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

To: Kerm Yerman who wrote (11981)	8/4/1998 1:37:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / Corridor Anticosti Well JUPITER NO. 1 WELL SPUDDED ON ANTICOSTI ISLAND HALIFAX, Aug. 4 /CNW/ - Corridor Resources Inc. (CDH-ASE) announced today that the Jupiter No.1 well was spudded on Saturday, August 1st. It is the second well in the drilling program being undertaken by Shell Canada Limited and Encal Energy Ltd. on Corridor's licenses on Anticosti Island this year. Shell Canada and Encal have completed over half of their planned seismic program being undertaken on the central and eastern parts of the Island this summer. The seismic results will provide the basis for the third and fourth wells to be drilled as part of the farm-in program on Corridor's licenses. Shell Canada and Encal are financially committed to drill the third well by year end 1999 and the fourth well by year end 2000. The farm-in program (4 wells and 500 kilometers of seismic) is being conducted at Shell Canada's and Encal's sole risk and expense, with Shell Canada as the operator. Corridor is a junior natural resource corporation focussing on oil and gas exploration in eastern Canada. The head office of Corridor is located in Halifax, Nova Scotia, and its common shares trade on the Alberta Stock Exchange under the symbol CDH. The Alberta Stock Exchange has neither approved or disapproved the information contained herein. -30- For further information: Norman Miller, President, Corridor Resources Inc. No. 301, 5475 Spring Garden Road, Halifax, Nova Scotia, B3J 3T2, Phone: (902) 429-4511, Fax: (902) 422-6715, Email: info@corridor.ns.ca, URL: www.corridor.ns.ca

To: Kerm Yerman who wrote (11981)	8/4/1998 4:54:00 PM
From: SofaSpud	Read Replies (7) \| Respond to of 15196

SERVICE SECTOR / Alpine sells Argentina operation ALPINE OIL SERVICES (ARGENTINA) SOLD TO COMPUTALOG S.A. CALGARY, ALBERTA-- Mr. Rodney Hauser, President of Alpine Oil Services Corporation, today announced the sale of Alpine Oil Services (Argentina) to Computalog S.A. Alpine Argentina's drill stem testing and telemetry assets were not included in the transaction, and are being re-deployed to Alpine's North American operations. The sales price of the transaction is not disclosed in accordance with an agreement with the buyer. This transaction is not expected to result in any write-downs. For the year ended December 31, 1997, Alpine Oil Services (Argentina) generated revenue of $3.3 million CDN, and a net loss of $1.3 million CDN ($0.06 per share). While the opportunities of Argentina presented tremendous potential, the extended low oil price environment made the prospect of generating profits in Argentina in the near term exceedingly difficult. Proceeds from the sale are being reinvested in underbalanced drilling equipment, rotating blowout preventers and working capital. Alpine expects to continue experiencing very strong demand for underbalanced drilling and telemetry services in North America during the remainder of 1998 and throughout 1999. Management expects the strength of the Canadian natural gas market to assist the Company in achieving higher earnings per share than was achieved during 1997. Alpine Oil Services Corporation is an innovative, value-added energy services entity competing in the Canadian upstream oil and gas market. Internationally the Company is involved in the sale of its proprietary equipment. The various service lines offered by Alpine include: - Underbalanced surface pressure control equipment including a comprehensive software program, rotating blowout preventers, and downhole electronic data acquisition systems placed in the horizontal section for post-drilling operations evaluations; - Mechanical wireline and slickline services for downhole well completions, remedial and work-over operations, depth determination, deviated hole surveys, paraffin cutting, cementing operations, manipulation of downhole chokes, circulating plugs, gauge cutters, swaging tools, safety valves and gas lift valves; - Bottom hole pressure and temperature surveys utilizing six models of electronic subsurface pressure and temperature probes, downhole programmable shut-in tools and electronic fluid samplers; - Model 23B Telemetry Production Tools [TPT(TM)] used for reservoir evaluation, which are wireline set and retrievable; no other wireline company in North America offers these proprietary telemetry tools in conjunction with their wireline operations; - Pressurized frac recovery vessels used in conjunction with gas well stimulation services; - Model 23A and 23B Telemetry Cased and Open Hole Real-Time Drill Stem Testing Tools ; - Drill stem testing services in open and cased hole applications using inflate or conventional equipment for land operations, as well as cased hole annular pressure operated full opening drill stem testing tools used offshore. All drill stem testing tools are 5" O.D. and 3" O.D. for work in small diameter casing for deeper tests. Jason Krueger Finex Business Consultants Inc. krueger@cadvision.com tel: 403-208-3123