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

To: Kerm Yerman who wrote (12889)	10/21/1998 2:11:00 AM
From: Kerm Yerman	Respond to of 15196

PIPELINES / Enbridge Inc. Announces $117.3 Million Equity Offering Date: 10/20/98 5:49:45 PM Dateline: CALGARY,ALBERTA Stock Symbol: ENB Enbridge Inc. today announced that it has entered into an agreement With a group of underwriters led by ScotiaMcLeod Inc. to sell 1,750,000 treasury common shares at $67.05 per common share for distribution to the public. Closing of the offering is expected on or about November 10, 1998, which is prior to the record date for the next regularly scheduled quarterly common dividend payment. The offering is being made only in Canada by means of a prospectus. Proceeds will be used to fund investments in subsidiaries, to repay outstanding indebtedness and for general corporate purposes. Enbridge also has entered into a private placement agreement to sell an additional 250,000 shares to Noverco Inc. at the same price as the public issue. The placement is expected to close on or about November 13, 1998, and will maintain Noverco and its affiliates ownership interest in Enbridge at approximately 10%. Enbridge Inc., formerly known as IPL Energy Inc., is a leader in energy transportation, distribution and services. As a transporter of energy. Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids pipeline system. The company also is involved in liquids marketing and international energy projects, and has a growing involvement in natural gas transmission. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, which provides gas and retail services in Ontario, Quebec and New York State; and is involved in the generation and distribution of electricity. In addition, Enbridge provides retail energy products and services to a growing number of Canadian and U.S. markets. The company employs more than 5,000 people, primarily in Canada, the U.S. and South America. Enbridge common shares trade on the Toronto and Montreal stork exchanges in Canada under the symbol "ENS" and on The NASDAQ National Market in the U.S. under the symbol "ENBRF"

To: Kerm Yerman who wrote (12889)	10/21/1998 2:18:00 AM
From: Kerm Yerman	Respond to of 15196

ACQUISITIONS - MERGERS / Netalco Corp To Purchase Shares Of Saddle Resources Inc. NETALCO CORPORATION TAKES UP COMMON SHARES OF SADDLE RESOURCES LTD. Date: 10/20/98 6:43:45 PM Dateline: CALGARY,ALBERTA Stock Symbol: NEO Netalco Corporation ("Netalco" or the "Corporation") is pleased to announce that its offer made on September 28, 1998 to purchase all of the issued and outstanding common shares of Saddle Resources Inc. ("Saddle") has been successful and that it has taken up and paid for 6,457,450 common shares validly deposited under the offer. This represents approximately 93.9% of the outstanding common shares of Saddle. Pursuant to the Business Corporations Act (Alberta), Netalco has commenced proceedings to acquire, by way of compulsory acquisition, the balance of the common shares of Saddle which have not yet been deposited under the offer. The offer was made on the basis of 3.76 Common Shares of Netalco for each Saddle common share. Completion of the purchase of Saddle was contingent upon the approval of the Shareholders of the Corporation, which approval was provided at the Annual General and Special Meeting held on October 19, 1998. The Shareholders of the Corporation also approved a Special Resolution providing for the consolidation of the Common Shares on a One for Five basis. Upon the acquisition of 100% of the outstanding common shares of Saddle, the Corporation proposes to file the required documentation to effect the amalgamation with Saddle and the consolidation of its Common Shares. When completed, the name of the amalgamated corporation will be Saddle Resources Inc., with approximately 6.65 million Common Shares outstanding Saddle is a private oil and gas company based in Calgary. Saddle has successfully implemented its business strategy based on identifying horizontal drilling and re-entry opportunities in the Keg River formation. This has resulted in its current production of 350 BOPD of light, sweet crude oil from the Rainbow Lake area in Northern Alberta. Saddle has identified several development and exploratory locations on Saddle owned property that will be evaluated and drilled during 1998 and 1999 and is actively evaluating natural gas opportunities in Western Canada.