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

To: Kerm Yerman who wrote (12417)	9/23/1998 12:00:00 PM
From: SofaSpud	Respond to of 15196

FINANCING / Oiltec closes private placement OILTEC CLOSES ITS FLOW-THROUGH PRIVATE PLACEMENT CALGARY, Sept. 23 /CNW/ - Oiltec Resources Ltd. (TSE:OLT) reports that on September 18, 1998 it closed its private placement of flow-through shares. Gross funds of $1,144,940 were raised through the sale of 602,600 shares priced at $1.90 each. No commissions were paid and there is a one-year hold on the shares. The funds will be applied to Oiltec's ongoing exploration. -30- For further information: Mark Mawdsley, President & C.O.O., (403) 266-2988, Email: mmawds@oiltec.spots.ab.ca

To: Kerm Yerman who wrote (12417)	9/23/1998 12:02:00 PM
From: SofaSpud	Respond to of 15196

FINANCING / Big Horn private placement BIG HORN RESOURCES LTD. (''BGH'') CALGARY, Sept. 23 /CNW/ - Big Horn Resources Ltd. (''Big Horn'') announces that it has reached agreement with three arm's length purchasers to issue, subject to receipt of regulatory approval, 10,000,000 Common Shares at a price of $0.65 per Common Share for aggregate proceeds of $6,500,000. Proceeds of the private placement will be used to finance Big Horn's ongoing oil and gas exploration and development program and for potential acquisitions. Canaccord Capital Corporation acted as Big Horn's agent in connection with the private placement. Big Horn also announces that The Toronto Stock Exchange has conditionally approved the listing of its Common Shares. Big Horn is a junior oil and gas company trading on the senior board of the Vancouver Stock Exchange under the symbol BGH. THE VANCOUVER STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THE INFORMATION CONTAINED HEREIN. -30- For further information: Reg Greenslade, President and Chief Executive Officer or Mr. Luc Chartrand, Chief Financial Officer, (403) 263-0262

To: Kerm Yerman who wrote (12417)	9/23/1998 12:03:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / CanOxy Nigeria production CANADIANOXY ANNOUNCES FIRST OIL PRODUCTION IN NIGERIA CALGARY, Sept. 23 /CNW/ - Canadian Occidental Petroleum Ltd. (CXY-TSE, ME, AMEX) announced today that first oil began flowing at the Ejulebe Field in Nigeria. The EJ-3 development well is currently flowing into the CanadianOxy built production facilities, which are connected to the Ukpokiti Storage and Tanker Loading Terminal. The Ejulebe Field is located off the coast of Nigeria in water depth of approximately 45 feet, with reservoirs at depths between 6,000 and 8,000 feet. Four high-capacity production wells and one water injection well have been drilled to deplete the field. All production facilities have been commissioned and testing will continue over the next several weeks prior to achieving full commercial production rates of 10,000 barrels of oil per day in October. Commenting on the achievement, Victor Zaleschuk, President and CEO said, ''Our success with the Ejulebe development has provided us with a stepping stone to even greater opportunities offshore Nigeria. Earlier this year, we significantly expanded our acreage position by acquiring an interest in two offshore blocks where we are currently drilling two deep wells. We believe this prolific oil-prone region has the potential to develop into another core area for us similar to our operations in Yemen.'' CanadianOxy is an independent, Canadian-based global energy and chemicals company. Core business activities include the exploration, development, production and marketing of crude oil and natural gas. CanadianOxy is Canada's second largest oil and gas producer with a daily output of approximately 240,000 barrels of oil equivalent. -30- For further information: Una Power, Manager, Investor Relations, (403) 234-6994