Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerm Yerman who wrote (12467)	9/24/1998 1:19:00 PM
From: SofaSpud	Respond to of 15196

FINANCING / Remington flow-through issue REMINGTON ENERGY LTD. ANNOUNCES FLOW-THROUGH SHARE OFFERING CALGARY, Sept. 24 /CNW/ - Remington Energy Ltd. (''Remington'') announces that it has entered into an agreement to issue, subject to regulatory approval, up to 2,000,000 flow-through common shares on a private placement basis. The flow-through common shares will be issued as to 1,500,000 shares ($15 million) on a ''bought deal'' basis and 500,000 ($5 million) shares on a ''best efforts'' agency basis. Proceeds from the offering will be used to fund exploration expenditures and Remington will renounce to subscribers Canadian exploration expense equal to the subscription amount for the flow-through common shares. -30- For further information: Paul R. Baay, President & C.E.O., Or Stan G. Weber, (403) 269-9309

To: Kerm Yerman who wrote (12467)	9/24/1998 1:25:00 PM
From: SofaSpud	Read Replies (2) \| Respond to of 15196

MERGERS & ACQUISITIONS / Profco PROFCO RESOURCES LTD. CALGARY, Sept. 24 /CNW/ - GHP Exploration Corporation (''GHP.U'' - TSE) and Profco Resources Ltd. (''PSO'' - TSE) announce that they are currently negotiating a share exchange merger transaction. The share exchange ratio has not been set, and will be disclosed when final terms have been agreed upon. It has been agreed that Barry D. Lasker, President and CEO of GHP, will be the President and CEO of the merged company. Completion of any merger transaction will be subject to various conditions, including satisfactory completion of due diligence, execution of definitive agreements, approval by the shareholders of Profco and GHP, and obtaining all necessary regulatory approvals. Profco currently has approximately 34.5 million common shares outstanding, which trade in Canadian dollars, and GHP currently has approximately 21.8 million common shares outstanding, which trade in United States dollars. The combined company will have diverse assets located in Texas, the Gulf of Mexico, Nigeria, Egypt and Tunisia. The Toronto Stock Exchange has neither approved nor disapproved the text of this news release. -30- For further information: John J. Fleming, Chairman, President and Chief Executive Officer, Profco Resources Ltd., (403) 262-5600; Barry D. Lasker, President and Chief Executive Officer, GHP Exploration Corporation, (713) 626-9373