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

To: Kerm Yerman who wrote (14123)	12/8/1998 5:13:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANNOUNCEMENT / Prism Petroleum Ltd. Normal Course Issuer Bid PRISM PETROLEUM LTD. TO CONTINUE NORMAL COURSE ISSUER BID CALGARY, ALBERTA-- Prism Petroleum Ltd. ("Prism") announces that it will continue its normal course issuer bid for an additional period of 12 months on the expiry of its existing bid on November 22, 1998 in accordance with the by-laws, rules and policies of The Alberta Stock Exchange. Prism intends to acquire up to 5% or an aggregate of 2,438,097 common shares pursuant to the bid over a 12 month period commencing December 10, 1998 and ending December 9, 1999. Purchases will be carried out pursuant to open market transactions including through the facilities of The Alberta Stock Exchange. Prism has engaged Yorkton Securities Inc. for the purpose of making such purchases. Prism purchased 1,200,000 shares pursuant to its normal course issuer bid which expired November 22, 1998.

To: Kerm Yerman who wrote (14123)	12/8/1998 5:24:00 PM
From: Kerm Yerman	Respond to of 15196

MERGERS - ACQUISITIONS / Devon Energy Announces Final Exchange Ratio for Northstar Energy Merger OKLAHOMA CITY, Dec. 8 /CNW/ -- Devon Energy Corporation (Amex: DVN) today announced the final exchange ratio for the company's proposed merger with Canadian based Northstar Energy Corporation. The terms of the merger agreement provide for adjustment of the exchange ratio during a 10-day measurement period. The measurement period ended December 7, 1998. Northstar shareholders will receive .235 exchangeable shares for each existing Northstar share. In total, Devon expects to issue approximately 16.1 million shares in connection with the merger. The exchangeable shares will be traded on the Toronto Stock Exchange under the symbol NSX. The shares will be exchangeable, at each shareholder's option, into shares of Devon common stock on a one-for-one basis. The merger of Devon and Northstar was announced on June 29, 1998. It is subject to the approval of the shareholders of both companies as well as certain other terms and conditions. Each company will hold a special meeting of its shareholders to vote upon the merger. The Devon and Northstar meetings will be held on December 9 and 10, respectively. The companies expect to consummate the merger immediately after the Northstar meeting. Northstar Energy Corporation is a Canadian company engaged in petroleum and natural gas exploration and production. Northstar's oil and gas properties are concentrated in Alberta and northeastern British Columbia. Northstar's common shares are listed on the Toronto, Montreal and Alberta stock exchanges under the trading symbol NEN. Devon Energy Corporation is an independent energy company engaged in oil and gas property acquisition, exploration and production. It is one of the top 20 public independent oil and gas companies in the United States, as measured by oil and gas reserves. Devon's common shares trade on the American Stock Exchange under the symbol DVN.

To: Kerm Yerman who wrote (14123)	12/8/1998 5:26:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

TSE BULLETIN - TSE reviews Mercantile Petroleum Inc. TORONTO, Dec. 8 /CNW/ - The Toronto Stock Exchange is reviewing Mercantile International Petroleum Inc. - Symbol: MPT - with respect to the requirements for continued listing.

To: Kerm Yerman who wrote (14123)	12/8/1998 6:45:00 PM
From: Kerm Yerman	Respond to of 15196

MERGERS - ACQUISITIONS / Profco Resources Ltd. (PSO) & GHP Exploration Corporation (GHP.U) Announce Name Change CALGARY, Dec. 8 /CNW/ - Profco Resources Ltd. (''PSO''- TSE) and GHP Exploration Corporation (''GHP.U''- TSE) are pleased to announce that Profco has been renamed TransAtlantic Petroleum Corp. and its common shares have commenced trading in United States Dollars (''TNP.U''- TSE). GHP shareholders have had each GHP share exchanged for TransAtlantic shares. GHP Exploration's shares were delisted on Monday, December 7, 1998. The Board of TransAtlantic is now comprised of Messrs. George H. Plewes, John J. Fleming, John Andriuk, Don V. Ingram, Stephen S. Kurtz, Barry D. Lasker and Trevor W. Wilson. Barry D. Lasker was named President, Chief Executive Officer and Chief Operating Officer. TransAtlantic engages in the exploration for and development and production of crude oil and natural gas in the United States, Nigeria, Egypt and Tunisia. The Company currently has 53.5 million common shares outstanding.

To: Kerm Yerman who wrote (14123)	12/8/1998 6:50:00 PM
From: Kerm Yerman	Respond to of 15196

FUNDS & MISC / Corridor Resources Inc. Shares Acquired FOOTHILLS PROPERTIES INC. - HOLDINGS OF CORRIDOR RESOURCES INC. CALGARY, ALBERTA-- Foothills Properties Inc. ("FPI") announced today pursuant to Section 141 of the Securities Act (Alberta) and similar legislation in other provinces that on December 4, 1998 it has purchased 8,000 Common Shares of Corridor Resources Inc. ("Corridor"). FPI is a private company wholly-owned and controlled by Mr. Jack Bray. With this purchase, FPI, together with persons acting jointly and in concert with FPI, exercised control and direction over an aggregate of 2,621,000 Common Shares and 2,125,000 Warrants to purchase Common Shares, representing 12.4% of the outstanding Corridor Common Shares (18.2% on a fully diluted basis). The acquisition was completed on December 4, 1998 and took place in the open market through the facilities of The Alberta Stock Exchange. The shares were acquired in the ordinary course of business. There is no present intention of either FPI or Mr. Bray, any other persons acting jointly and in concert with either of them, or the persons over which either exercise control, to increase their beneficial ownership in Common Shares of Corridor other than through future acquisitions in the ordinary course of business.

To: Kerm Yerman who wrote (14123)	12/8/1998 6:53:00 PM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / Westrock Energy Income Fund I Completes Acquisitions Which Replace 100% of 1998 Production CALGARY, Dec. 8 /CNW/ - Westrock Energy Income Fund I is pleased to announce that it has successfully completed property acquisitions in the Pembina Five Way, Patricia/Verger and Oungre/Neptune areas of Alberta. These acquisitions have added daily production of over 210 bbls/day of light, sweet crude and natural gas liquids in addition to approximately 300 mcf/day of natural gas to the Fund for a total production increase of 240 BOE/day. A total of 2,140 MBOE of proven reserves and 120 MBOE of probable reserves were purchased at a cost of less than $4.00 per BOE. The properties have a proven reserve life index (''RLI'') of 24.4 years, an established RLI of 25.1 years and an economic reserve life of over 40 years. The properties also have significant upside potential for infill drilling which can add production in future years. The Enerplus Group currently owns and operates several properties in the area and Westrock I should see very little increase in general and administrative costs as a result of these acquisitions. Combined with the successful 1998 development programs in Fox Valley and other areas, these acquisitions have more than replaced the Fund's 1998 production and will realize an increase in proven reserves over 1997 levels. The Fund's reserve life index will also be maintained.

To: Kerm Yerman who wrote (14123)	12/8/1998 6:55:00 PM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / Westrock Energy Income Fund II Completes Acquisitions Which Replace 100% of 1998 Production CALGARY, Dec. 8 /CNW/ - Westrock Energy Income Fund II is pleased to announce that it has successfully completed property acquisitions in the Pembina Five Way, Patricia/Verger and Oungre/Neptune areas of Alberta. These acquisitions have added daily production of over 215 bbls/day of light, sweet crude and natural gas liquids in addition to approximately 350 mcf/day of natural gas to the Fund for a total production increase of 250 BOE/day. A total of 2,200 MBOE of proven reserves and 130 MBOE of probable reserves were purchased at a cost of less than $4.00 per BOE. The properties have a proven reserve life index (''RLI'') of 24.1 years, an established RLI of 24.9 years and an economic reserve life of over 40 years. The properties also have significant upside potential for infill drilling which can add production in future years. The Enerplus Group currently owns and operates several properties in the area and Westrock II should see very little increase in general and administrative costs as a result of these acquisitions. Combined with the successful 1998 development program in the Sylvan Lake area, these acquisitions have more than replaced the Fund's 1998 production and will realize an increase in proven reserves over 1997 levels. The Fund's reserve life index will also be maintained.

To: Kerm Yerman who wrote (14123)	12/8/1998 6:57:00 PM
From: Kerm Yerman	Read Replies (10) \| Respond to of 15196

FIELD ACTIVITIES / Spire Energy Ltd. Drills Four Successful Gas Wells Announces Change of Directors CALGARY, Dec. 8 /CNW/ - Spire Energy Ltd. announced today that it has drilled and completed four successful belly river gas wells (3.9 net) over the past two weeks for a 100% success rate. The first well in the programme, located at 13-21-29-5W4, flowed natural gas at a rate of 750 MCFD on a 32/64'' choke, the second well at 16-12-29-4W4 tested natural gas at 500 MCFD on a 40/64'' choke and the third well at 14-17-29-3W4 flowed natural gas at 800 MCFD on a 40/64'' choke. A fourth belly river well was drilled in the Abee area at 02/08-28-61-23W4M that flowed gas at a rate of 980 MCFD on a 40/64'' choke. All flow rates were recorded immediately after perforation. The Company plans to tie-in all four wells to Spire's natural gas processing facilities this month. It is estimated that the wells will produce an aggregate 2500 MCFD net to Spire, bringing Spire's net production to 9000 MCFD of natural gas at the end of December 1998. Spire also announced that Gregory G. Turnbull, a partner with the law firm Code Hunter Wittmann, has been appointed a director of the Company. Robert W. Lamond and Charles A. Teare have resigned as directors of Spire following the closing of the first stage of the previously announced sale of Humboldt Capital Corporation's interest to Gardiner Group Capital Limited of Toronto, Ontario.