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

To: SofaSpud who wrote (11666)	7/8/1998 9:42:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

FIELD ACTIVITIES / Exeter Oil & Gas Successfully Completes Fifth Well VSE SYMBOL: EOL JULY 8, 1998 CALGARY, ALBERTA--Exeter Oil & Gas Limited is pleased to announce that it has now successfully completed the fifth well in the company's earlier announced 1998 six well drilling program. The well, Exeter et al Gunn 12-18-55-3W5M was drilled to a total depth of 4510 feet and cased as a potential Banff gas well. Of the five wells drilled to date under the program, two have been completed as oil wells, two have been cased as potential gas wells and one was drilled and abandoned. Wet weather conditions throughout the Province of Alberta have hampered the company's efforts to complete and tie-in the four successful wells. The company now intends to proceed with this work as quickly as possible during July and August. Exeter Oil & Gas Limited is a publicly traded resource company with shares listed on the Vancouver Stock Exchange (trading symbol "EOL"). C. H. Diggon President

To: SofaSpud who wrote (11666)	7/8/1998 9:45:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION /Marchwell Capital Concludes Acquisition of Oil and Gas Interests ASE SYMBOL: MHW JULY 8, 1998 VANCOUVER, BRITISH COLUMBIA--Marchwell Capital Corp. (the "Corporation") is pleased to announce that it has concluded the acquisition of certain oil and gas interests (the "Acquisition") in the areas of Open Creek, Alberta and Nevis, Alberta. (the "Alberta Assets") pursuant to a Purchase and Sale Agreement made as of April 14, 1998 with Bonanza Energy Ltd. At the Annual and Special General Meeting of the Shareholders of the Corporation on June 30, 1998 the Shareholders approved the Acquisition as the Major Transaction of the Corporation. The consideration paid for the Alberta Assets consisted of approximately $147,514 cash and the issuance of a unsecured subordinated convertible debenture in the principal amount of $500,000 bearing interest at a rate of 6 percent per annum. The terms of the conversion are one Common Share of the Corporation for each $0.62 of principal amount of the Convertible Debenture. The consideration is supported by two independent oil and gas reports prepared by Sproule Associates Limited and O'Neill Petroleum Exploitation Consultants Ltd. The Acquisition is non-arm's length as Mr. John Fleming, President of Bonanza Energy Ltd., is also a shareholder and director of 721073 Alberta Ltd., a company which holds 1,000,000 escrowed shares of the Corporation. The Corporation is a junior capital pool company and the Acquisition of the oil and gas interests in Open Creek, Alberta and Nevis Alberta, will constitute the Corporation's Major Transaction pursuant to Rule 46-501 of the Alberta Securities Commission and Circular No. 7 of The Alberta Stock Exchange. Upon receiving the final approval of the Acquisition by The Alberta Stock Exchange, the Corporation will no longer be a junior capital pool company.

To: SofaSpud who wrote (11666)	7/9/1998 5:35:00 AM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

FIELD ACTIVITIES / Syncrude Canada Sets Three New Oil Sands Records SYNCRUDE SETS THREE NEW OIL SANDS RECORDS FORT MCMURRAY, July 8 /CNW/ - The giant Syncrude Canada oil sands operation, located in northeastern Alberta, ran at a record-setting pace in June. Shipments for the month totalled 7.5 million barrels, an average of 250,000 barrels per day. This exceeds the previous record of 7.3 million barrels set in December 1997. Shipments in June 1997 were 6.9 million barrels. Daily and weekly records were also set. On June 13, 261,000 barrels were shipped and 1.81 million barrels were shipped during the week ending June 28. ''These records are significant and are the result of a lot of hard work and dedication by both Syncrude employees and our contractors,'' said Jim Carter, president and chief operating officer. ''In addition, the plant ran very smoothly and reliably and that is reflected in the production results.'' Shipments for the quarter totalled 21.4 million barrels, compared to 15.4 million barrels in the second quarter of 1997. Average daily shipments for the current quarter were 235,000 barrels, compared to 169,000 barrels during the second quarter of 1997. Year-to-date shipments stand at 37.2 million barrels for the first half of the year, compared to 32.8 million for the same period in 1997. Syncrude plans to ship 80.5 million barrels in 1998, compared to the 75.7 million shipped in 1997. On a rolling 12-month basis, Syncrude shipped 80.1 million barrels from July 1, 1997 to June 30, 1998. Syncrude Canada is a joint venture owned by AEC Oil Sands, L.P., AEC Oil Sands Limited Partnership, Athabasca Oil Sands Investments Inc., Canadian Oil Sands Investments Inc., Canadian Occidental Petroleum Ltd., Gulf Canada Resources Ltd., Imperial Oil Resources, Mocal Energy Ltd., Murphy Oil Company Ltd., and Petro-Canada.