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


To: Kerm Yerman who wrote (11645)7/7/1998 10:04:00 PM
From: Herb Duncan  Respond to of 15196
 
MERGERS-ACQUISITIONS / Draig Energy Announces Update on Kensington

ASE SYMBOL: DRA

JULY 7, 1998



CALGARY, ALBERTA--Draig Energy Ltd. announced today that the
conditions of its offer to acquire all of the Class A Shares and
Class B Shares of Kensington Energy Ltd. ("Kensington") were not
met by the expiry time of 4:30 p.m., Calgary time, on July 7,
1998. Accordingly, Draig has decided not to take up and pay for
the Class A Shares and Class B Shares of Kensington deposited
under the Offer.