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

To: Herb Duncan who wrote (12800)	10/14/1998 11:30:00 AM
From: SofaSpud	Respond to of 15196

MERGERS & ACQUISITIONS / Redeco and Costilla Redeco - Letter of Intent Signed CALGARY, ALBERTA--Redeco Energy Inc. today announced that it has entered into a Letter of Intent with Costilla Energy Inc. of Midland, Texas whereby Costilla will acquire the operating assets of Redeco in exchange for cash and two non-cost bearing net profits interests. Included in the sale to Costilla will be Redeco Petroleum Company Limited, a wholly owned subsidiary of Redeco, which is awaiting final government approval of three concessions awarded to it in Romania. Also to be transferred by Redeco is a 3.5 percent royalty interest in the revenues from the concession in the Republic of Moldova held by a subsidiary of Costilla. In addition to cash, Redeco will receive a 12.5 percent net profits interest in the Romanian and Moldovan concessions after Costilla recovers certain costs. William C. Liedtke, Chief Executive Officer of Redeco said that the Costilla transaction represented the best opportunity for the Company to participate in the future potential of Romania and Moldova. "The deterioration of the capital markets for high risk, high reward exploration companies such as Redeco, made it imperative that we exchange some of the upside in the Company's current projects for a carried or non-cost position," said Liedtke. "Although this transaction may decrease the short term activity and asset base of the Company, management believes that, given the current situation and the intense capital requirements of these projects, over the long term this transaction gives us the best potential to share in future success." The final agreement contemplated by the Letter of Intent will be subject to due diligence by Costilla and to Redeco shareholder approval, since it deals with substantially all of the assets of Redeco. Redeco is listed on the Alberta Stock Exchange under the symbol "RE". -30- FOR FURTHER INFORMATION PLEASE CONTACT: Redeco Energy Inc. Gordon T. Noland Chief Financial Officer (403) 640-9797 (403) 216-1404 (FAX)

To: Herb Duncan who wrote (12800)	10/14/1998 11:31:00 AM
From: SofaSpud	Respond to of 15196

EARNINGS / Murphy Oil conference call Murphy Oil Announces Conference Call EL DORADO, ARKANSAS--Murphy Oil Corporation will hold a conference call at 10:00 a.m. (CDT) on Wednesday, October 21 to review third quarter 1998 earnings which will be announced the preceding afternoon. Arrangements are being handled by Frontier ConferTech. Interested parties may participate in the call by dialing 1-800-633-8581. The reservation number is 4722314. For those unable to participate, a recording of the call will be available until 5:00 p.m. (CDT) October 22, by dialing 1-800-633-8284. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Murphy Oil Corp., El Dorado Kevin G. Fitzgerald (870) 864-6272 murphyoilcorp.com