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

To: Kerm Yerman who wrote (12875)	10/17/1998 8:06:00 AM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Rockport Energy Mails Offer and Circular ASE SYMBOL: RPT OCTOBER 16, 1998 CALGARY, ALBERTA--Rockport Energy Corporation ("Rockport") confirmed today that on October 13, 1998 it mailed its take-over bid offer (the "Offer") and circular to all registered holders of issued and outstanding common shares of Liberty Oil & Gas Ltd. ("Liberty"). The Offer is on the basis of 4.8696 Common Shares of Rockport for each Common Share of Liberty and expires at 4:30 p.m. (Calgary time) on November 5, 1998 unless extended or withdrawn. The Board of Directors of Liberty has approved the proposed Offer and has agreed to recommend that Liberty shareholders accept the Offer. The Offer is conditional upon at least 90 percent of the Liberty shares being deposited under the Offer and is subject to other conditions including Liberty having completed a financing to raise gross proceeds of not less than $1,000,000 and up to $2,000,000 at a price per share of $0.6817 (which securities are subject to the Offer and will be exchanged on the same basis as described above) and approval of the shareholders of Rockport to the transaction at the special meeting of such shareholders scheduled for October 28, 1998. As stated in Rockport's press release of August 4, 1998, trading in the Common Shares of Rockport has been halted pursuant to regulatory requirements since such time. Trading in the Common shares of Rockport is anticipated to resume on October 19, 1998.

To: Kerm Yerman who wrote (12875)	10/17/1998 8:11:00 AM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Technology Partnerships Canada Investment Promotes Sustainable Development in Deep Oil Sands Extraction OCTOBER 16, 1998 CALGARY, ALBERTA--A $1.3 million Technology Partnerships Canada (TPC) repayable investment is set to create jobs and fuel development of new technology to enable Canada to capitalize on the world's largest oil deposit. Justice Minister Anne McLellan, on behalf of John Manley, Minister of Industry, made the announcement of the federal investment in a Northstar Energy Corporation project today in Calgary. The project involves developing a water recycling technology that will remove environmental and economic barriers to heavy oil production using the steam-assisted gravity drainage (SAGD) system. Located at Fort McMurray, Alberta, the project is expected to create up to 56 jobs when commercial operations begin. "This promising technology will be of tremendous benefit to small oil sands producers here in Western Canada -- spurring both job creation and economic growth," said Minister McLellan. "The federal government is proud to be a partner in such an innovative project, one which promotes sustainable development by lowering production costs and reducing environmental impacts." With SAGD, steam injected into the formation from a horizontal well decreases the viscosity of the heavy oil and allows it to flow to a second parallel well where it is piped to the surface. This process uses the equivalent of three barrels of steam to produce one barrel of heavy oil. Three barrels of oily water are also produced which are currently disposed of in underground wells. The technology being developed by Northstar will enable operators to reclaim and reuse this water. Northstar is the majority shareholder and operator of the Underground Test Facility (UTF), an oil sands project established in 1987 by the Alberta Department of Energy through the Alberta Oil Sands Technology and Research Authority (AOSTRA), which is still responsible for licensing technology from the project. The UTF is located on one of the largest heavy oil reservoirs in the Athabasca region of northern Alberta. Like a majority of the oil sand resources, the UTF heavy oil is located in a formation that is too deep for surface mining. To extract this resource, the SAGD technology was developed by AOSTRA. Northstar Energy Corporation, headquartered in Calgary, Alberta, is a Canadian company engaged in petroleum and natural gas exploration and production. The firm employs 450 people. Technology Partnerships Canada is a key element in the government's strategy to promote economic growth and job creation through innovation, positioning Canada to be a leader in the global knowledge economy of the 21st century. The program represents an investment approach to technological development with real risk and reward-sharing with the private sector. Investments are fully repayable and are intended to help ensure that products with high potential reach the marketplace. This press release and other documents produced by Technology Partnerships Canada are available on Technology Partnerships Canada's corporate web site at: tpc.ic.gc.ca (English) and ptc.ic.gc.ca (French).