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 (12851)	10/15/1998 9:00:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 15196

MERGERS-ACQUISITIONS / Shareholders and Courts Approve Del Roca Energy and Tekerra Gas Merger ASE SYMBOL: DER AND TEKERRA GAS INC. VSE SYMBOL: TKG OCTOBER 15, 1998 CALGARY, ALBERTA--At Special Meetings of Shareholders held on October 9, 1998, the Shareholders of DEL ROCA ENERGY INC. ("Del Roca") and TEKERRA GAS INC. ("Tekerra") have voted in favour of amalgamating the two companies under the name of Del Roca Energy Ltd. The Court of Queen's Bench has also approved the Plan of Arrangement during a hearing on October 13, 1998. This merger was first announced July 9, 1998 and amended August 25, 1998. Shareholders of Tekerra will receive 0.6000 common shares of Del Roca Energy Ltd. per common share held in Tekerra and shareholders of Del Roca Energy Inc. will receive 0.29875 common shares of Del Roca Energy Ltd. per common share held. Del Roca Energy Ltd. will have approximately 12,640,000 common shares issued and outstanding, and will trade on the Alberta Stock Exchange. It is anticipated that the Amalgamation will be complete by October 31, 1998 at which time new share certificates of Del Roca Energy Ltd. will be distributed. Trading in the common shares of Del Roca Energy Ltd. will commence after approval of the new trading symbol has been obtained from the Alberta Stock Exchange. IN THE CASE OF TEKERRA GAS INC. MR. JOHN KINGSBURY IS RESPONSIBLE FOR THE INFORMATION CONTAINED HEREIN RELATING TO TEKERRA.

To: SofaSpud who wrote (12851)	10/15/1998 9:08:00 PM
From: Herb Duncan	Read Replies (4) \| Respond to of 15196

FIELD ACTIVITIES / Cabre Reports Success at Rabeh-2 Well, Egypt TSE SYMBOL: CBE OCTOBER 15, 1998 CALGARY, ALBERTA--Cabre Exploration (Cyprus) Limited ("Cabre"), wholly-owned by Cabre Exploration Ltd., is pleased to report that the Rabeh-2 well in the West Esh El Mallaha ("WEEM") Concession, Egypt spudded September 10, 1998, 500m from the 1997 discovery well Rabeh-1, and has been drilled to total depth of 6426' in basement strata. The well was subsequently logged, cased and tested initially through 50 feet of perforations in pre-Miocene Matulla sands. The well flowed 28.4 degrees API oil with minimal water and gas at 1630 B/D on a one-half inch choke. As the well is still cleaning up, a reliable production rate cannot yet be calculated. Testing of additional zones in the Matulla are planned. The Rabeh-2 well is also oil-bearing in the Miocene Nukhul formation, which is producing about 250 BOPD and equal volumes of water in Rabeh-1. Rabeh-1, which is some 120 feet structurally lower than Rabeh-2, tested 1570 BOPD from a different Matulla sand than tested in Rabeh-2. The Sante Fe drilling rig was released from the Rabeh-2 location and spudded the Abu Marwa North-1 well on October 13, 1998. This well is targeting a potential separate fault structure some 1.9 km to the southeast. At least two more wells will be drilled following Abu Marwa North-1. In 1998 over 200 Km2 of 3-D seismic and 400 km of 2-D data was shot. Interpretation of these data is scheduled by early 1999 and is expected to identify additional drilling targets. Production from the area is being trucked to tidewater. However, if sufficient volumes are established, a sales pipeline may be built by the Egyptian General Petroleum Corporation ("EGPC"). The operator of the WEEM Concession is ESHPETCO, a joint company set up by EGPC, Coplex (Egypt) Limited ("Coplex") and Cabre. Cabre and Coplex each hold a 50 percent interest in WEEM.

To: SofaSpud who wrote (12851)	10/16/1998 5:38:00 AM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Enerchem International Inc. Expands Operations CALGARY, Oct. 15 /CNW/ - Mr. Larry B. Phillips, President of Enerchem International Inc., an oil and gas specialty chemical company and equipment rental company serving the oil and gas industry announces that it has commenced construction of its $2.1 million dollar expansion at the ''Specialty Chemicals Group'' Nisku, Alberta facility. The expansion will include an extended rail spur, overhead loading and unloading facility, increased blending and chemical storage and a major expansion to the research and development laboratory. The yard and parking area will also be completely paved. Hood Technical Consultants Ltd. from Edmonton have been awarded the consulting contract and will oversee all aspects of the project. A $200,000 expansion at the Drayton Valley facility is also near completion. This expansion includes an extended land base, a new office and warehouse plus bulk chemical storage capability. The drum storage area has also been expanded and the yard area has been upgraded to handle heavy truck traffic. The Grande Prairie yard has been upgraded and fenced and a bulk chemical storage tank has been installed. An office and warehouse is planned to be constructed in the spring of 1999. These expansions have been necessary due to the increased demand for the many specialty chemical products that Enerchem produces for the oil and gas industry. Enerchem International Inc. operated under the ISO-9001 quality system for specialty chemicals. This guarantees the customer quality assurance in design, development, production, installation and service.

To: SofaSpud who wrote (12851)	10/16/1998 5:40:00 AM
From: Kerm Yerman	Respond to of 15196

CORP NOTICE / Petro-Canada Cuts Greenhouse Gas Emissions CALGARY, Oct. 15 /CNW/ - Petro-Canada reduced its greenhouse gas emissions in 1997, as documented in its annual progress report submitted today to the Voluntary Challenge and Registry. Data for 1997, summarized in the report, show that Petro-Canada cut total emissions of carbon dioxide and other greenhouse gases by 2.8 per cent from 1996, despite increased production of oil, natural gas and refined products. Specific initiatives in 1997 eliminated 79,800 tonnes of annual carbon dioxide equivalent emissions from ongoing operations. Measures of energy efficiency and carbon intensity per unit of production continued to improve. ''We are committed to continuing reductions in greenhouse gas emissions per unit of production,'' says President and Chief Executive Officer Jim Stanford in the introduction to the report. ''Given the potential consequences of climate change, Petro-Canada strongly supports responsible action by all countries and all segments of society to reduce emissions.'' Petro-Canada achieved lower emissions by upgrading equipment in its plants and improving operating practices. It plans further investment in energy efficiency in the years ahead, and looks to innovation to provide further greenhouse gas reductions. Looking beyond oil and gas to alternative fuels for the future, Petro-Canada is working with Iogen Corporation of Ottawa to commercialize technology to produce ethanol from biomass with very low net greenhouse gas emissions. Petro-Canada has been a strong supporter and participant in the Voluntary Challenge and Registry since its inception in 1995, because the Company believes voluntary action leads to the best solutions. ''Our challenge as a nation and as a global community is to find ways to reduce emissions while maintaining our standard of living and our prospects for economic growth,'' Stanford says. ''Voluntary choices will likely be the most economically efficient, minimizing negative impacts and maximizing benefits.'' Stanford urges all Canadian businesses and institutions to join in the Voluntary Challenge. Copies of Petro-Canada's 1998 Voluntary Challenge Progress Report are available from the contact below, or on the Company's website, www.petro-canada.ca. Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry. Its common and variable voting shares trade on Canadian exchanges under the symbol PCA, and its variable voting shares trade on the New York Stock Exchange under the symbol PCZ.