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

To: Kerm Yerman who wrote (13362)	11/9/1998 5:32:00 PM
From: Kerm Yerman	Respond to of 15196

ASE NOTICE / Trading Suspension - NTI Resources Limited - NTI CALGARY, Nov. 9 /CNW/ - The Alberta Stock Exchange has issued the following trading suspension: Issuer Name: NTI Resources Limited ASE Ticker Symbol: NTI Time of Suspension: 11/09/98 Reason for Suspension: Failure to Maintain a Transfer Agent

To: Kerm Yerman who wrote (13362)	11/9/1998 5:34:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Anadime Corp. Closes Convertible Debentures Issue CALGARY, Nov. 9 /CNW/ - Anadime Corporation (TSE: AEM), today announced that it has closed its previously announced issue of $3 million in convertible subordinated debentures. The agents were CIBC Wood Gundy Securities Inc. and Loewen, Ondaatje, McCutcheon Limited. The interest rate payable is 9% and the debentures are convertible into common shares at a conversion price of $0.40 per share until the maturity date of September 30, 2003. Proceeds from the issue will be used to fund business development initiatives in Canada and the US and to supplement working capital. The Corporation has received conditional approval to list the debentures for trade on The Toronto Stock Exchange, and expects trading to commence no later than mid November. Based in Calgary, Anadime Corporation is a leading oilfield waste management company operating in western Canada and California.

To: Kerm Yerman who wrote (13362)	11/9/1998 5:38:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

FINANCING / Raptor Capital Corporation Announces Private Placement Debenture CALGARY, Nov. 9 /CNW/ - Norman Mackenzie Chairman of Raptor Capital Corporation announces that on November 5th 1998 Raptor received conditional approval from the Alberta Stock Exchange for the issuance of common shares of the company pursuant to the private placement of $500,000 of 10% Convertible Subordinated Debentures. The Debentures are convertible into common stock of Raptor at a price of $.16 per common share in the first year and thereafter at a price of $.20 per common share for two years. The Debentures are redeemable by the company at anytime provided that the weighted average price at which the shares of Raptor have traded on the Alberta Stock Exchange for twenty consecutive trading days was at least 200% of the conversion price. The Debentures bear interest at the rate of 10% per annum and in addition will earn a 4% gross overriding royalty on all wells completed pursuant to the offering after deducting crown and free hold royalties. Proceeds of the offering will be used to complete and tie in four natural gas wells near Red Deer Alberta and for the drilling of three oil wells at Norris Alberta, all to be completed by the end of December 1998.

To: Kerm Yerman who wrote (13362)	11/9/1998 5:41:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Jet Energy Corp. Announces $11.5 Million Bought Deal Financing CALGARY, Nov. 9 /CNW/ - ----------------------------------------------------------------------- TSE Symbol: JEC Listed Standard & Poor's Manual OTC Bulletin Brd. Symbol: JECXF Issued and Outstanding Shares: 22,374,576 ----------------------------------------------------------------------- Jet Energy Corp. (''Jet Energy'') announces today that it has entered into a bought deal financing agreement with a syndicate of underwriters led by Griffiths McBurney & Partners and includes Yorkton Securities Inc. and Jennings Capital Inc. Jet Energy intends to issue 5,590,000 special warrants at a price of $2.05 per special warrant for aggregate gross proceeds of approximately $11,459,500. Each special warrant will entitle the holder to receive one common share from treasury without payment of any consideration in addition to the issue price of the special warrant. The financing is subject to final regulatory approval and the closing is expected to take place on or before November 19, 1998. Proceeds from the issue will be used to facilitate Jet Energy's ongoing exploration and development plans. Jet Energy Corp. is a publicly traded Canadian oil and gas exploration and development company, headquartered in Calgary, with operations in West Central Alberta and Northeastern British Columbia. The Company's primary objective is to maximize shareholder value by managing risk as it builds resource assets primarily through the exploitation and exploration of natural gas and crude oil.

To: Kerm Yerman who wrote (13362)	11/9/1998 5:44:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Arcis Corporation Reports Six Month Results CALGARY, Nov. 9 /CNW/ - Arcis Corporation. (RKS - TSE) announced today revenues grew by 36% in the second quarter and 69% for the first six months of Fiscal 1999 compared to the same periods of last year. Comparative results are as follows: Six Months Ended Three Months Ended September 30th September 30th Financial 1998 1997 1998 1997 --------- ------ ------ ------ ------ Revenue $ 11,712,629 $ 6,910,954 $ 5,288,761 $ 3,871,174 Expenses Operating 10,258,710 6,438,707 4,342,353 3,395,503 General & administrative 1,237,729 208,711 722,691 115,866 Depreciation & amortization 1,497,890 253,430 818,320 218,953 Interest on long term debt 227,695 14,271 115,956 10,704 ------- ------ ------- ------ 13,222,024 6,915,119 5,999,320 3,741,026 Operating (loss) income before taxes (1,509,395) (4,165) (710,559) 130,148 Income tax (recovery) provision (645,000) 8,366 (289,000) (634) --------- ----- --------- ----- Net (loss) income for the period ($864,395) ($12,531) ($421,559) $130,782 Net (loss) income per share Basic ($0.03) $0.00 ($0.01) $0.02 Fully diluted antidilutive $0.00 antidilutive $0.02 Cash provided by operating activities $ 316,968 $ 241,592 $ 112,624 $ 349,364 Cash flow from operations per share Basic $0.01 $0.03 $0.00 $0.05 Fully diluted $0.01 $0.02 $0.00 $0.04 Losses in the three and six month periods were directly attributable to significantly lower capital spending by the oil and gas industry. Arcis anticipates a profitable fourth quarter as indications are that the winter season will be active with the Company running at or near maximum capacity with its five seismic acquisition crews. In addition, data brokerage sales have recently begun to increase after lower sales, year over year, in the first two quarters of Fiscal 1999. Recently, opportunities for exclusive multi-client and participation surveys have increased dramatically. This represents enormous potential for Arcis and reinforces the corporate strategy that this activity would be countercyclical to current industry conditions. There are 25.9 million shares issued and outstanding.

To: Kerm Yerman who wrote (13362)	11/9/1998 9:05:00 PM
From: Kerm Yerman	Respond to of 15196

ASE NOTICE / Halt Status Update - Rockport Energy Corp. - RPT CALGARY, Nov. 9 /CNW/ - The Alberta Stock Exchange has issued the following trading halt update: * (Trading Was halted last Friday) Issuer Name: Rockport Energy Corp. ASE Ticker Symbol: RPT Time of Halt: 14:30 Reason for Halt: for Name Change & Closing of Offer to Purchase

To: Kerm Yerman who wrote (13362)	11/9/1998 9:10:00 PM
From: Kerm Yerman	Read Replies (11) \| Respond to of 15196

ACQUISITIONS-MERGERS / Poco Petroleums Ltd. Mails Take-Over Bid Circular for Pan East Petroleum Corp. CALGARY, Nov. 9 /CNW/ - Poco Petroleums Ltd. announced today that it has mailed, to all registered holders of shares of Pan East Petroleum Corp., a take-over bid circular containing the details of its previously announced offer to acquire all of the shares of Pan East. The offer provides that Pan East shareholders will receive, for each common share tendered, $2.65 or 0.1797 of a Poco common share. The offer will expire at 12:00 midnight (Calgary time) on November 27, 1998, unless extended. If all Pan East common shares are tendered, the value of the offer will be approximately $163.0 million. The offer is subject to all necessary regulatory approvals and to customary conditions including a minimum of 66 2/3% of the outstanding Pan East common shares, calculated on a fully diluted basis, be tendered.

To: Kerm Yerman who wrote (13362)	11/9/1998 9:15:00 PM
From: Kerm Yerman	Respond to of 15196

EARNINGS / Triumph Energy Announces Third Quarter Results CALGARY, Nov. 9 /CNW/ - TRIUMPH ENERGY CORPORATION is pleased to report its financial and operating results for the three months and nine months ended September 30, 1998. The Company successfully recorded a 25% gain in combined production averaging 3,173 BOE/d compared to 2,541 BOE/d for the nine months ended September 30, 1997. Cash flow from operations was negatively affected as a result of the global slump in oil prices. Cash flow per share for the nine months ended September 30, 1998 was $0.26, down 33% from $0.39 for the corresponding period of the previous year. The following table summarizes Triumph's financial and operating results for the three months and the nine months ended September 30, 1998. Three months ended Nine Months Ended September 30 September 30 ------------------ ----------------------- 1998 1997 1998 1997 Change ------------------------------------------------------------------------- Financial Results ----------------- ($000's except per share amounts) Revenue $ 5,240 $ 5,772 $ 14,886 $ 14,723 1% Cash flow from operations $ 2,086 $ 3,505 $ 6,527 $ 9,373 -30% Per share $ 0.08 $ 0.14 $ 0.26 $ 0.39 -33% Net earnings (loss) $ (155) $ 770 $ (82) $ 2,004 Per share $ (0.01) $ 0.03 $ ( 0.01) $ 0.08 Bank debt, net of working capital $ 55,158 $ 43,021 28% Operating Results ----------------- Production Oil (bbls/d) 2,244 2,404 2,360 1,974 20% Natural gas (mmcf/d) 10.90 6.11 8.13 5.67 43% Combined (BOE/d) 3,334 3,015 3,173 2,541 25% Prices Oil ($/bbl) $ 16.54 $ 23.64 $ 16.55 $ 24.40 -32% Natural gas ($/mcf) $ 1.97 $ 1.58 $ 1.97 $ 1.66 19% Combined ($/BOE) $ 17.59 $ 22.05 $ 17.38 $ 22.65 -23% Netbacks Oil ($/bbl) $ 7.65 $ 15.58 $ 8.96 $ 16.06 -44% Natural gas ($/mcf) $ 1.49 $ 1.21 $ 1.45 $ 1.20 21% Combined ($/BOE) $ 10.01 $ 14.89 $ 10.38 $ 15.14 -31% ------------------------------------------------------------------------- OPERATIONS UPDATE ----------------- EXPLORATION SUCCESS SIGNIFICANTLY INCREASES CURRENT NATURAL GAS PRODUCTION Triumph continued its exploration effort in West Central Alberta during the third quarter resulting in significant natural gas production and reserve additions for the fourth quarter. Since the first quarter, the Company has increased its natural gas production by nearly 300% from 4.7 mmcf/d to in excess of 19.0 mmcf/d currently. At year-end, Triumph's natural gas production will amount to over 40% of total production up from less than 20% during the first quarter. At Cow Lake, additional evaluation of the Company's Ellerslie natural gas pool during the third quarter indicated significant increases in original reserve estimates. Following up on our first quarter Elkton discovery at Cow Lake, the Company will drill a dual zone Elkton-Ellerslie natural gas test during the fourth quarter to further our ongoing depletion strategy in these two pools. Additional wells are planned for the first half of 1999 at working interests varying from 25% to 40%. At Zeta Lake, Triumph successfully drilled a Mississippian liquids-rich natural gas well (57% working interest) during the third quarter which has recently been put on production. This new well will add significant gas production to Triumph during the fourth quarter. Triumph currently plans to drill an offset to this well during the first quarter of 1999. At Pine Creek, Triumph recently cased a 100% Mississippian natural gas test. This well will be evaluated before year-end and if successful, will be tied-in in the new year. Additional lands could provide follow-up potential upon successful completion of this first well. The Company will continue its successful exploration efforts in West Central Alberta drilling exploration tests at Chedderville, Cow Lake, Medicine Lodge and South O'Chiese between now and the end of the first quarter at working interests between 25% and 100% looking for new accumulations of liquids-rich natural gas. Development drilling at Zeta Lake and Cow Lake will continue to add new volume into 1999, from this prolific area. With its partners, Triumph has finalized its drilling program at Chinchaga River scheduled for the first quarter of 1999. More than 20 infill wells will be drilled this winter to fill existing facilities. This low risk, long-term natural gas project will continue to add valuable cash flow to the Company during this period of strong natural gas pricing. During the first quarter of 1999, Triumph will drill up to five new wells at Manyberries. At current oil prices, our aggressive exploitation effort at Manyberries has been deferred in favor of a maintenance strategy to take full advantage of the current natural gas price environment and Triumph's successful exploration efforts in West Central Alberta. With recovery in oil prices expected during the coming year, the Company will again continue its ongoing depletion strategy in this key oil producing project area. Notwithstanding a difficult liquids pricing environment and the Company's high oil to gas production ratio at the beginning of 1998, Triumph has demonstrated its ability to adapt to its changing environment by successfully achieving its ongoing growth strategy in West Central Alberta. By targeting high-impact, moderate-risk liquids-rich natural gas targets, the Company has significantly increased not only production, but its leverage to current natural gas pricing. Triumph's strategy will remain unchanged as it seeks to efficiently add high-quality natural gas and liquids production and reserves to its asset base. RECORD PRODUCTION VOLUMES FOR EXIT 1998 By year-end. the Company will have added in excess of 1,400 BOE/d of primarily natural gas production in 1998 to exit at over 4,000 BOE/d, an increase of over 50%. As a result, year over year growth in 1999 will be significant with respect to both production and cash flow per share. Notwithstanding the volatility in current commodity pricing, Triumph's ongoing exploration and exploitation effort will provide another year of meaningful growth through the drill bit. Triumph Energy Corporation is a growth oriented oil and gas exploration and production company with activity focused in western Canada. The Company currently has 25.4 million common shares outstanding and trades on the Toronto Stock Exchange under the symbol ''TPH''. Additional information relating to the Company is available on the Internet at triumphenergy.com.