Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerm Yerman who wrote (14221)	12/11/1998 5:24:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANNOUNCEMENT / Pebercan Corp: Special Meeting of shareholders PEBERCAN ME SYMBOL: PBC DECEMBER 11, 1998 MONTREAL, QUEBEC-- Pebercan Corporation held a Special Meeting of Shareholders in Montreal yesterday. The Management and Board of Directors of the Corporation requested the votes of shareholders for three resolutions: 1st Resolution: Converting the $9,300,000 advance of the principal shareholder (PEVERINVEST BV) into share capital. This resolution was approved by a majority of votes expressed by shareholders other than the principal shareholder. This conversion will increase the capital of the corporation to 51,511,228 common shares, i.e. the additional issue of 18,600,000 shares at $0.50 for PEBERINVEST. Pursuant to this resolution, the controlling interest will hold 91 percent of PEBERCAN's capital, with 9 percent remaining for the public. 2nd Resolution: Approving a non-arm's length private placement. This resolution was approved by a majority of votes expressed by shareholders other than the principal shareholder. Thus, Management has the opportunity to raise additional funds to continue its exploration activities. Pebercan has until 31 December, 1998 to close this private placement. 3rd Resolution: Reorganising stock options. This resolution was approved by a majority of votes expressed by shareholders other than the principal shareholder.

To: Kerm Yerman who wrote (14221)	12/11/1998 5:27:00 PM
From: Kerm Yerman	Respond to of 15196

PROPERTY DISPOSITION / Cordex Petroleums Closes Fell Block Sale CORDEX PETROLEUMS INC. TSE SYMBOL: CZX.A DECEMBER 11, 1998 CORDEX Petroleums Inc. DENVER, COLORADO--CORDEX Petroleums Inc. ("CORDEX") (TSE - CZX.A) announces the closing of the previously announced sale of the Fell Block oil and gas concession held by CORDEX, certain assets of CORDEX Petroleums Inc. (USA) and 100 percent of the shares of CORDEX Petroleums Argentina Ltd. to Gener S.A. for US $21,000,000 less certain charges and payments of approximately US $5,271,225 and an additional US $5,000,000 held back under escrow arrangements, pending completion of title requirements and other post-closing matters. The sale to Gener S.A. divests CORDEX of its oil and gas production, exploration and development business in its entirety. CORDEX has received some cash from transaction, sufficient to fund its continuing activities for the time being, and should receive additional amounts as contingencies are met. It has retained its 10 percent interest in Petroleos y Asfaltos CORDEX S.A., a corporation in the process of constructing an asphalt terminal and oil facility in Puerto Ventanas, Chile, with a right to increase such interest to 45 percent. CORDEX is pursuing negotiations for financing which would enable it to exercise this right. In addition to concentrating on this core business, CORDEX will continue to pursue and explore other business opportunities. CORDEX currently has approximately 151,714,017 issued and outstanding class A shares.

To: Kerm Yerman who wrote (14221)	12/11/1998 5:30:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Richland Petroleum Announces Flow-Through Share Issue RICHLAND PETROLEUM CORPORATION TSE SYMBOL: RLP DECEMBER 11, 1998 CALGARY, ALBERTA--Richland Petroleum Corporation today announced that it has entered into an agreement for the issuance of up to 1,800,000 flow-through common shares at $2.50 per share, for gross proceeds of up to $4,500,000. 1,600,000 flow-through shares will be issued on a bought deal basis through a syndicate including Griffiths McBurney & Partners, Goepel McDermid Securities and Canaccord Capital Corporation. The underwriters have an option to acquire up to 200,000 additional flow-through common shares on the same terms. Proceeds of the issue will be used to fund the Company's exploration program in Canada. Closing of the issue is subject to regulatory approval and is anticipated to occur within two weeks. Richland currently has 19.6 million common shares outstanding, prior to the new issue. Richland Petroleum Corporation is a public company involved in the exploration and development of crude oil and natural gas in western Canada and the United States. Its shares trade on the Toronto Stock Exchange under the symbol "RLP".

To: Kerm Yerman who wrote (14221)	12/11/1998 5:47:00 PM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

FINANCING / Bonavista Petroleum Announces $8.2 Million Equity Financing BONAVISTA PETROLEUM LTD. TSE SYMBOL: BNP DECEMBER 11, 1998 CALGARY, ALBERTA--(10:00 AM - MST) - Bonavista Petroleum Ltd. ("Bonavista") announces today that it has completed a flow-through share financing with three limited partnership institutions and employees of Bonavista. A total of 925,000 flow-through common shares have been issued at a price of $8.90 per share for total proceeds of $8.2 million, of which $1.2 million was subscribed for by Bonavista employees. Bonavista will use the proceeds from this offering to fund the recently announced expanded 1998 and 1999 capital programs. Bonavista is an independent Canadian oil and gas exploration, development and production company with its common shares trading on The Toronto Stock Exchange under the symbol "BNP".