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

To: SofaSpud who wrote (12799)	10/13/1998 5:59:00 PM
From: Herb Duncan	Read Replies (2) \| Respond to of 15196

FIELD ACTIVITIES / Benz Triples Production At Oak Hill Field VSE SYMBOL: BZG OCTOBER 13, 1998 HOUSTON, TEXAS--Benz Energy Ltd. today announces a 308 percent increase in daily production from 1.7 MMCFE to 5.2 MMCFE at its Oak Hill Field in Gregg and Rusk Counties, Texas. The company recompleted and fracture stimulated a total of 11 zones in 6 wells to increase production levels from their original daily rate in January when the field was purchased. This production increase corresponds to an increase in net revenues of approximately $128,000 per month. Benz operates the field and owns an average 89 percent working interest. Benz President, Ernest J. LaFlure commented, "Our efforts at Oak Hill demonstrate the benefits that can be gained from modern fracture stimulation techniques, which is a significant component of our program. We expect to further increase production later this month by co-mingling several zones." Benz Energy Ltd. is an exploration and development company based in Houston, focused on natural gas in the U.S. Gulf Coast of Texas, Mississippi, and Louisiana. Cautionary Statement as to Forward-Looking Information Investors are cautioned that the preceding statements of the company include certain estimates, assumptions and other forward-looking information ("forward-looking statements (information)"). The actual future performance, developments and/or results of the company may differ materially from any or all of the forward-looking statements (information), which include current expectations, estimates and projections, in all or part attributable to general economic conditions and other risks, uncertainties and circumstances partly or totally outside the control of the company, including rates of inflation, natural gas prices, reserve estimates, drilling risks, future production of oil and gas, changes in future costs and expenses related to oil and gas activities and hedging, financing availability and other risks related to financial activities.

To: SofaSpud who wrote (12799)	10/13/1998 6:04:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Lundin Oil Subsidiary Sodra Petroleum Finishes First Well in Tranche F Offshore Falklands STOCKHOLM STOCK EXCHANGE: LOIL B TSE SYMBOL: LOI NASDAQ SYMBOL: LOILY OCTOBER 13, 1998 VANCOUVER, BRITISH COLUMBIA--Lundin Oil AB (the "Company") announces that the first well, 14/24-1 in Tranche F offshore the Falkland Islands has been terminated at a total depth of 9,642 feet (2,938 metres). The well encountered several oil source rock intervals and porous sandstone, but did not encounter any oil or natural gas. The drilling rig Borgny Dolphin now moves onto Tranche A to drill a second well for Amerada Hess and then on to Tranche B to drill a second well for Shell. Following the completion of this well, Sodra has sufficient funds to drill a second well on another prospect in Tranche F. The timing and extent of Sodra's future work program will be decided after the evaluation of data from this well and other wells in the region have been completed. Sodra Petroleum is the operator and holds a 87.5 percent interest in Tranche F. Desire Petroleum Plc holds the remaining 12.5 percent. Sodra Petroleum is a 50 percent owned subsidiary of Lundin Oil. Sodra's class of convertible shares are listed on the New Market of the Stockholm Stock Exchange and on the Alternative Investment Market of the London Stock Exchange.

To: SofaSpud who wrote (12799)	10/13/1998 6:06:00 PM
From: Herb Duncan	Respond to of 15196

FIELD ACTIVITIES / Sharpe Successfully Completes First Well on The Matagorda Gas Project ME SYMBOL: SHO OTC Bulletin Board SYMBOL: SHGPF OCTOBER 13, 1998 HOUSTON, TEXAS--SHARPE RESOURCES CORPORATION is pleased to announce it has successfully drilled and completed the first well on its 100 percent owned Matagorda Gas Project. Well 582-5 was completed to 7,743 feet measured depth within the 582-gas unit. The vertical depth is 6,400 feet. The results of this work confirm four producible Miocene gas sand reservoirs in this well from the M-1 (6,458'), M-5 (7,148'), M-6 (7,312') and M-7 (7,148') zones. Each of the four (4) zones were dually completed. Initial production rates for the M-7 are 4.5 MMCFPD at a flowing tubing pressure of 1,660 psi through 2 3/8 inch tubing with the M-5 at 4.7 MMCFPD at a flowing tubing pressure of 2,160 psi through a 2 3/8 inch tubing. The M-6 and M-1 zones are selective completions for future production when the currently producing zones are depleted. Flow test results, i.e., improving flowing tubing pressures, confirm our expectations that this will produce approximately 10 million cubic feet per day from the M-7 and M-5 reservoirs. An in progress two well recompletion program should add significantly to the current production rate from Matagorda. This latest development has increased the total daily production at Matagorda from 1.3 MMCFPD to 10.2 MMCFPD. The gas price for October is US $2.14/MCF. The company is currently evaluating the shallow (2,000'-5,000') gas potential for the State of Texas 571, 582 and 444 offshore leases. Plans include detailed evaluation of the shallow gas sands in this area with the 2-D and 3-D seismic data. This area offers very good potential to increase reserve potentials of between 4-6 bcf in the vicinity of the main 582 production platform. The company will expand the 3-D seismic evaluation to include the balance of the currently held leases later in the year. Additionally, the company will test two attic reserves on the 582 and 483 leases, possibly as the next two drilled wells on the property. This effort is expected to access an additional 3-5 bcf of reserves per location in 1998. Plans include drilling up to 2-3 additional wells within the 582 and 483 gas fields. This program is designed to increase and maintain a production rate of approximately 15-16 MMCFPD for the property within the next 2-4 weeks. Sharpe Resources Corporation cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of gas and oil prices, product demand, market competition, imprecision of gas and oil estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.

To: SofaSpud who wrote (12799)	10/13/1998 9:15:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / BADGER DAYLIGHTING INC./ Badger Daylighting Announces 1998 Third Quarter Financial Results RED DEER, AB, Oct. 13 /CNW/ - Badger Daylighting Inc., (''Badger'', the ''Corporation'') is pleased to report its unaudited financial results for the nine-month period ended August 31, 1998. (Millions of $CDN, unless noted) 1998 1997 Change Revenues $ 60.2 $ 15.4 + 290% EBITDA $ 18.6 $ 3.1 + 500% Net Income $ 6.9 $ 1.3 + 431% Weighted Average Number of Shares 15.7 11.1 (millions of shares) Basic E.P.S. (dollars per share) $ 0.44 $ 0.11 + 300% Cash flow per share from operations (dollars per share) $ 0.80 $ 0.26 + 207% Capital Expenditures $ 18.4 $ 6.4 + 188% Net income for the nine-month period year ended August 31, 1998 was $6.9 million as compared to $1.3 million in the same period of 1997. Revenues for the nine months of 1998 were $ 60.2 million, an increase of more than 290% over 1997. Basic earnings per share for the nine months ended August 31, 1998 were $0.44, an increase of 290% compared to $0.11 in the first nine months of 1997. Ken Rose, President and CEO of Badger commented on the company's future. ''Badger continues to be positioned for growth. Our balance sheet is strong, we have excellent services and people and there are enormous expansion opportunities in front of us. These opportunities will be capitalized in two key ways. Firstly, geographic expansion into the United States and secondly, expansion into the industrial and utility sectors.'' Badger Daylighting Inc., is a Red Deer, Alberta - based vertically integrated industrial technology company providing various services and equipment to the oil and gas, pipeline and utilities industries. The Corporation specializes in ''daylighting'' underground structures and trenching using a patented hydrovacing process that is safer than conventional mechanical excavation systems. ''Daylighting'' is a term used in the industry to describe the removal of the soil cover to allow visual observation of an underground structure. A hydrovac excavating system is one which simultaneously uses water under high pressure to remove soil cover and a vacuum system to suck up the debris. In addition to hydrovac services, Badger provides a complimentary suite of products and services to it's customers including small inch pipeline facilities and construction, pipeline anomaly locating, line locating, shoring and designing and manufacturing industrial equipment.