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: SofaSpud who wrote (12698)	10/7/1998 6:26:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Participants Update Status of Bellevue #1 Well on the East Lost Hills Prospect in the San Joaquin Basin of California TSE SYMBOL: ELK AND ARMSTRONG RESOURCES, LLC AND BERKLEY PETROLEUM CORP. TSE SYMBOL: BKP AND HILTON PETROLEUM LTD. VSE SYMBOL: HTP AND KOOKABURRA RESOURCES LTD. TSE SYMBOL: KOB AND PARAMOUNT RESOURCES LTD. TSE SYMBOL: POU AND PYR ENERGY CORPORATION OTC Bulletin Board SYMBOL: PYRX AND RICHLAND PETROLEUM CORP. TSE SYMBOL: RLP AND STANFORD OIL & GAS LTD. VSE SYMBOL: SOG AND WESTMINSTER RESOURCES LTD. TSE SYMBOL: WML OCTOBER 7, 1998 CALGARY, ALBERTA--At the request of the Toronto Stock Exchange, Elk Point Resources Inc., on behalf of its subsidiary Bellevue Resources Inc., the operator of the Bellevue #1 well at East Lost Hills, California, and the working interest owners in the well advise that drilling operations on the well are still in progress. The well is at a measured depth of 17,270 feet having previously been sidetracked at a depth of 11,835 feet. The group anticipates continuing drilling operations to an estimated total depth of 18,500 feet. The well is being drilled on a confidential basis.

To: SofaSpud who wrote (12698)	10/7/1998 6:29:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Colt Energy Inc.: Keywest Energy Increases Investment Clout ASE SYMBOL: COE AND KEYWEST ENERGY CORPORATION ASE SYMBOL: KWE OCTOBER 7, 1998 CALGARY, ALBERTA-- Increase cash reserves will enable new venture of Jordan Petroleum founders to seek oil and gas opportunities KEYWEST ENERGY CORPORATION and COLT ENERGY INC. today announced they have entered into a letter of intent with respect to the proposed business combination of their two companies. The proposed business combination will be effected by way of a share exchange implemented by a Plan of Arrangement whereby Colt will become a wholly-owned subsidiary of KeyWest and the resulting entity will continue operating as KeyWest Energy Corporation. The share exchange provides that KeyWest will acquire all of the issued and outstanding common shares of Colt based on one common share of KeyWest for every 1.65 common shares of Colt. Colt currently has approximately 21.5 million common shares issued and outstanding and KeyWest currently has approximately 19.2 million common shares issued and outstanding. Colt's assets comprise cash of approximately $8.1 million and oil and gas properties valued at $750,000. Upon completion of the proposed transaction KeyWest will have cash of approximately $19.5 million, oil and gas assets of $750,000, no debt and approximately 32.2 million common shares outstanding. This will put KeyWest in a unique position to pursue oil and gas mergers, property acquisitions and drilling opportunities in the coming months, and is consistent with KeyWest's stated business strategy. Following completion of the transaction Messrs. Alain Lambert and Lyle D. Schultz will be joining the KeyWest board of directors. KeyWest board currently consists of Ronald L. Belsher, Mary C. Blue, John J. Brown, David Crevier, Hugh Mogensen, Harold V. Pedersen and J. Ronald Woods. The President of KeyWest is Harold V. Pedersen, co-founder and former President of Jordan Petroleum Ltd. until its sale in December 1997. Mr. Pedersen's two Jordan co-founders, Mary C. Blue and Garry L. West, are also now at KeyWest in the respective capacities of Executive Vice-President and Vide-President of Engineering & Production. Jordan Petroleum was founded in 1986 with an initial capitalization of $65,000 at 10 cents per share and was sold last year at $9.80 per share, for a total value of $435 million. The letter of intent is subject to receipt of all necessary regulatory approvals, the entering into of a definitive arrangement agreement, the receipt of Colt's shareholder approval by December 15, 1998 and certain other standard conditions including completion of due diligence. The letter of intent also provides for a reciprocal break fee between the parties of $400,000 in the event that either party withdraws from the arrangement. Griffiths McBurney & Partners are acting as financial advisors with respect to this transaction. THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN.

To: SofaSpud who wrote (12698)	10/7/1998 6:33:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

DIVIDENDS / Murphy Oil Declares $.35 Per Share Quarterly Dividend TSE SYMBOL: MUR.U NYSE SYMBOL: MUR OCTOBER 7, 1998 EL DORADO, ARKANSAS--The Board of Directors of Murphy Oil Corporation today declared a quarterly dividend of $.35 a share on the Common Stock of Murphy Oil Corporation. The dividend is payable December 1, 1998 to holders of record November 13, 1998.

To: SofaSpud who wrote (12698)	10/7/1998 6:39:00 PM
From: Herb Duncan	Read Replies (3) \| Respond to of 15196

FINANCING / Thunder Energy Inc. Announces Flow-Through Share Offering TSE SYMBOL: THY OCTOBER 7, 1998 CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) today announced its intention, subject to regulatory approval, to sell up to a maximum of 1,500,000 flow-through common shares of the Company at an anticipated subscription price of $2.00 per share. The shares will be issued pursuant to exemptions from the registration and prospectus requirements of Canadian securities laws. Marketing of the shares by the Company and its agents will be on a best effort basis. The Company expects to have one or more closings of the offering prior to year-end. Anticipated gross proceeds of $3,000,000 will be used to fund Thunder's 1998/1999 drilling programs. The Company anticipates drilling 8 (4 net) wells in the forth quarter and up to 50 (25 net) wells in 1999. Six of the eight wells to be drilled in the fourth quarter will target natural gas while approximately 65 percent of 1999 program will be natural gas related. Thunder Energy is a Calgary-based oil and gas exploration company operating in Alberta. Current production is estimated at 1,000 bopd and 10 mmcfpd. Thunder's shares are traded on the Toronto Stock Exchange under the trading symbol "THY". The flow-through common shares have not been and will not be registered under the United States Securities Act of 1933 and, as a result, these securities may not be offered or sold within the United States. Visit our website at www.thunderenergy.com

To: SofaSpud who wrote (12698)	10/7/1998 6:41:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Fortune Energy Inc. Adds Board and Special Committee Member TSE SYMBOL: FEY OCTOBER 7, 1998 CALGARY, ALBERTA--Fortune Energy Inc. ("Fortune") is pleased to announce that Mr. Robert J. Chenery has been appointed to the Board of Directors of Fortune. Mr. Chenery has also been appointed as an additional member to a Special Committee of the Board. The Special Committee's mandate, among other things, is to advise the Board of Directors with respect to negotiations which could lead to a "going private" transaction. In addition, Fortune is pleased to announce that with regard to this transaction of Burstall Ward has been engaged as independent legal counsel and Sayer Securities Limited have been engaged to provide a valuation and fairness opinion. 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.