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

To: Kerm Yerman who wrote (11811)	7/17/1998 10:51:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Lundin Oil AB Discovers New Oil and Gas Field in Block PM-3 Malaysia: North Bunga Pakma Field Discovery Well Flows in Excess of 100 Million Cubic Feet of Gas and 2,000 BBLs of Condensate Per Day SWEDISH STOCK EXCHANGE: LOIL B TSE SYMBOL: LOI NASDAQ SYMBOL: LOILY JULY 17, 1998 VANCOUVER, BRITISH COLUMBIA--LUNDIN OIL AB (The "Company"), through its wholly-owned subsidiary, IPC Malaysia Ltd., is pleased to announce the discovery of the North Bunga Pakma field in the northwest area of Block PM-3 CAA, in the Commercial Arrangement Area between Malaysia and Vietnam. North Bunga Pakma is the seventh field to be discovered on this highly prospective block. The discovery well, North Bunga Pakma-1, was drilled to a total depth of 10,781 feet and encountered 12 commercially significant hydrocarbon bearing reservoirs with a total gross thickness of 400 feet. Production testing of four representative sands from the J, K and I sequences yielded a combined maximum flow rate of 111 million cubic feet per day and 2,036 barrels per day of condensate. Apart from proving up significant additional reserves, the well results have upgraded the potential of the North West Pakma and North Orkid prospects which are adjacent to North Bunga Pakma. Development studies will now be carried out to incorporate the North Bunga Pakma field into the Block's development plans. The remaining two wells planned on the Block this year will be drilled on the Kekwa field and will be tied into the existing production facilities as soon as they are completed. The Kekwa field currently produces in excess of 10,000 barrels of oil per day from a Floating Production, Storage and Offloading vessel. Ian H. Lundin, President of Lundin Oil AB, commented as follows: "The reserves discovered by North Pakma represent a significant addition to the Block reserves which is currently estimated at 140 million barrels of oil and condensate and 1.8 trillion cubic feet of gas recoverable. Discussions are ongoing with the Government of Malaysia and Vietnam with regards to the Gas Sales Agreement and we expect to have a final resolution before year end which will enable Phase-II of the project to proceed with a target start up date in late 2,000 at an initial rate of 250 million cubic feet per day and 40,000 barrels of oil per day." Lundin Oil AB has a 41.44 percent working interest (held through IPC Malaysia Ltd. 26.44 percent and Sands Malaysia AB 15 percent) and is the Operator of Block PM-3 CAA. The remaining interest is held by Petronas Carigali Sdn Bhd with 46.06 percent and PetroVietnam Exploration and Production with 12.5 percent. Note: Location map available from the Company at the phone number listed below.

To: Kerm Yerman who wrote (11811)	7/17/1998 10:56:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION / Benz Acquires Reserves and Additional Interests in Key Prospects VSE SYMBOL: BZG JULY 17, 1998 HOUSTON, TEXAS--Benz Energy Ltd. today announces that it has entered into an agreement to acquire certain oil and gas properties in Mississippi, Texas and Louisiana for US$2.33 million and 600,000 shares of Benz common stock. The purchase is subject to regulatory approval. The properties to be acquired include proved non-producing reserves of 5.5 billion cubic feet of gas equivalent and probable additional reserves of 2.8 billion cubic feet of gas equivalent in Mississippi, and probable additional reserves of 1.1 billion cubic feet of gas in south Texas. In addition, the Company is acquiring additional interests in thirteen prospects primarily in Mississippi and Texas, including the Wausau prospect in Mississippi. The Company is currently drilling below 14,000' on the Wausau prospect to a proposed depth of 16,500' to test multiple objectives identified in a recently completed 3-D seismic survey. The Glancy prospect is scheduled for late third quarter 1998. Robert Herlin, chief financial officer of the Company, stated, "This transaction is a continuation of our effort to increase our interests in high impact prospects with near term potential. We are particularly pleased to increase our working interests in the currently drilling Wausau prospect by an additional 6.132 percent, and by 30 percent in the Glancy prospect that will be spudded later this year." Since the transaction is with a related party, it was reviewed and approved by independent directors. The seller has provided a secured guaranty that the value of the resulting proved properties will exceed the purchase price by December 31, 1999. As a condition of the sale, the closing has been set for the last week of July. Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas, focused on the U.S. Gulf Coast region. This press release is not for dissemination within the United States or to or through any service disseminating information in the United States. Cautionary Statement as to Forward-Looking Information Investors are cautioned that the preceding statements of the Company include certain estimates, assumptions and other forward-looking information ("forward-looking statements (information)"). The actual future performance, developments and/or results of the Company may differ materially from any or all of the forward-looking statements (information), which include current expectations, estimates and projections, in all or part attributable to general economic conditions and other risks, uncertainties and circumstances partly or totally outside the control of the Company, including rates of inflation, natural gas prices, reserve estimates, drilling risks, future production of oil and gas, changes in future costs and expenses related to oil and gas activities and hedging, financing availability and other risks related to financial activities. The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

To: Kerm Yerman who wrote (11811)	7/18/1998 3:02:00 AM
From: Kerm Yerman	Read Replies (6) \| Respond to of 15196

FIELD ACTIVITIES / T & H Resources Drilling Update T & H RESOURCES LTD. - $904,326 RECEIVED FROM RIGHTS OFFERING, DRILLING PROGRESS AT SOUTH FORT STOCKTON Date: 7/17/98 10:30:49 AM Stock Symbol: THE Shares Issued: 30,144,210 T & H Resources Ltd. ("T&H") is pleased to announce that it has closed its rights offering which was fully subscribed raising gross proceeds of $904,326. T & H received subscriptions for 5,024,035 units, each unit consisting of one common share and one-half of a common share purchase warrant. Each warrant entities the holder to acquire one common share at a price of $0.25 per share on or before April 15, 1999. The proceeds from the rights issue will be used for general working capital purposes. T & H is also pleased to announce that the Winfield Ranch 17 No. 1-E Well, on the South Fort Stockton prospect in Pecos County, has reached the 20,786 foot level and is currently drilling ahead. Gas flares continue to be encountered while drilling and the Winfield well is now 56 feet high to the projected seismic pick and 516 feet high to the analog well. T & H is enthusiastic about the drilling progress and looks forward to reaching the secondary drilling objective at around 21,500 feet and the primary drilling objective which is the Ellenburger formation at 26,000 feet. T & H has paid 20% of the turnkey cost of drilling the initial well to earn a 20% interest in the well and a 15% interest in the contract lands. T & H's interest in the initial well is subject to Baytech's 25% back-in after payout.