/ - Starcor Energy Royalty Fund (TSE - STR.UN) announced today that it has entered into an agreement to acquire additional natural gas royalty and working interests in its existing lands and in new lands at its Jenner property in Southern Alberta. The combined royalty and working interest reserves to be acquired total 18.9 billion cubic feet of proven natural gas with a reserve life index of approximately 18.7 years. Starcor will acquire an average 84% working interest in 116 producing gas wells directly offsetting existing operations plus an existing overriding royalty on 126 Starcor 100% working interest wells. Starcor will also acquire the remaining 51% working interest in the Wardlow gas plant bringing its interest to 100%. The plant has a capacity of 13 MMCF/d. Purchase price is $11.2 million which will be funded using existing bank lines. The transaction is expected to close July 29, 1998. Starcor is an open ended royalty trust which makes regular monthly distributions and trades under the Toronto Stock Exchange symbol of STR.UN.

To: Kerm Yerman who wrote (11450)	6/25/1998 12:02:00 PM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / OPTUS Natural Gas Distribution Income Fund Increases Monthly Cash Distribution. OPTUS NATURAL GAS DISTRIBUTION INCOME FUND ANNOUNCES 15% INCREASE IN MONTHLY DISTRIBUTIONS ANNUAL RATE GOES TO $2.30 FROM $2.00 FIFTH INCREASE IN THE PAST 24 MONTHS CALGARY, June 24 /CNW/ - OPTUS Natural Gas Distribution Income Fund (''OPTUS'') announced today that it is increasing its monthly cash distribution to $0.1917 ($2.30 per year) per trust unit effective with the distribution to be paid on Wednesday, July 15, 1998 to unitholders of record on Tuesday, July 7, 1998. The cash distribution consists of approximately $0.1153 interest income and $0.0764 dividend income. This increase is the fifth since OPTUS completed its initial public offering in July, 1996. The annual distribution rate was raised from an initial $1.40 to $1.50 in February 1997, to $1.70 in May 1997, to $2.00 in November 1997 and now to $2.30 in July 1998. Gary Drummond, President of OPTUS operating arm Direct Energy Marketing Limited (''DEML''), attributed the increased distribution rate to ''continued conversion of existing customers to fixed price contracts and to the addition of new customers. Since we went public, our residential and small business customer base has increased from 265,000 to approximately 500,000 today. The June 9, 1998 announcement of the establishment of Energy America, our US joint venture with two of the largest United States utilities, also offers exciting growth opportunities. This joint venture will allow DEML to offer energy packages in newly deregulated jurisdictions in the United States.'' He went on to note ''that the new electricity deregulation legislation in Ontario will provide further opportunities for growth.'' OPTUS is a Toronto Stock Exchange listed (OPT.UN) income trust which through DEML, Canada's largest independent natural gas marketing company, currently distributes natural gas to approximately 500,000 residential and small business customers in Ontario, Manitoba and Quebec. DEML supplies approximately 750 mmcf of gas per day to industrial, institutional and utility customers in North America. OPTUS has no external term debt and a market capitalization of $250 million.

To: Kerm Yerman who wrote (11450)	6/25/1998 12:06:00 PM
From: Kerm Yerman	Read Replies (4) \| Respond to of 15196

CORP. / Derek Resources Corp Enters Into IR Agreement DEREK RESOURCES CORPORATION ANNOUNCES INVESTOR RELATIONS AGREEMENT WITH INDEPENDENT CONSULTANTS DREW MARTEL AND STEPHEN STANLEY VANCOUVER, June 24 /CNW/ - Derek Resources Corporation VSE Symbol DRS Derek Resources Corporation is pleased to announce that the company has entered into an investor relations agreement with independent consultants Drew Martel and Stephen Stanley. Commencing immediately Mr. Martel and Mr. Stanley will provide the company with investor relations and corporate communications services for a retainer fee of $2,500 each per month for a period of one year, subject to earlier termination by 1 month notice. A stock option package of 33,500 options to each individual exercisable at a price of $0.49 has also been negotiated. In addition, the company has granted 10,000 stock options to two employees at an exercise price of $0.49. The options will expire on June 24, 2003. All agreements and grants of stock options will be subject to the rules and regulations of the Vancouver Stock Exchange. Derek Resources is an emerging oil company, which in the fall of 1997 acquired 100% interest (with another company having the back-in right to a 25% participating interest) in a unique oil recovery project at the Lak Ranch in the Powder River Basin, Weston County, Wyoming. Engineering estimates are that well in excess of 120 million barrels of 20 degree, high quality, low sulphur, napthenic-based oil are in place in the lower of two formations and is amenable to recovery by Steam Assisted Gravity Drainage (''SAGD''). A major oil company has guaranteed in writing to purchase oil produced from this project at WTI less only $0.48.

To: Kerm Yerman who wrote (11450)	6/25/1998 12:44:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Renata Resources Inc. Drilling Update RENATA RESOURCES INC. ENTERS INTO JOINT VENTURE DRILLING ARRANGEMENT AND ANNOUNCES DRILLING SUCCESS AT SMOKY Date: 06/24/98 11:00:42 AMALBERTA Stock Symbol: RTA Renata Resources Inc. ("Renata") is pleased to announce a $20 million joint venture drilling arrangement with Stratum Group LP. A letter of intent was signed today, and is subject to approval by both Boards of Directors. The joint venture drilling arrangement provides Renata with $20 million to accelerate its drilling programs in the Smoky, Lambert and Bergen areas of west central Alberta, and contemplates initially the drilling of 12-15 wells in these areas. This arrangement provides Stratum Group LP with exposure to a portion of the upside in Renata's drilling program. The joint venture drilling arrangement follows on recent natural gas exploration successes in the Lambert and Smoky areas of West Central Alberta. At Lambert, Renata holds a 30% working interest in 5,080 acres of land associated with the 1-3-52-22 W5M Leduc discovery well which flow tested at rates of 53 million cubic feet per day of raw gas. The 1-3 well is scheduled to come on-stream in August 1998. Additional prospects in the Nisku, Wabamun, and Cardium formations have been defined and drilling is scheduled for the second half of 1998. At Smoky, Renata holds working interests between 35% and 100% in approximately 91,000 gross acres (70,000 net acres). Recent exploration success at the 3-11-59-3 W6M discovery well has prompted acceleration of Renata's exploration program in the area, targeting prospects in the Leduc, Wabamun, and Cardium formations. The 3-11 well, in which Renata holds a 35% working interest, is currently being production tested and has flowed at rates of 26 million cubic feet per day of gas at 1900 psi flowing tubing pressure, with minimal quantities of H2S (0.1%). Further evaluation is required to define the full potential of this discovery. Additional drilling on Renata lands is scheduled during the second half of 1998. At Bergen, a 3,700 meter test is expected to spud in August, 1998. Similar to the discoveries at Lambert and Smoky, this high impact exploration well is targeting an isolated Leduc reef that has been mapped over approximately four square miles with a reserve potential of up to 500 billion cubic feet of raw gas. Analogue pools in the area have initial production rates from individual wells of up to 100 million cubic feet per day of raw gas. As a result of this joint venture drilling arrangement, Renata is now able to accelerate exploration and development drilling programs within other core areas where it holds approximately 300,000 net acres of undeveloped lands, in addition to significant light oil and gas development opportunities. Renata is aggressively pursuing its business plan of balancing its oil and gas reserve base and production mix through the drill bit.