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

To: Herb Duncan who wrote (11681)	7/11/1998 5:42:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

CORP. / Kensington Energy Normal Course Issuer Bid KENSINGTON ENERGY LTD. ASE SYMBOL: KNN.A KNN.B JULY 10, 1998 CALGARY, ALBERTA--Kensington Energy Ltd. announced today that The Alberta Stock Exchange has accepted a notice filed by the Corporation of its intention to make a normal course issuer bid. The notice provides that the Corporation may, during the 12 month period commencing July 15, 1998 and ending July 14, 1999, purchase on The Alberta Stock Exchange up to 483,000 Class A Shares and up to 161,000 Class B Shares in total, being approximately 10 percent of the "public float". The price which the Corporation will pay for any such shares will be the market price at the time of acquisition. The actual number of Class A Shares which may be purchased and the timing of any such purchases will be determined by the Corporation. The Corporation believes that its Class A Shares and Class B Shares have been trading in a price range which does not adequately reflect their value in relation to the Corporation's business and its future business prospects. As a result, depending upon future price movements and other factors, the Corporation believes that its outstanding Class A Shares and Class B Shares may represent an attractive investment and a desirable use of a portion of its available funds.