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

To: Kerm Yerman who wrote (14108)	12/8/1998 1:24:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Rigel Energy announces success in the UK 18th Offshore Licensing Round and initial production from Moose Mountain CALGARY, Dec. 8 /CNW/ - Rigel Energy Corporation, through its wholly owned subsidiary, Rigel Petroleum UK Limited, today announced it was successful in jointly acquiring five licenses during the UK 18th Offshore Licensing Round. The awards, comprising approximately 1,400 square kilometres, lie within shallow water areas of the inner Moray Firth and Central North Sea. Rigel's interests in these licenses range from 20 to 30 percent. In response to the awards, John Hodgins, Senior Vice President and Chief Operating Officer, commented, ''since our entry into the UK in 1995, Rigel has established a production base at MacCulloch and participated in a discovery at Blake. Our success in the latest licensing round has increased our interests to eleven licenses, strengthening our exploration portfolio of future opportunities in the UK offshore. Along with the development prospect at Blake and potential satellite prospects in the MacCulloch area, we are well positioned to take advantage of the anticipated improvement in crude oil prices.'' In western Canada, production from Moose Mountain was brought on-stream from two wells on November 19, 1998. The 26 kilometre pipeline connecting Moose Mountain to Shell's Junction ''U'' that feeds Jumping Pound Gas Plant, was completed on schedule in October. The Corporation is encouraged by the initial productive capability exhibited by the two wells. During an evaluation period of approximately six months, the wells will be limited to a combined rate of approximately 300 cubic metres per day of total product, consisting of: oil, natural gas, natural gas liquids, and sulfur. This initial production test will provide the information necessary for further field development. Rigel has a one-third working interest in the project, operated by Husky Oil Operations Limited. Rigel Energy Corporation is an international exploration and production company with oil and gas operations in Canada, the United States and the United Kingdom. The company is listed on the Toronto and Montreal exchanges under the symbol ''RJL''.

To: Kerm Yerman who wrote (14108)	12/8/1998 1:27:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Diaz Resources Ltd. Reports Early Success in its Exploration and Acquisition Program CALGARY, ALBERTA--Diaz Resources Ltd. today announces that it has participated in two successful gas wells and has closed a gas property acquisition in Southern Alberta. Diaz has a 50 percent interest in a gas well in the Turin area of Southern Alberta and a 25 percent interest in an upper Wilcox gas well in Texas. Both wells are scheduled to be on stream by year end and should double Diaz?s current gas production. Diaz has also closed the purchase of a natural gas property in Southern Alberta, which consists of a working interest in three producing and four shut-in gas wells, 21.5 sections of land and a gas plant. Diaz is pursuing other acquisitions in the area and plan to recomplete several wells in the area. Other exploration activities includes a 12 percent interest in a gas prospect in the Wild River area of west Central Alberta, which has a well currently being drilled on it and two additional gas prospects to be drilled in Southern Alberta. In the Michichi area of central Alberta, Diaz has finalized a farm-in agreement which covers over 20 sections of land and access to both 3-D and 2-D data. The property has several gas prospects already identified on it. The first project will be to recomplete a potential dual zone Belly River gas well adjacent to a pipeline owned by Diaz. Diaz has commenced a joint exploration program with a related company, Uniglobe Ventures Ltd., which will provide Diaz with a broader capital base to pursue exploration and acquisition opportunities. Diaz anticipates that its exploration program will be expanded to capitalize on its current success.