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

To: SofaSpud who wrote (12470)	9/24/1998 8:07:00 PM
From: Kerm Yerman	Read Replies (5) \| Respond to of 15196

PROPERTY DISPOSITION / Ocelot Energy Sells O.J. Pipelines CALGARY, Sept. 24 /CNW/ - Ocelot Energy Inc. announces that it has closed the previously announced sale of O.J. Pipelines to H.C. Price Co., a privately owned company from Dallas, Texas. In addition to receiving cash proceeds of $48.2 million, Ocelot Energy retains approximately $3 million of working capital. Proceeds from the sale will be initially placed against bank debt. Subsequent to closing, bank debt of the Company will be approximately $15 million. Nesbitt Burns acted as financial advisors to Ocelot Energy in the sale of O.J. Pipelines. Ocelot Energy Inc. is a publicly traded international energy company engaged in the exploration, production and marketing of oil and natural gas. Ocelot Energy's Class B Subordinate Voting shares and Class A Common shares are listed for trading on the Toronto, Montreal and Alberta stock exchanges under the symbols OCE.B and OCE.A, respectively. For further information on Ocelot, please visit our website at www.ocelot.ca.