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

To: Kerm Yerman who wrote (11674)	7/10/1998 6:14:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. / Canadian Conquest Exploration Receives $6mil Natural Gas Contract Termination Payment Date: 7/9/98 5:11:41 PM Stock Symbol: CCN Canadian Conquest Exploration Inc. ("Conquest") is pleased to report that is has received a payment of approximately $6,000,000 (10 cents per share) in consideration for the early termination of a natural gas supply contract. At the same time, Conquest entered into agreements to sell three million cubic feet of natural gas per day at an average price of $2.32 per MCF for a 12 month period commencing on November 1, 1998. After giving effect to the abovementioned payment and to a recently completed property acquisition, Conquest's bank debt stands at about $16,000,000, an amount which equates to its estimated cash flow of $16,000,000 (26 cents per share) for 1998. Conquest currently has unused bank lines of $17,500,000, providing sufficient financial flexibility to complete its planned $30,000,000 capital expenditure program for 1998.

To: Kerm Yerman who wrote (11674)	7/10/1998 11:41:00 AM
From: SofaSpud	Respond to of 15196

CORP. / Renaissance granted gas export licence NEB APPROVES TWO APPLICATIONS FOR LICENCES TO EXPORT NATURAL GAS CALGARY, July 10 /CNW/ - The National Energy Board (''Board'') has approved applications from Renaissance Energy Ltd. (''Renaissance'') and TransCanada Gas Services (''TCGS'') to export natural gas for a period of 10 years commencing on 1 November 1998. Renaissance is authorized to export, from Niagara Falls, Ontario, natural gas to Renaissance Energy (U.S.) Inc. to supply existing and new markets in the U.S. Northeast and Mid-Atlantic. The volumes to be exported are: Daily - 663 000 cubic metres (23.4 million cubic feet); Annually - 242.0 million cubic metres (8.5 billion cubic feet); Term - 2 421.0 million cubic metres (85.5 billion cubic feet). Renaissance will supply the natural gas from its own corporate supply pool within the province of Alberta. TCGS is authorized to export, from East Hereford, Qu‚bec, natural gas to TransCanada Gas Services Inc. to supply markets in New England which consist of local distribution companies, industrials and power generators. The volumes to be exported are: Daily - 849 840 cubic metres (30.0 million cubic feet); Annually - 311.0 million cubic metres (11.0 billion cubic feet); Term - 3 104.4 million cubic metres (109.6 billion cubic feet). The natural gas will be purchased from Signalta Resources Limited's supply within the province of Alberta. The Board held a written hearing to consider the applications. This news release is also available on the Board's Internet Site at www.neb.gc.ca under the headings ''What's New!'' and ''Regulatory Update'' -30- For further information: Denis Tremblay, Communications Officer, Telephone: (403) 299-2717, Telecopier: (403) 292-5503