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

To: Kerm Yerman who wrote (11792)	7/16/1998 8:42:00 PM
From: Herb Duncan	Respond to of 15196

ENERGY FUND / Superior Propane Negotiating to Acquire ICG Propane TSE SYMBOL: SPF.UN JULY 16, 1998 CALGARY, ALBERTA--Superior Propane Inc. announced today that it is conducting negotiations with Petro-Canada to acquire all of ICG Propane. The potential acquisition is subject to certain material conditions precedent which must be satisfied or waived prior to the execution of a formal Share Purchase Agreement. In particular, certain conditions pertaining to the Competition Act must be satisfied or waived prior to Superior executing a share purchase agreement with Petro-Canada. Superior has been in discussions with the Competition Bureau for several weeks and will be filing additional information to assist the Bureau in completing its review in a timely fashion. Superior believes that the proposed transaction will be beneficial to the Canadian energy industry as the transaction will significantly improve the efficiency of propane distribution in Canada. Propane represents approximately 2 percent of Canada's total energy requirements. Propane has been subject to enhanced competition from alternative fuel sources particularly given the consolidation in the fuel oil distribution business, from electricity as that industry is deregulated and from expanded natural gas distribution networks. In addition to fuel oil, electricity and natural gas, propane competes with wood as an energy source. Superior Propane Income Fund trust units and instalment receipts trade on The Toronto Stock Exchange under the trading symbols SPF.UN and SPF.IR, respectively. There are 45.7 million units outstanding.

To: Kerm Yerman who wrote (11792)	7/16/1998 8:44:00 PM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / NRI Signs Fourth Contract in the Last Six Months ASE SYMBOL: NDA NDA.WT JULY 16, 1998 CALGARY, ALBERTA--NRI On-Line Inc. ("NRI") is proud to announce it has been awarded the St. Pierre 2D survey contract to electronically store and distribute over 200 gigabytes of marine data. Brett Kondruk, President reported, "When oil & gas companies license this block of marine seismic, our COIN solution will save them substantial duplication and retrieval fees. With our fourth contract signed in the last six months, we are seeing the market realize the true benefits of NRI's solution." A key factor in NRI's selection process was the ability to support multiple entitlements, i.e. facilitate confidential access from a single data set to all licensees of the data. NRI's COIN solution was specifically designed for this purpose. Once sharing agreements have been established, NRI's proprietary software provides highly secure access for each licensee. This data can then be delivered to their geophysicists or seismic processors via existing network connections or physically via tape copy. The St. Pierre data is currently managed by Sigma Explorations Inc. who will grant the entitlements for access to this on-line data. This data set is East Coast marine survey commonly known as the St. Pierre data, and is owned by the Atlantic GeoScience Centre in Halifax. Sigma is Canada's largest seismic data brokerage and management company with over 30 years of service to the oil industry. As the Data Management agent for the Atlantic GeoScience Centre, Sigma is actively marketing this data set. Sigma's President, Barry Korchinski, stated " This is our second contract utilizing NRI's COIN solution and marks the growing relationship between our two companies. By leveraging off the strengths of both our companies, Sigma is able to provide clients with a cost-effective solution to accessing this data." NRI would also like to announce the appointment of Brett Kondruk as President effective immediately. Mr. Kondruk has been with NRI since 1996 and brings with him over 5 years' experience in the GIS industry. In addition to his role as President, Mr. Kondruk acts as General Manager for NRI. NRI is a high volume virtual data storage and management company. Through its open system solution, the company archives, manages and delivers integrated data on-line over wide area communications networks. NRI's shares and warrants are traded on the Alberta Stock Exchange under the symbols NDA and NDA.WT respectively.

To: Kerm Yerman who wrote (11792)	7/16/1998 8:47:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITION / CanArgo Energy Inc. and Fountain Oil Incorporated Make Announcement CDN SYMBOL: CNAR JULY 16, 1998 CALGARY, ALBERTA--CanArgo Energy Inc. announced that the Plan of Arrangement in respect of its previously announced combination with Fountain Oil Incorporated received approval of the Ontario Court (General Division) on July 15, 1998. Accordingly, the combination will be effective upon issuance of a certificate in respect of the Plan of Arrangement by regulatory authorities. Fountain Oil announced at the close of trading on July 15, 1998 that it had filed with the Delaware Secretary of State an amendment to its certificate of incorporation to effect a one-for-two reverse split of the shares of Fountain Oil Common Stock. Each two previously issued shares of Fountain Oil Common Stock will represent one share. As a result of the Plan of Arrangement and Fountain Oil=s reverse stock split, holders of common shares of CanArgo will receive 0.8 exchangeable share of CanArgo for each CanArgo common share previously held, and CanArgo will become a wholly-owned subsidiary of Fountain Oil. Each exchangeable share of CanArgo is exchangeable for one share of Fountain Oil Common Stock, and the former shareholders of CanArgo will in the aggregate be entitled to 47 percent of the shares of Fountain Oil common stock then outstanding or issuable without payment of additional consideration. Effective July 15, 1998, Fountain Oil Incorporated has been renamed CanArgo Energy Corporation. The shares of CanArgo Energy Corporation (formerly Fountain Oil Incorporated) are listed for trading on the NASDAQ National Market System (under the symbol GUSH) and the Oslo Stock Exchange (under the symbol CNR). There are presently 10,438,391 common shares and 1,596,597 special warrants of CanArgo Energy Inc. outstanding.

To: Kerm Yerman who wrote (11792)	7/16/1998 8:48:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Arakis Considering Financing Alternatives NASDAQ SYMBOL: AKSEF JULY 16, 1998 CALGARY, ALBERTA--Arakis Energy Corporation (NASDAQ: AKSEF) announced today that it has formed a committee comprised of members of the Board of Directors and management to assess its corporate alternatives, including the sale of the Company. Arakis also continues to explore opportunities for financing its share of project expenditures. Midland Walwyn Capital Inc. will act as a principal advisor of Arakis in respect of any sale, merger, acquisition or other corporate reorganization, and in the management of a data room for prospective bidders.

To: Kerm Yerman who wrote (11792)	7/16/1998 8:50:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Tethys Terminates Acquisition Agreement With Granger July 16, 1998 ASE SYMBOL: GAS.A GAS.B GAS.C JULY 16, 1998 CALGARY, ALBERTA--GRANGER ENERGY CORP. announces that it has received notice from Tethys Energy Inc. that Tethys is terminating its obligations under the previously announced Acquisition Agreement between Granger and Tethys and will not be proceeding with its offer to the Granger shareholders. Tethys has advised that its decision is based on the results of its environmental review. The purpose of the environmental review was to allow Tethys the opportunity to determine any unusual environmental liabilities existing in Granger's properties. It is Granger's understanding that no unusual circumstances were identified, and that the review only identified abandonment and reclamation obligations which arose in the ordinary course of Granger's oil and gas business. These have been previously disclosed to Tethys in Granger's data room prior to the receipt of their original proposal. It is Granger's view that Tethys has no right to terminate its obligations under the Acquisition Agreement and is considering the courses of action that may be available to Granger and its shareholders.

To: Kerm Yerman who wrote (11792)	7/16/1998 8:51:00 PM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Schlumberger Declares Quarterly Dividend NYSE SYMBOL: SLB JULY 16, 1998 NEW YORK, NEW YORK--The Board of Directors of Schlumberger Limited has declared a quarterly dividend of 18.75 cents per share on outstanding stock. The dividend is payable October 9, 1998 to stockholders of record on September 2, 1998.

To: Kerm Yerman who wrote (11792)	7/16/1998 8:53:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Directors of Tekerra and Del Roca Ratify Intent to Merge ASE SYMBOL: DER AND TEKERRA GAS INC. VSE SYMBOL: TKG JULY 16, 1998 CALGARY, ALBERTA--TEKERRA GAS INC. ("Tekerra") and DEL ROCA ENERGY INC. ("Del Roca") have recently announced their intent to merge and continue operations as a single entity. On July 14, 1998, the Boards of Directors of both companies approved the intended amalgamation and the terms of the Letter of Intent. The amalgamation will now only require approval by a two-third majority vote of both shareholder groups at Special Shareholder Meetings which are anticipated to be held in mid-September, 1998, and regulatory approvals. The proposed slate of Directors for the new entity includes; Mr. John B. Ross, President - Rosstree Capital Corporation, Mr. James E. Eccott, President - Dia Met Minerals Ltd., Mr. John D. Kingsbury, President - Tekerra Gas Inc., (nominees of Tekerra) and Mr. Stanley W. Odut, President - Del Roca Energy Inc., Mr. Richard N. Gateman, Vice-President & General Counsel, - Alberta Natural Gas Co., and Mr. Kevin L. Norman, Vice President - Jardine Insurance Services Canada Inc. (nominees of Del Roca). In light of the proposed amalgamation, the current Board of Directors of Tekerra announce the termination of the employment contract with B. Zan Aycock as President and CEO. Mr. John D. Kingsbury was elected as President and CEO of Tekerra until the transaction is completed. IN THE CASE OF TEKERRA GAS INC. MR. JOHN KINGSBURY IS RESPONSIBLE FOR THE INFORMATION CONTAINED HEREIN RELATING TO TEKERRA.