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

To: Kerm Yerman who wrote (11647)	7/8/1998 4:05:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / Seven Seas Drilling Update SEVEN SEAS COMPLETES DRILLING THE TRES PASOS NO. 4-E WELL HOUSTON, July 8 /CNW/ - Seven Seas Petroleum Inc. (Amex: SEV; Toronto: SVS.U) announced today it successfully completed drilling operations on the Tres Pasos No. 4-E well, the ninth well drilled on the Emerald Mountain project in Colombia, South America. The Tres Pasos No. 4-E well is located on the Rio Seco Association Contract area, approximately 5 kilometers northwest from the surface location of the previously announced El Segundo No. 1 discovery well. The well reached a total depth from the surface of approximately 6,300 feet. Analyses while drilling, including the examination of highly fractured core samples, log interpretations and significant shows of oil and gas, indicate the well should be quite productive. Approximately 292 feet of the Upper Cretaceous Cimarrona formation was encountered. There was no apparent oil-water contact in the well. The Company expects to initiate drilling operations on the Tres Pasos No. 3-E well within the next two weeks. The Tres Pasos No. 3-E well is located approximately 4 kilometers south of the Tres Pasos No. 1-E well and will be the most southern well to be drilled to date on the Rio Seco Association Contract area. Seven Seas also stated that it plans to begin production testing the Tres Pasos No. 4-E well within two to three weeks. Once initiated, production testing of this well is expected to last approximately two weeks. After testing the Tres Pasos No. 4-E, the Company will then initiate an extensive production testing program on the recently completed El Segundo No. 6-E well. The production testing program for the El Segundo No. 6-E is anticipated to last for a period of at least 12 weeks. This relatively long testing program is designed to provide uninterrupted production at a constant daily rate to establish extensive additional reservoir information over a comparatively large area of investigation. Because of very limited on-site storage and transport capacity the daily production will, of necessity, be at a comparatively modest daily rate. Due to this long expected test period, Seven Seas anticipates the issuance of an interim progress statement. GHK Company Colombia, a wholly owned subsidiary of Seven Seas, is the operator of the Emerald Mountain project. Seven Seas holds a 57.7% interest in the Emerald Mountain project which encompasses the Dindal and Rio Seco Blocks. Seven Seas Petroleum Inc. is an international oil and gas exploration and production company. For more information, contact Herbert C. Williamson III, Chief Financial Officer at 713-622-8218. Statements regarding anticipated oil and gas production and other oil and gas operating activities, including the costs and timing of those activities, are 'forward looking statements' within the meaning of the Securities Litigation Reform Act. The statements involve risks that could significantly impact Seven Seas Petroleum Inc. These risks include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services and government regulation and foreign political risks, as well as other risks discussed in detail in the Seven Seas Petroleum Inc.'s filings with the U.S. Securities and Exchange Commission. -30- For further information: Herbert C. Williamson III, Seven Seas Petroleum Inc., (713) 622-8218

To: Kerm Yerman who wrote (11647)	7/8/1998 4:07:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / Cavell Williston Discovery CAVELL ENERGY (U.S.) CORPORATION ANNOUNCES INTERLAKE DISCOVERY, WILLISTON BASIN, NORTH DAKOTA CALGARY, July 8 /CNW/ - Cavell Energy Corporation (KVL:TSE) announced today, along with its partners Lyco Energy Corporation, Dallas Texas and Tipperary Corporation, Denver, Colorado, the recent completion of its Plumer-Lundquist 25-2 well in the Interlake formation. The Plumer-Lundquist 25-2 (Cavell interest 25%) is located 13 miles north of Alamo, Divide County, North Dakota. Perforation of the Interlake formation has resulted in sustained production of 225 BOPD flowing through an 8/64'' choke with a surface flowing tubing pressure of 1,500 psi. An initial completion was made in the Red River formation. While the zone was commercial, it was temporarily suspended to perforate and test the Interlake. The closest Interlake production is in the Moraine Field, about 6 miles to the east. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES -30- For further information: Murray McCartney, President and Chief Executive Officer, or Arthur Madden, Vice-President Finance and Chief Financial Officer, (403) 269-8337, Fax: (403) 264-1627

To: Kerm Yerman who wrote (11647)	7/8/1998 4:08:00 PM
From: SofaSpud	Respond to of 15196

CORP. / Moiibus Update MOIIBUS RESOURCE CORPORATION - DRILLING/CORPORATE UPDATE CALGARY, July 8 /CNW/ - Moiibus Resource Corporation advises that George K. Chow has resigned as director effective June 17, 1998. The Company participated in drilling a well in southeast Alberta with gross reserve potential of 2 - 5 Bcf of gas. The well was dry in the target zone and the well-bore was transferred to a third party with mineral rights in the upper zone, reducing dry hole costs to the Company for abandonment. In the Camao area, the well drilled in the first quarter is producing 40 Boe/d, net, bringing current Company production to 110 Boe/d. Production should increase to 130 Boe/d once pooling issues are resolved at Camao. The Company is participating in the drilling of a horizontal well in the Camao area (28% working interest) with oil production potential of 30 - 50 Bbls/d net to the Company. The well will spud once wet conditions in the area subside. This release is neither approved or disapproved by the Alberta Stock Exchange -30- For further information: Lloyd W. Herrick, P. Eng., President and CEO, (403) 262-6183, Fax: (403) 233-2040

To: Kerm Yerman who wrote (11647)	7/8/1998 4:09:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / Profco in Nigeria PROFCO RESOURCES LTD. CALGARY, July 8 /CNW/ - Profco Resources Ltd. (''PSO'' - Toronto) of Calgary announced that construction of the production facilities platform for the main Ejulebe field offshore Nigeria has been completed. The platform is on a barge and is presently in tow out of the Gulf of Mexico. The platform is expected to arrive in Nigeria in approximately five weeks at which time it will be located at the Ejulebe No. 1 well location 12 kilometers offshore. Upon completion of pipeline construction, the platform will be tied into the four oil wells and one pressure maintenance well with production expected to commence at the end of September, 1998, at approximately 13,000 barrels of oil per day. Profco's share of this production is 60% before recovery of all its costs and 22.5% thereafter. The balance of the production is owned by Profco's Nigerian partner, Atlas Petroleum International Ltd. The four oil wells were cumulatively production tested at 21,000 barrels of oil per day. The Company also reported it is continuing discussions with its Nigerian partner as to the drilling of additional development prospects surrounding the main Ejulebe pool and the continued exploration of the balance of the 215,000 acre concession known as OML 109. Profco trades on The Toronto Stock Exchange under the symbol ''PSO." -30- For further information: Richard K. Jaggard, Vice President Finance, (403) 262-5600, Fax: (403) 233-0746

To: Kerm Yerman who wrote (11647)	7/8/1998 4:11:00 PM
From: SofaSpud	Read Replies (3) \| Respond to of 15196

FIELD ACTIVITIES / Brigdon Resources gas discovery BRIGDON GAS PRODUCTION INCREASES 40 PERCENT CALGARY, July 8 /CNW/ - Brigdon Resources Inc. (BRG.A - TSE) today announced the recent completion of two Basal Quartz zone gas discoveries at Buffalo Lake, in central Alberta. The first well (70% working interest) tested at initial flow rates of between 6 million and 12 million cubic feet of gas per day. Pipeline construction was completed last week and the well is on stream, producing 3.25 million cubic feet of gas (2.25 million net) per day. The second well (38.75% working interest) tested at initial flow rates greater than 1.5 million cubic feet of gas per day, but showed declining flow pressures. This well is on an extended testing program. Brigdon's Red Willow plant (100% working interest) is now processing about 7.8 million cubic feet of gas per day. Over the next three weeks the company expects to increase Red Willow throughput to about 8.5 million cubic feet per day, including 1.25 million cubic feet of gas per day processed for non-operators. Brigdon's sales from Red Willow and other facilities will total approximately 7.7 million cubic feet of gas equivalent per day; an increase of 40% over recent production levels. Brigdon has proposed to its joint venture partners a four to six well summer drilling program of Basal Quartz and Glauconite gas targets and expects to begin drilling later in July. -30- For further information: Phillip Piffer, President, (403) 266-4421, Fax: (403) 266-4460, E-mail: brigdon-info@brigdon.com; Kevin Sobb/Grant Howard, The Howard Group Inc. (Investor Relations), (888) 221-0915, Fax: (403) 237-8387, E-mail: howardg@capitalideas.com, Internet: www.capitalideas.com

To: Kerm Yerman who wrote (11647)	7/8/1998 4:12:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 15196

PENDING NEWS / Bellator THE TORONTO STOCK EXCHANGE - TRADING HALT - BEX TORONTO, July 8 /CNW/ - The Toronto Stock Exchange has issued the following trading halt: Issuer Name: BELLATOR EXPLORATION TSE Ticker Symbol: BEX Time of Halt: Opening Reason for Halt: Pending News -30- For further information: Steve Kee, Senior Media Specialist, Marketing and Communications, The Toronto Stock Exchange, PHONE (416) 947-4682, FAX (416) 947-4662, Internet: skee@tse.com