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

To: Kerm Yerman who wrote (11971)	8/1/1998 2:52:00 AM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Backer Petroleum Corp. Acquires Southern Alberta Property BACKER PETROLEUM CORP. - ANNOUNCES THAT IT HAS CLOSED AN AGREEMENT CALGARY, ALBERTA-- Backer Petroleum Corp. ("Backer") announces that it has closed an agreement with respect to the acquisition of a producing property in the Queenstown Area of southern Alberta at a net cost of $1.026 million adding 80 BOE per day to Backer's production base. The effective date of the transaction is April 1, 1998. The Company estimates that as of April 1, 1998, remaining proved reserves before royalty, net to an acquired average 55% working interest, are approximately 120,000 barrels of all and natural gas liquids plus 2.25 BCF of associated natural gas (345,000 BOE). Concurrently, Backer, effective April 1, 1998, sold its interest in the Little Bow and Long Coulee properties located in southern Alberta for net proceeds of $427,000. The net result of the above transactions has increased Backers first quarter 1998 exit rate of 840 BOE per day by 47 BOE per day.

To: Kerm Yerman who wrote (11971)	8/1/1998 2:55:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Nycan Energy Corp. Drilling & Production Update NYCAN ENERGY CORP. REPORTS NEW WELLS AT RETLAW AND TURIN CALGARY, ALBERTA-- Nycan Energy Corp. today announced that it has completed a 100% owned gas well at Retlaw, Alberta. Initial production from this well will be approximately 500 MCF/D and will commence production through a company owned facility by September 1, 1998. The Company anticipates drilling one additional location on this prospect prior to year end. In addition, a Nycan operated discovery well at Turin, Alberta has been completed as a flowing oilwell. Nycan has a 50% working interest in this well, which commenced production July 28 at a rate of approximately 125 BOPD. The Turin discovery was located on a 3-D seismic anomaly and a minimum of six additional locations have been identified on company owned lands. Production from these two wells will increase Nycan's production to approximately 700 BOE/D.

To: Kerm Yerman who wrote (11971)	8/1/1998 2:58:00 AM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

CORP. / Morrison-Middlefield Completes Share Exchange With Northstar Energy MMRL COMPLETES EXCHANGE WITH NORTHSTAR ENERGY TORONTO, July 31 /CNW/ - MMRL has completed the previously announced agreement to exchange its holdings of Mountain Energy Inc. for the 4,216,740 common shares and the option to purchase an additional 1,189,732 common shares of MMRL held by Northstar Energy Corporation. These common shares and options representing approximately 25% of the Company are being cancelled. The common shares of the company are listed on the Toronto Stock Exchange under the symbol MM.