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

To: Kerm Yerman who wrote (11726)	7/13/1998 8:57:00 PM
From: Herb Duncan	Read Replies (2) \| Respond to of 15196

CORP / BXL Energy - Normal Course Issuer Bid ASE SYMBOL: BXL JULY 13, 1998 CALGARY, ALBERTA--BXL Energy Ltd. announces that a notice to make a Normal Course Issuer Bid (the "Bid") has been accepted by The Alberta Stock Exchange. Pursuant to the Bid, BXL may purchase, from time to time as it considers advisable, up to 994,770 common shares of BXL through the facilities of The Alberta Stock Exchange. The price which BXL will pay for any shares purchased will be the prevailing market price at the time of the purchase. Purchases may commence on July 15, 1998 and will terminate on the earlier of the date on which BXL has acquired all of the common shares sought pursuant to the Bid or July 15, 1999. The Bid may be terminated earlier. In the view of BXL's board of directors, BXL's common shares are undervalued on the market and purchases at current market prices would be advantageous to remaining shareholders of the Corporation. An independent engineering firm has valued BXL's oil and gas reserves at $12.8 million, effective January 1, 1998 and has assigned proved and 50 percent probable reserves of 1.77 million barrels of oil equivalent. This evaluation does not include the results of BXL's 1998 drilling program, as described in the company's interim report for the three months ended March 31, 1998. BXL is engaged in the acquisition, exploration, development and production of oil and gas reserves in Alberta. BXL is listed on The Alberta Stock Exchange and has approximately 19.9 million shares outstanding. Or visit BXL's website at www.bxlenergy.com

To: Kerm Yerman who wrote (11726)	7/13/1998 9:01:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

MERGERS-ACQUISITIONS / Tarragon Oil and Gas Announces Notice of Meeting and Information Circular TSE, ME SYMBOL: TN JULY 13, 1998 CALGARY, ALBERTA--Tarragon Oil and Gas Limited ("Tarragon") announced today that its Notice of Meeting and Information Circular relating to the special meeting of its securityholders to be held August 11, 1998 will be mailed to securityholders this week. The purpose of the special meeting is to request securityholder approval of the proposed transaction involving Tarragon and Marathon Oil Company ("Marathon"), whereby a subsidiary of Marathon would acquire all of the issued and outstanding securities of Tarragon. The special meeting is being held in accordance with directions contained in an Order of the Ontario Court (General Division) obtained July 2, 1998. The Information Circular and related materials will be sent to securityholders of record as of July 7, 1998. Under the terms of the previously announced transaction, securityholders of Tarragon will receive Cdn $14.25 cash for each Tarragon common share, or, at the option of the holder, exchangeable shares of equivalent value issued by a wholly-owned Canadian subsidiary of Marathon that are exchangeable into shares of USX-Marathon Group common stock, or a combination of the foregoing (subject to a maximum 90 percent of the total consideration being paid in exchangeable shares, unless Marathon agrees otherwise). The Board of Directors of Tarragon has recommended that securityholders vote to approve the transaction. Tarragon is a Canadian exploration and production company whose common shares trade on The Toronto Stock Exchange and The Montreal Exchange under the symbol TN.

To: Kerm Yerman who wrote (11726)	7/13/1998 9:05:00 PM
From: Herb Duncan	Read Replies (4) \| Respond to of 15196

FIELD ACTIVITIES / Draig - Hanna Well Update ASE SYMBOL: DRA JULY 13, 1998 CALGARY, ALBERTA--On June 20 Draig Energy Ltd. placed its horizontal well at Hanna on production at a rate of 4,000 (3,905 net) mcf / day. The well was drilled 150 meters horizontally, underbalanced and reached rates in excess of 13,000 mcf/day during the operation. The well is currently producing in the Company's 100 percent owned Hanna gas plant. The plant is presently producing at capacity of over 5,000 mcf/day of which over 98 percent is Draig working interest. As a result of the Company's 1998 drilling program, Draig is reviewing engineering plans to expand the gas plant allowing it to handle increased gas production from the area. On June 30 Draig closed an acquisition in the Brent area. Draig purchased 6.2 BCF of proven-producing gas reserves, 3.2 net wells which are producing 1,530 mcf/day and 1,559 net acres of land for a cost of $2.4 million. Net natural gas production from the core areas of Brent and Hanna have increased from 1,400 mcf/day when acquired in July 1997 to 8,000 mcf/d presently. Total production for the company is approximately 1,200 Boe/d as of July 1, 1998.