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

To: Kerm Yerman who wrote (12377)	9/19/1998 9:04:00 AM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / TUSK Releases Information on Strachan Prospect TSE SYMBOL: TKE SEPTEMBER 18, 1998 CALGARY, ALBERTA--TUSK Energy Inc. ("TUSK") and its partners are pleased to announce that they have made the first significant Swan Hills/Beaverhill Lake natural gas discovery between the Caroline and Blackstone-Hanlan areas in the foothills of Alberta. The partners have elected to release certain information on the status of the Strachan 2-22-38-09 W5M well (TUSK 10 percent BPO, 30 percent APO) following the completion of production testing and a series of Crown P&NG sales in the immediate area. The 2-22 (formerly 3-22) encountered 14 metres of porous dolomitized reef during drilling operations in late April. During the summer months the well was acid stimulated and initial production testing of the Swan Hills has now been completed. During the production test the well flowed at raw gas flow rates up to 10 MMcfd. The final tested rate was 4.8 MMcfd on a 5/16" choke with a wellhead flowing pressure of 2375 psig. Surveying and permitting for the tie-in of the well to the Strachan gas plant will begin shortly with an expected onstream date of January 1, 1999. TUSK reported previously (April 17, 1998) that the well did not encounter the Leduc (D-3) formation which had been the primary target at this location. However, the well has encountered a new natural gas reservoir in the Swan Hills formation. The geophysical and geological interpretation for the prospect area, which takes into account information from the well, suggests that the Swan Hills was not drilled in the optimum location. The first development well for the Swan Hills zone is expected to be drilled during the first part of 1999. Based upon penetration rates, gas detector readings and wireline logs, a number of shallow zones (Mississippian, Lower Mannville) appear to contain hydrocarbons in the 2-22 well. Unfortunately, no tests of these potential zones were possible in the existing well due to wellbore problems. A shallow well, to access these reserves, is expected to be drilled in late 1998 or early 1999. Including the September 16th Crown P&NG sale, TUSK now owns an average 30.2 percent working interest (10 percent to 60 percent) in a total of 27 contiguous sections on this play (17,280 gross acres, 5,225.5 net acres).

To: Kerm Yerman who wrote (12377)	9/19/1998 9:18:00 AM
From: Herb Duncan	Read Replies (8) \| Respond to of 15196

FIELD ACTIVITIES / Petroflow Participating in Chamberlain Gas Well CDN SYMBOL: PFNG.A SEPTEMBER 18, 1998 HUBBARDS, NOVA SCOTIA--Petroflow Energy Ltd. ("Petroflow") says that it is a participant in the drilling of a recently spudded exploratory natural gas well in the Chamberlain area near Edmonton, Alberta. The Chamberlain project, in which Petroflow holds a 12.5 percent working interest and Tier One Energy Corp. is the operator, encompasses both oil and natural gas targets. In June 1998 the first horizontal oil well was completed to test the 27 degrees API Chamberlain oil pool, and successfully identified a minimum of three million barrels of original oil in place based on independent engineering evaluations. This prolific well commenced production June 7, 1998 and over its first 60 days of production averaged 310 barrels of oil per day with a 15 percent water cut. Original exploration wells at Chamberlain in the 1950's tested natural gas between three to five million cubic feet per day from 10 feet of pay within the Ostracod Sand. Construction of a battery is underway to treat and handle oil production from the Chamberlain Project and additional wells are planned to further exploit the potential of these oil and natural gas reserves. Petroflow is an emerging junior oil and gas company, the Class A shares of which are quoted and traded on the Canadian Dealing Network under the symbol "PFNG.A"

To: Kerm Yerman who wrote (12377)	9/19/1998 9:22:00 AM
From: Herb Duncan	Respond to of 15196

CORP / Fortune Energy Inc. Receives Verbal Proposal TSE SYMBOL: FEY SEPTEMBER 18, 1998 CALGARY, ALBERTA--Fortune Energy Inc. ("Fortune") announces that it has entered into negotiations with Fortune Equity Inc. ("Fortune Equity"), a corporation which directly owns, together with its associates and affiliates, approximately 80 percent of the outstanding common shares of Fortune, which could lead to a "going private" transaction of Fortune, whereby Fortune Equity would acquire for cash all of the outstanding Fortune shares which it does not presently own. The Fortune Board of Directors has established an independent Special Committee of the Board, which is in the process of engaging legal and financial advisors, to consider and negotiate the terms of any such transaction. Mr. J. Rene Rosales, President of Fortune, has been appointed as the Chairman of the Special Committee. Mr. Rosales has stated that "Fortune will be communicating with its shareholders promptly as further information becomes available". Fortune is an independent Canadian oil and gas exploration, development and production company with common shares trading on The Toronto Stock Exchange under the symbol FEY.