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


To: Kerm Yerman who wrote (11985)8/5/1998 11:22:00 AM
From: SofaSpud  Respond to of 15196
 
CORP. / Black Sea legal update

BLACK SEA ENERGY LTD. ANNOUNCES RUSSIAN LEGAL PROCEEDINGS UPDATE

ÿÿÿ CALGARY, Aug. 5 /CNW/ - Further to the Company's press release of July
15, 1998, Black Sea reports that discussions with Tyumen Oil Company (''TOC'')
are continuing.
ÿÿÿ The legal proceedings commenced in the Russian arbitration court against
Tura Petroleum Limited have been further postponed until October 1, 1998.
ÿÿÿ Tura Petroleum Limited is a Russian Joint Stock Company, 50% owned
indirectly by Black Sea Energy Ltd. and 50% owned by Tyumenneftegaz, a 51%
subsidiary of TOC.
ÿÿÿ -0-ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 08/05/98

For further information: Gerry Burrows, President & CEO, (403) 269-2871 or Peter Meredith, Director, (604) 688-7166