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

To: Kerm Yerman who wrote (11714)	7/13/1998 4:49:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Petrolex Energy Corporation Announces Rights Offering VANCOUVER, July 13 /CNW-PRN/ - Petrolex Energy Corporation Trading Symbol: PXV - TV Petrolex Energy Corporation (the ''Company''), further to its news releases of May 20, 1998 and June 3, 1998, is pleased to announce that the Company's Shareholder Rights Offering has been accepted for filing by The Toronto Stock Exchange (the''TSE'') as evidenced by the TSE Daily Record, Bulletin 98-1115 of July 10, 1998. Pursuant to the Rights Offering, shareholders of record resident in the Provinces of British Columbia, Ontario, Alberta, Yukon,Territory and those jurisdictions in which the Rights Offering may be lawfully made, are entitled to one Right for each common share held, with four Rights entitling such shareholders to acquire one additional common share at a price of $0.16 per share. The Record Date for the Rights Offering is July 16, 1998 and it is anticipated that the Rights Offering Circular and Rights Certificates will be mailed to the shareholders on or about July 17, 1998. The Rights will expire at 4:00 p.m. (Vancouver time) on August 10, 1998. Petrolex Energy Corporation Announces Rights Offering