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

To: Kerm Yerman who wrote (12408)	9/22/1998 1:50:00 PM
From: SofaSpud	Respond to of 15196

MERGERS & ACQUISITIONS / Sunoma has over 90% of Barrington SUNOMA ENERGY CORP. ACQUIRES OVER 90% OF BARRINGTON PETROLEUM LTD. COMMON SHARES ÿÿÿ CALGARY, Sept. 22 /CNW/ - Sunoma Energy Corp. (''Sunoma'') announced today that it has taken up and paid for a total of 93% of the Common Shares of Barrington Petroleum Ltd. (''Barrington'') (TSE trading symbol: BPL), excluding those Common Shares held by Sunoma prior to the announcement of its Offer. This total includes the additional Barrington shares tendered during the extension of Sunoma's Offer.ÿ On a fully diluted basis, that is including Barrington's common share purchase warrants (''Warrants''), Sunoma has acquired 91% of the outstanding Common Shares and Warrants, excluding those Common Shares held by Sunoma prior to the announcement of its Offer. ÿÿÿ Having fulfilled the necessary requirements, Sunoma intends, in due course, to acquire the remainder of the Barrington common shares for $3.75 per common share pursuant to the compulsory acquisition provisions of the Alberta Business Corporations Act. In order to allow the remaining Barrington shareholders and warrantholders to receive payment in an expeditious manner, Sunoma has extended its Offer to 5:00 p.m. (Calgary time) on October 2, 1998 (the ''Expiry Time'').ÿ Sunoma does not intend any further extensions of its Offer. ÿÿÿ Warrantholders are reminded that the Warrants will expire on November 27, 1998.ÿ Following the Expiry Time, Sunoma will then be reviewing whether to take any further action towards acquiring Warrants not tendered prior to that time.ÿ Consequently, warrantholders who fail to tender their remaining Warrants prior to the Expiry Time will risk losing the consideration available to them under Sunoma's Offer - $0.07 per Warrant.ÿ Remaining warrantholders should tender their Warrants to the Offer prior to the Expiry Time so that they may avail themselves of the consideration being offered for the Warrants. ÿÿÿ -0-ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 09/22/98 For further information: Rick MacDermott, President and Chief Executive Officer, Sunoma Energy Corp., (403) 750-4400

To: Kerm Yerman who wrote (12408)	9/22/1998 1:58:00 PM
From: SofaSpud	Respond to of 15196

NORMAL COURSE ISSUER BID / KeyWest KEYWEST ENERGY CORPORATION CALGARY, Sept. 22 /CNW/ - KEYWEST ENERGY CORPORATION announces that it has implemented a normal course issuer bid through the facilities of The Alberta Stock Exchange. KeyWest's directors believe the issuer bid, by affording the Corporation the opportunity to buy back its own shares from time to time, will provide the benefit of additional liquidity to shareholders. KeyWest may employ the issuer bid whenever, in management's opinion, the market price of the Corporation's shares would warrant utilizing company funds for such purposes. For one year commencing September 24th, 1998, KeyWest may purchase up to 1,333,708 of its common shares, being approximately ten percent of the 13,337,089 shares comprising the public float, provided that no more than 2% of the issued shares will be purchased in any given 30 day period. All shares purchased under the issuer bid will be cancelled, thereby increasing the respective proportionate share interests of all remaining shareholders. KeyWest trades on The Alberta Stock Exchange under the symbol ''KWE''. THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. -30- For further information: Mary C. Blue, Executive Vice-President, (403) 261-2766

To: Kerm Yerman who wrote (12408)	9/22/1998 2:00:00 PM
From: SofaSpud	Respond to of 15196

EARNINGS / Devlan Q2 results DEVLAN EXPLORATION COMPANY LTD. - 1ST HALF RESULTS CALGARY, Sept. 22 /CNW/ - DEVLAN EXPLORATION COMPANY LTD. has reported increased production, revenue, cash flow and profit for the first half ended June 30, 1998. Net Production as of June 30, 1998 was 2,034 mcfd compared to 1,507 mcfd as of June 30, 1997, a 35% increase. Revenue net of royalties and surface leases (predominately derived from natural gas sales), increased by 36% for the six-month period to $456,028 from $334,989 for the six months ending June 30, 1997. Cash Flow from Operations increased by 30% to $318,108 for six months ending June 30, 1998 over the comparable period in 1997. As a result of the above-mentioned gains, Devlan delivered a Profit of $119,251 for the half, compared to $9,119 for the six months ending June 30, 1997. ------------------------------------------------------------------------- The production gains are primarily attributable to a property acquisition completed on April 01, 1998. This producing property (Iron Springs) consists of 10,490 net acres (7,300 net acres undeveloped) and generates 850 mcfd net. The new production is contracted at $2.23/GJ. In addition to the existing Iron Springs production, Devlan has identified six potential drilling locations within the contiguous acreage. These prospects make up Devlan's winter drilling program that will kick-off in Q4 1998. The program will target Bow Island shallow gas in the Keho/Iron Springs area. Two of the six wells are multi-zone, targeting not only Bow Island but also the Sunburst and Mississippian zones as well. Each zone will be tested upon penetration with a view toward dual completion of the two most prolific zones first. Based on historic information and results from surrounding properties, production from the Sunburst alone is expected to come on at 750 mcfd and level out at a sustained 500 mcfd. The focus of the program is to develop the recently acquired acreage and to capitalize on an optioned well that has been tested at 525 mcfd. This well and the wells to be drilled in the second stage of the drilling program will be tied in to the Devlan operated Keho Lake Gas Plant. As a result of Devlan's comprehensive experience in the area and the data gathered from previous drilling programs, the Company will employ under-balanced drilling technology for this program. This will increase the reserve life and enhance the deliverability of the reservoirs. As Devlan continues to develop and expand its core areas of Keho Lake, Iron Springs and Coaldale, this technology will be applied to other prospects. ------------------------------------------------------------------------- Devlan Exploration Company Ltd. Comparative Financial Data ---------------------------------------------------------- << Profit Profit/ Cash C.F./ Year Share Flow Share Revenue ---- ------ ------- ---- ----- ------- Q2 1998 $104,167 0.006 $208,976 0.012 $295,758 1997 $(37,136) -0.000 $122,876 0.009 $158,289 6 mths ended Jun-30 1998 $119,251 0.007 $318,108 0.018 $456,028 1997 $9,119 0.000 $244,751 0.017 $334,989 >> DEVLAN EXPLORATION COMPANY LTD. (DVX) is a Calgary, Alberta based company engaged in the business of oil and natural gas exploration and production. The Company's shares trade on the Alberta Stock Exchange. The ASE has neither approved nor disapproved of the information contained herein. %SEDAR: 00007704E -30- For further information: Bill Matheson, Devlan Exploration Company Ltd., (403) 233-7778, Website: www.devlanexpl.com