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

To: Kerm Yerman who wrote (12996)	10/24/1998 6:49:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Westcoast Energy to Sell 6,650,000 Common Shares to a Syndicate of Underwriters TSE, ME, VSE SYMBOL: W NYSE SYMBOL: WE OCTOBER 23, 1998 VANCOUVER, BRITISH COLUMBIA--Westcoast Energy Inc. today announced that it has agreed to sell 6,650,000 common shares at a price of $30.30 per share to a syndicate of underwriters. The proceeds of the issue will be used to retire commercial paper issued by the Company or reduce amounts borrowed under revolving credit facilities, to finance investments in subsidiaries and joint ventures or development expenses associated with new business ventures and for other capital purposes. The offering is being made only in Canada by means of a prospectus, and is subject to the approval of securities regulatory authorities. The securities offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. Not for distribution to U.S. news wire services or for dissemination in the U.S.

To: Kerm Yerman who wrote (12996)	10/24/1998 6:50:00 AM
From: Herb Duncan	Respond to of 15196

ENERGY TRUSTS / Petrobank Monitizes Midstream Assets TSE SYMBOL: PBG OCTOBER 23, 1998 CALGARY, ALBERTA--Petrobank announces today that it has reached agreement with AltaGas Services Inc. to sell gas plant and gathering facilities in its Alder Flats core area for $12.0 million cash, $1.8 million in future tie-in costs, plus potential future incentive payments totalling $2.4 million. The additional amounts are payable over the first three years of operations, where the tie-in costs are part of a comprehensive area development plan and the incentive payments depend on plant throughput. The agreement provides Petrobank with priority access to existing and future unutilized capacity in the facilities for a gathering and will average approximately $3.50 per BOE. Fees will depend on tie-in options, plant throughput, and plant electricity costs. Petrobank has extensive undeveloped acreage and an active drilling program in the Alder Flats area. As a result of the gas plant sale, Petrobank's current bank debt will be reduced to approximately $4 million leaving unutilized credit lines of $22 million. Petrobank's 80 percent gas weighted cashflow, strong balance sheet, and unutilized credit facilities will allow the company to continue to pursue an active exploration and development drilling program while examining other opportunites available in the current industry environment. Petrobank and Altagas expect to close the facilities sale on November 1, 1998 with the sale to be effective as of that date.

To: Kerm Yerman who wrote (12996)	10/24/1998 6:52:00 AM
From: Herb Duncan	Respond to of 15196

SERVICE SECTOR / Hartland Pipeline Services Ltd. Announces the Company's Financial Results for the 3 Months Ending September 30, 1998 TSE SYMBOL: HAR OCTOBER 23, 1998 CALGARY, ALBERTA--Brian Murray President & CEO is pleased to announce Hartland's third quarter results for the three month period ended September 30, 1998. The earnings for the quarter based on revenues of $102.3 million were $7.7 million ($0.35 basic earnings per share and $0.30 per share fully diluted). Year to date earnings for the 9 months ended September 30 were $15.4 million ($0.81 basic earnings per share and $0.65 per share fully diluted) on revenues of $168.5 million. The company is pleased with these results and is on target to meet its earnings forecast.

To: Kerm Yerman who wrote (12996)	10/24/1998 6:54:00 AM
From: Herb Duncan	Respond to of 15196

FINANCING / Paramount Resources Ltd. Announces an Offering of Common Shares TSE SYMBOL: POU OCTOBER 23, 1998 CALGARY, ALBERTA--Paramount Resources Ltd. announces that it has agreed to an issue from treasury of 3.0 million common shares at a price of $15.00 on a bought deal basis with a syndicate of underwriters led by FirstEnergy Capital Corp. and Goldman Sachs Canada, and including First Marathon Securities Limited, Peters & Co. Limited, and Sprott Securities Ltd. Net proceeds from the issue will be used to fund Paramount's ongoing exploration, development and acquisition activities. Prior to utilization, the equity proceeds will initially be applied to repay existing bank indebtedness and thereafter to the company's ongoing exploration, development and acquisition activities. Closing is expected to occur on November 13, 1998. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy the securities in any jurisdiction. The common shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. Persons (as defined in Regulation S under such Act) absent registration, or an applicable exemption from the registration requirements of such Act. Paramount's common shares are listed for trading on The Toronto Stock Exchange under the symbol "POU".

To: Kerm Yerman who wrote (12996)	10/24/1998 6:56:00 AM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Highview Resources Enters Into Agreement ASE SYMBOL: HVW OCTOBER 23, 1998 CALGARY, ALBERTA--Highview Resources Ltd. today announced that it has entered into an agreement with arm's length parties, to purchase all of the outstanding shares of a private company, Royal Crusader Energy Corp. in exchange for $98,000 cash and the issuance of 2,253,000 Highview common shares at $0.10 per share. Royal Crusader has working capital of approximately $233,000 and owns certain non producing exploration acreage in Alberta and Saskatchewan. MANAGEMENT Concurrent with the completion of the acquisition, Highview will appoint Richard Chisholm, John McLeod, Roger Hume and Donald Clark to the Board of Directors of Highview, and Locke McPherson will resign from the Board. Richard Chisholm will be appointed as the President and Chief Executive Officer of the Company, Brian McManamam will be appointed Vice President, Land and Norm Johnson will be appointed Vice President of Finance and Administration. Mr. Chisholm is a geologist with over 15 years of experience in oil and gas exploration in Western Canada and the Board of Highview is confident he will bring the necessary management and technical skills to provide Highview with growth opportunities in the immediate future. EMPLOYEE AND DIRECTOR OPTIONS Subject to regulatory approval, the Board of Directors has approved the issuance of employee and directors options to purchase 950,000 shares at $0.15 per share, exercisable for a period of five years, vesting as to one third immediately and one third in each of the next two years. FINANCIAL Subject to regulatory approval, Highview plans to raise an additional $130,000 through the issue of 1,000,000 common shares on a flow through basis at $0.13 per share. The shares will be issued to officers and directors of the Company and the proceeds will be used to provide financing for exploration and development prospects over the next year. BUSINESS PLAN Following the transaction and the issue of flow through shares, Highview will have approximately 14.7 million shares outstanding. The Company will have working capital of approximately $770,000, an interest in a producing oil property in Alberta providing approximately $100,000 cash flow per year, and an experienced management team with a mandate to grow the company through exploration and the acquisition of reserves, primarily in western Canada. Management will own approximately 15 percent of the outstanding shares and Humboldt Capital Corporation and related parties will own 50 percent of the outstanding shares. Humboldt and related parties currently own 66 percent of the outstanding shares of Highview and has agreed to approve the transaction. The transaction is subject to the completion of formal documentation and the approval of the appropriate regulatory authorities, including the Alberta Stock Exchange. It is anticipated the acquisition will close by the end of November, 1998.