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

To: SofaSpud who wrote (12352)	9/19/1998 8:14:00 AM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

ACQUISITIONS-MERGERS / Alberta Energy Mails Offer To Amber Energy Shareholders CALGARY, Sept. 18 /CNW/ - ALBERTA ENERGY COMPANY LTD. (''AEC'') said today that it has mailed its Offer to the holders of Amber Energy Inc. (''Amber'') to acquire all of the outstanding common shares of Amber, a Calgary-based oil and gas exploration and development company. The Offer will remain open for 21 days until 12:00 midnight local time on October 9, 1998. As announced on Tuesday, September 15, AEC is making an all-cash Offer of Cdn $7.00 per Amber common share. Alternatively, Amber common shareholders may elect to receive 0.215 AEC Common Shares for each Amber common share, up to an aggregate of 3.0 million AEC Common Shares. AEC's Offer represents a 54 percent premium to the closing price of $4.55 per Amber share on the last trading day prior to the public announcement by AEC of its intention to make the Offer. ''We intend to integrate Amber's assets into AEC's existing business units, in particular merging the Pelican Lake oil operations and Northeast Gas holdings into AEC East. These are concentrated, high working interest properties at an early stage of development that provide an excellent fit with our operations. This acquisition is consistent with AEC's operating strategy of controlling large, concentrated land blocks with substantial working interests. AEC is a logical purchaser of Amber because the Amber assets are essentially a hand-in-glove fit,'' said Gwyn Morgan, AEC's President and Chief Executive Officer. AEC MAILS OFFER TO AMBER ENERGY SHAREHOLDERS The Offer is conditional on at least 66-2/3% of Amber's outstanding shares being tendered, and on Amber's Board of Directors waiving its shareholder rights plan. The Offer will also be subject to other conditions customary in these types of transactions, including the absence of any material change in the business, operations, capital, asset base and management compensation arrangements previously publicly disclosed by Amber. RBC Dominion Securities Inc. and Peters & Co. Limited have been retained as financial advisors to AEC for the purposes of this transaction. Focused and growing, AEC is one of Canada's largest gas and oil exploration and production companies. Profitable Midstream investments in pipelines, as well as natural gas storage and gas liquids processing, provide an additional solid income base. AEC's current stock market value exceeds $3.7 billion. Common Shares trade on the Toronto and Montreal Stock Exchanges (AEC) as well as on the New York Stock Exchange (AOG). ------------------------------------------------------------------------- ADVISORY Certain information regarding the Company set forth in this document, including management's assessment of the Company's future plans and operations, may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with oil and gas exploration, production, marketing, and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserves estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external resources; as a consequence, actual results may differ materially from those anticipated in the forward-looking statements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. ------------------------------------------------------------------------- For further information: Gwyn Morgan, President and CEO, (403) 266-8112; Investor contact: Brian Ferguson, Director, Corporate Relations & Corporate Secretary, (403) 266-8113; Media contact: Dick Wilson, Director, Public Affairs, (403) 266-8127; Internet Address: aec.ca

To: SofaSpud who wrote (12352)	9/19/1998 8:17:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. NOTICE / Amber Energy Announces Appointment Of Fnancial Advisors CALGARY, Sept. 18 /CNW/ - Amber Energy Inc. announces that the Special Committee of the Board of Directors of Amber has appointed FirstEnergy Capital Corp. and Goldman, Sachs & Co. as the financial advisers to assist Amber in responding to the unsolicited offer announced by Alberta Energy Company Ltd. to acquire all of the outstanding shares of Amber. Amber, with the assistance of its financial advisers, intends to assess all of its strategic alternatives including the continuation of Amber's previously announced pipeline facilities and other asset disposition programs. The Board of Directors of Amber will report to all common shareholders of Amber in due course. Richard Lewanski, the President and CEO of Amber said: ''Amber management continues to regard the AEC offer as opportunistic and inadequate. Amber has received unsolicited inquiries from a number of interested parties concerning Amber and its assets, and management will work closely with Amber's financial advisers to assess its alternatives.'' Amber is an independent Canadian oil and gas exploration, development and production company with common shares trading on The Toronto Stock Exchange and The Alberta Stock Exchange under the symbol AMB.

To: SofaSpud who wrote (12352)	9/19/1998 8:35:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Mobil Canada Awarded Acerage On Grand Banks ST. JOHN'S, Nfld., Sept. 18 /CNW/ - Mobil Canada announced today that it has been awarded six new oil and gas exploration licences on the Grand Banks, offshore Newfoundland. Mobil holds between 30 and 50 per cent interest in the licences with Chevron Canada Resources, Norsk Hydro Canada Oil and Gas and Petro-Canada. The licences were awarded by the Canada-Newfoundland Offshore Petroleum Board (C-NOPB) after the companies made exploration expenditure commitments totalling $155 million (Cdn). Two of the licences are located in an area on the eastern edge of Canadian waters known as the Flemish Pass Basin. The other four licences are located within the Jeanne d'Arc basin where the majority of offshore production and development is currently concentrated. ''Mobil was very happy to be awarded all the licences on which we bid,'' said Andrew Adams, Vice-President of the company's new Newfoundland Business Unit. ''We're especially excited about new exploration licences in the Flemish Pass Basin. This expansion into deeper waters marks a milestone in the industry, where new technology is giving us additional opportunities to search for more oil and gas reserves.'' The new licences, which total more than 1 million acres (415,610 hectares), bring Mobil's total gross exploration acreage on the Grand Banks to 2.2 million acres (928,807 hectares). Current plans for the new areas include seismic surveys and exploratory drilling. The new licences are in addition to the eight licences on the Grand Banks held by Mobil and the other companies as a result of exploration licence awards in 1996 and 1997 by the C-NOPB that cover more than 1.2 million acres (513,197 hectares). Mobil has the largest energy portfolio in the Atlantic offshore oil and gas industry and leads in significant discoveries, reserves, production and active development. Mobil Canada is wholly owned by Mobil Corporation, which is headquartered in Fairfax, Virginia. Mobil Canada is headquartered in Calgary. The company has operations in British Columbia, Saskatchewan, Alberta, Newfoundland and Nova Scotia.

To: SofaSpud who wrote (12352)	9/19/1998 8:41:00 AM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

CORP. AFFAIRS / Canada Southern Petroleum Lawsuit Update CANADA SOUTHERN RESTS ITS CASE IN KOTANEELEE LAWSUIT CALGARY, Alberta, Sept. 18 /CNW/ -- Canada Southern Petroleum Ltd. (Nasdaq: CSPLF; Toronto/Boston/Pacific: CSW) said it has completed the presentation of its case against Amoco Canada and several other partners in the Kotaneelee gas field. Presentation of the defendants' side of the case commenced last Wednesday, the company said. According to a Canada Southern spokesman, the company presented evidence at trial that the monetary damages sustained by the company were approximately $100 Million (Canadian). The company's lawsuit, filed eight years ago, seeks damages and/or other relief for the defendants' breach of fiduciary duty in failing to market gas from the field, in which Canada Southern has a 30% carried interest.

To: SofaSpud who wrote (12352)	9/19/1998 8:48:00 AM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Merged Belair Energy & Granger Energy Announce Acquisition CALGARY, Sept. 17/ CNW/ - Granger Energy Corp. (''Granger'') and BelAir Energy Corporation (''BelAir'') announced today that Granger, concurrent with its proposed merger with BelAir, has signed agreements to purchase a portfolio of producing and non-producing reserves and undeveloped lands for a consideration of $2.94 million of which $1.08 million is evidenced by a promissory note due on January 5, 1999. The promissory note will be exchanged for 3 million Common shares of BelAir pursuant to the proposed merger of Granger and BelAir. The purchase includes approximately 250,000 boe of proved producing reserves, 200,000 boe of proved non-producing reserves, 41,500 net acres of undeveloped land in Alberta and 12,500 net acres of undeveloped land in Saskatchewan. The acquisition also includes access to approximately 950 kilometres of 2D seismic and 55 square kilometres of 3D seismic. The producing and non-producing properties include numerous well workover, recompletion, development drilling and tie-in opportunities. The undeveloped lands contain future exploration and exploitation opportunities. According to Murray D. Sears, President of Granger, ''This acquisition complements Granger's recently announced intention to seek shareholder approval to merge with BelAir to create a stronger, more competitive exploration and production company,'' Granger's shareholders will vote on the merger on October 29, 1998. With this acquisition, the merged company will have production in excess of 900 boepd, proven reserves of approximately 2.5 million barrels equivalent, proven plus probable reserves of over three million barrels equivalent, and an undeveloped land inventory of over 110,000 net acres. ''This undeveloped land position is significant for a company of our size and presents us with numerous exploration and development choices. We are well positioned for aggressive growth in the future'', states Victor M. Luhowy, President of BelAir. Granger Energy Corp. is a Calgary based oil and gas exploration and production company whose Class A, Class B and Class C shares trade on the Alberta Stock Exchange under the symbols GAS.A, GAS.B and GAS.C, respectively. BelAir Energy Corporation is Calgary based and is involved in the exploration and exploitation of petroleum reserves in Western Canada. BelAir is listed on The Alberta Stock Exchange and trades under the symbol BGY. The Alberta Stock Exchange has neither approved or disapproved the information contained herein. For further information: Murray D. Sears, President and Chief Executive Officer, Granger Energy Corp., (403) 237-0083; Victor M. Luhowy, President and Chief Executive Officer, or Ken MacRitchie, Vice President and Chief Financial Officer, (403) 265-1411

To: SofaSpud who wrote (12352)	9/19/1998 8:54:00 AM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

ASE REPORT / Cease Trade Orders Issued Against Airgen Corp & Templar Energy EDMONTON, Sept. 17 /CNW/ - Interim Cease Trade Orders Dated September 17, 1998 issued for 15 days against: "Airgen Corporation" A Man Called Intrepid Banff Brewery Corporation Channel i Canada Inc. Consolidated Rich Capital Corporation Fourseas Asialink Corporation Hot Touch Mattan Corporation Sogo Capital Inc. "Templar Energy Ltd." The Vivant Group Inc. Xinex Networks Inc. For failure to file certain financial information. Hearings have been set for October 1, 1998 at 9:30 a.m. at the Commission Office in Edmonton.

To: SofaSpud who wrote (12352)	9/19/1998 8:58:00 AM
From: Kerm Yerman	Respond to of 15196

CORP. NOTICE / Ridgeway Petroleum Declines Offer RIDGEWAY PETROLEUM CORP. CALGARY, Sept. 17 /CNW/ - Ridgeway Petroleum Corp.'s Management and Board of Directors have, after careful consideration, declined to accept the unsolicited proposal from an American group, announced December 19, 1997, to acquire a major stock position and assume management of the Company. The proposal, included the sale of certain petroleum properties to the Company for treasury shares, and was considered to be not in the best interests of the shareholders of the Company.

To: SofaSpud who wrote (12352)	9/19/1998 9:02:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

SERVICE SECTOR / Anadime Corp Closes California Acquisition CALGARY, Sept. 17 /CNW/ - Anadime Corporation (TSE: AEM) today announced that it has closed its acquisition of the Class 2 oilfield waste disposal and Class 1 non-hazardous industrial waste disposal assets of privately held Sherman and Weese of Bakersfield, California. Under the terms of the agreement, which was first announced on July 7, 1998, Anadime purchased 80 percent of the Bakersfield assets of Sherman and Weese. The acquisition makes Anadime the single leading provider of oilfield waste processing and disposal services in California, with licensed facilities in Ventura County and Kearn County. Anadime plans to fold the Sherman and Weese assets into its developing US division. Based in Calgary, Anadime Corporation is one of North America's top petroleum waste management companies and is a specialist in the processing of difficult oilfield emulsions and slop oils and the recovery of the associated oil. The company pursues projects where the combination of facility permits and/or technology give it a sustainable competitive advantage.