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

To: Herb Duncan who wrote (13516)	11/16/1998 9:07:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Baytex Announces Completion of Private Placement TSE, ASE SYMBOL: BTE.A NOVEMBER 16, 1998 CALGARY, ALBERTA--Baytex Energy Ltd. (BTE.A - TSE, ASE) of Calgary, is pleased to announce the completion of a private placement of US $57 million of senior secured term notes. The notes bear interest at 7.23 percent, are repayable in November 2004 and are ranked equally with the Company's banking facilities. Proceeds from this placement have been applied to reduce Baytex's borrowings under its banking facilities. Nesbitt Burns Inc. acted as agent for this transaction. Baytex is an intermediate, oil and gas exploration and production company whose shares are traded on The Toronto Stock Exchange and The Alberta Stock Exchange under the trading symbol "BTE.A".