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

To: Kerm Yerman who wrote (12763)	10/9/1998 3:47:00 PM
From: SofaSpud	Respond to of 15196

CORP. / Calterra share distribution to Wheatland LP holders Calterra Resources Ltd. CALGARY, Oct. 8 /CNW/ - On October 1, 1998, Calterra Resources Ltd. (''Calterra'' or ''the Corporation'') closed its offer to holders of limited partnership interests in the Wheatland 1996 Limited Partnership (the ''Partnership'') to exchange their limited partnership interests for common shares of Calterra. Prior to giving effect to the exchange offer, Calterra's principle asset was a 33.33% interest in an advocacy program for freehold mineral rights owners in the Province of Alberta (the ''Program''). The Partnership held an 8.88% interest in the Program. All holders of limited partnership interests in the Partnership accepted the Corporation's offer. As a result, Calterra has issued 1,284,440 common shares to such holders and the Corporation's interest in the Program has increased to 42.21 %. The Corporation now has 6,641,640 common shares issued and outstanding on a fully diluted basis. A Filing Statement has been prepared and filed in accordance with the requirements of The Alberta Stock Exchange and may be inspected at the office of The Alberta Stock Exchange during its normal business hours. The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. -30- For further information: David Speirs, President of the Corporation, (403) 245-4400

To: Kerm Yerman who wrote (12763)	10/9/1998 3:48:00 PM
From: SofaSpud	Respond to of 15196

EARNINGS - SERVICE SECTOR / ICE Drilling Q2 results ICE Drilling Enterprises Inc. - Financial Results; Operational News CALGARY, ALBERTA--ICE Drilling Enterprises Inc. ("ICE") is pleased to report financial results for the three month period ended July 31, 1998. This first quarter of the fiscal year ending April 30, 1999 showed financial results typical of the "spring breakup" period of each year. Looking forward, ICE has actively been preparing the groundwork for continued growth to continue as leaders in the underbalanced drilling ("UBD") industry. /T/ ----------------------------------------------------------- Thousands of Canadian dollars unless otherwise noted. 3 months ended 3 months ended Percentage July 31, 1998 July 31, 1997 Change Revenues 1,133 912 +24 Net income (loss) (702) (79) -789 Cash flow (outflow) (542) 88 -716 Earnings (loss) per share ($/share) Basic (0.01) (0.01) 0 Cash flow (outflow) per share ($/share) Basic (0.01) 0.01 -200 Total assets 25,578 8,512 +200 Shareholders' equity 16,356 4,034 +305 Weighted average shares outstanding Basic 52,335 10,965 +377 Fully diluted 59,488 30,605 +94 Total shares outstanding Basic 52,335 10,965 +377 Fully diluted 62,348 30,927 +102 ------------------------------------------------------------- /T/ The lackluster financial results arose primarily from lower seasonal revenues for the "spring breakup" period combined with incremental business development costs incurred as ICE expanded its marketing and administrative capabilities to seize domestic and international opportunities to provide UBD services. These business development costs represent an investment which is expected to yield significant growth in both cash flow and earnings for the remainder of fiscal 1999 and beyond. ICE's capital expansion program, which will double the service capacity of the prior year, is well under way. By February 1999, ICE intends to have fourteen integrated UBD packages in the field. Current forecasts indicate cash flow and earnings per share of $0.16 and $0.07, respectively, on a fully diluted basis, for the current fiscal year ending April 30, 1999. Over the past three years, ICE has established itself as the largest primary UBD service provider of integrated UBD systems in Western Canada. Within the industry, worldwide demand for UBD services is growing steadily and ICE is responding to this demand, both domestically and internationally. OPERATIONAL NEWS ICE is pleased to announce the appointment of Mr. Jason Hager to the position of Manager of Engineering Services. Mr. Hager holds a Masters in Petroleum Engineering from the University of Wyoming, and he brings to the company expertise in all disciplines of petroleum engineering. Prior to joining ICE, Mr. Hager was Engineering Manager for a medium sized engineering firm. ICE is also pleased to announce the appointment of Mr. Steve Beaudet to the position of Sales Manager. Mr. Beaudet holds a B.A. in Economics and a diploma in Petroleum Technology, and he has extensive field and head office experience. Prior to joining ICE, Mr. Beaudet was a marketing representative specializing in UBD services for a Calgary-based service company. As of September 22, 1998, Matthew K. Swartout is no longer with the company. ICE is currently doubling capacity in anticipation of growing demand for UBD services in Canada, the United States and abroad. The addition of Messrs. Hager and Beaudet will significantly enhance ICE's operational depth in the areas of engineering and marketing. ANNUAL GENERAL MEETING ICE's Annual General Meeting of shareholders is scheduled for October 15, 1998 at 3:00 p.m. at The Westin (4th avenue and 3rd street S.W., Calgary, Alberta). All shareholders and prospective investors are welcome and encouraged to attend. -30- FOR FURTHER INFORMATION PLEASE CONTACT: ICE Drilling Enterprises Inc. Mr. James G. Todd President and Chief Executive Officer (403) 543-2790 (403) 543-2799 (FAX) icedrill@cadvision.com The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

To: Kerm Yerman who wrote (12763)	10/9/1998 3:49:00 PM
From: SofaSpud	Respond to of 15196

FINANCING / Edge private placement EDGE ENERGY INC. CLOSES PRIVATE PLACEMENT CALGARY, ALBERTA-- Edge Energy Inc. has closed a private placement of 436,965 common shares issued on a flow-through basis at a price of $3.15 per share. All of the common shares were purchased by employees, directors and consultants of Edge. Edge believes that share ownership by its employees is an important element in creating a corporate culture geared toward creation of shareholder value. The private placement was broadly placed with over 60% of employees participating. Employees, officers and directors now own approximately 27% of the issued and outstanding common shares of Edge. The Alberta Stock Exchange has neither approved nor disapproved of the contents of this press release. For further information contact Ken McNeill, Chief Executive Officer or Mark Behrman, Chief Financial Officer at (403) 269-3797.

To: Kerm Yerman who wrote (12763)	10/9/1998 3:50:00 PM
From: SofaSpud	Read Replies (4) \| Respond to of 15196

FINANCING / PROFAB closes IPO PROFAB ENERGY SERVICES LTD. ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING CALGARY, ALBERTA-- PROFAB Energy Services Ltd. ("Profab" or the "Corporation") is pleased to announce that on October 7, 1998, it completed its initial public offering of 3 Million Common Shares for gross proceeds of $1.5 Million. A portion of the capital raised will go to retire Profab's short-term debt. The common shares of Profab have been listed for trading on the Alberta Stock Exchange under the symbol "PFE", and were offered for sale by Yorkton Securities Inc. Profab is a Calgary based, Growth-Oriented company engaged in the business of Engineering, Designing and Fabricating Gas Compression, Gas Processing and Oil related Facilities in Western Canada. Further information can be obtained by contacting Fred Di Tomaso, president or Guiliano Tamburrino, Vice President, Business Development of the Corporation at 403-297-9238. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.