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

To: Kerm Yerman who wrote (11762)	7/15/1998 5:48:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. / Veritas DGC Inc. Comments On Halt In Trading On NYSE VERITAS DGC INC. - ANNOUNCEMENT HOUSTON, TX-- Veritas DGC Inc. announced today that it is entirely comfortable with analysts' consensus estimates for the fourth quarter and the fiscal year 1998. The Company is unable to account for the extraordinary volume and dramatic price drop in its stock that led to the NYSE trading halt earlier today due to an order imbalance. The Company will have no further comment on this unusual market activity. Veritas DGC Inc., is a leading provider of land, transition zone and marine-based seismic data acquisition, seismic data processing, and multi-client data sales to the petroleum industry. Veritas DGC operates seven divisions in selected markets worldwide and, based on revenue, is the fifth-largest geophysical services provider.

To: Kerm Yerman who wrote (11762)	7/15/1998 5:57:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Niko Resources Ltd. Has Hazira Success NIKO RESOURCES LTD. - HUGE SUCCESS FOR NIKO IN HAZIRA CALGARY, ALBERTA-- Niko Resources Ltd. (ASE - NKO) announced today that based on an initial 5 point test, deliverability at its new Hazira #6 well is expected to be equipment restricted at a rate of 15 MMCF/day with a 25% pressure drawdown. Hazira # 6 is the first well the Company has completed using the gravel pack technology and the Company intends to gravel pack all wells including the existing wells. By using the gravel pack completion technique the Company expects that existing and future wells will have production rates similar to Hazira #6. In addition, an 18" sales pipeline in the Hazira corridor is under full construction and the Company has designed and surveyed an additional 36" sales pipeline. The Land Based Drilling Platform is now 900 meters into the sea and the 100 MMCF/day gas plant for Hazira is on schedule for August delivery.

To: Kerm Yerman who wrote (11762)	7/15/1998 6:00:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Destiny Resource Services Warrant Redemption DESTINY RESOURCE SERVICES CORP. ANNOUNCES RESULTS OF PURCHASE WARRANT REDEMPTION CALGARY, AB-- Destiny Resource Services Corp. ("Destiny") announced today that 995,000 of the Company's 1,000,000 redeemable Purchase Warrants ("Warrants") had been exercised prior to the scheduled expiry date of June 25,1998. The 995,000 "Warrants", which were exercised, represented approximately 99.50% of the total Warrants outstanding and resulted in the issuance of 995,000 Shares and aggregate proceeds of $1,890,500 to the Company. The Company now has 10,242,773 shares outstanding. The Company intends to use the proceeds from the exercise of the Warrants to augment its working capital. Destiny Resource Services Corp. is a Calgary-based oilfield service company providing specialized front-end services for exploration, production and seismic acquisition companies in selected markets worldwide. Destiny has operations in North and South America, the Middle East, Africa and Southeast Asia, and serves a customer base that includes many of the largest integrated energy and geophysical companies in the world.

To: Kerm Yerman who wrote (11762)	7/15/1998 6:04:00 PM
From: Kerm Yerman	Read Replies (8) \| Respond to of 15196

CORP./GHP Exploration Corp To be Listed On Toronto Stock Exchange GHP EXPLORATION CORPORATION RECEIVES TORONTO STOCK EXCHANGE LISTING HOUSTON, TEXAS-- GHP Exploration Corporation (CDN:GHPX.U) is pleased to announce that the Toronto Stock Exchange has approved its shares for listing. The Company's common shares will trade in United States dollars under the symbol GHP.U commencing July 16,1998. The Company also is pleased to announce that final receipts were issued within the qualification period on June 29,1998, by both the Ontario and British Columbia Securities Commissions, for the Company's prospectus dated June 24, 1998. The prospectus qualified for distribution 3,888,000 common shares of the Company, 1,944,000 common share purchase warrants and 200,000 agent's warrants issued pursuant to a Special Warrant financing that closed on February 27,1998 (News-March 2,1998). Each common share purchase warrant and agent's warrant entitles the holders to acquire a common share of the Company at a price of US $2.50 per share. The warrants expire on March 1, 1999. GHP engages in the exploration for and development and production of crude oil and natural gas in the United States and Internationally with operations and interests in acreage in the Gulf of Mexico, West Texas, Egypt and in Tunisia. The Company currently has 21.8 million common shares outstanding.

To: Kerm Yerman who wrote (11762)	7/16/1998 7:48:00 AM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Cotton Valley to Acquire $7 Million of West Texas Oil Properties DALLAS--(BUSINESS WIRE)--July 14, 1998--Cotton Valley Resources Corporation (AMEX/KTN; CDN/CVZC) announced today that it has entered into an agreement to acquire a Permian Basin private oil and gas company currently operating 180 oil and gas wells in four counties of West Texas and certain other unrelated properties for a total cash price of $7 million. Using reports prepared by outside petroleum engineers and prices of $13.50/bbl. for 1998 and $15.50/bbl. for 1999, the Company estimates that the effect on the 11 months remaining in fiscal 1999, starting in August, 1998, will be sales of $3.8 million, income from operations of $2.7 million and net income after interest, depletion and depreciation of $1.0 million. If oil prices average $18.00/bbl. over the next fifteen years, the properties are expected to generate, during that period, $36.5 million of revenue and $22.6 million of net operating income. The properties are currently producing 450 barrels of oil per day which is expected to increase to a one-year average of 880 barrels of oil per day (and 525 Mcf of gas per day) as a $2.5 million infill drilling and reworking program is implemented. The independent engineers have estimated the property to contain net proved reserves of 2.4 million barrels of oil and 1.5 billion cubic feet of gas. Of these reserves, approximately 53% is proved producing, 17% is production behind pipe and 30% is proved undeveloped. Cotton Valley engineers have further estimated that an additional 2 million barrels of oil and 2 billion cubic feet of gas will become classified proved within the next 12 months as the planned redevelopment program is implemented. The property contains almost 7,000 acres of producing leases in the San Andres formation which are prospective candidates for a waterflood project and according to Cotton Valley engineers could contain probable reserves of more than 4 million barrels of oil based upon a percentage of ultimate primary recovery. ''This acquisition is scheduled to close in early August,'' said Gene Soltero, Chairman of the Board and Chief Executive Officer. In other property acquisition moves, Cotton Valley also announced that it elected not to exercise the option it held with Phillips Petroleum Company [NYSE:P - news] to acquire Phillips interest in the East Binger Field due to a reduction in value as a result of lower oil prices. Cotton Valley further announced it has entered into an option expiring in September 1998 to purchase $1.5 million of producing and undeveloped oil properties in the North Yellow Creek and East Yellow Creek Fields of Wayne and Clarke Counties, Mississippi. Details will be announced as the evaluation progresses. The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward looking statements are reasonable, it can give no assurance that the expectations of any of its forward looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties. Cotton Valley Resources Corporation acquires and develops oil and gas properties using new technologies and its own service companies. There are approximately 17 million common shares outstanding.