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

To: Kerm Yerman who wrote (14310)	12/16/1998 3:51:00 AM
From: Kerm Yerman	Respond to of 15196

FINANCING / Slade Energy Inc. - (formerly Inspan Investments Limited) Announces Appointment & Plans For Financing SLADE ENERGY INC. ASE SYMBOL: SDE DECEMBER 15, 1998 CALGARY, ALBERTA--Slade Energy Inc. (the "Company") announces that James Burns has been appointed to act as President and a Director of the Company. The Company also wishes to announce that subject to the approval of the Alberta Stock Exchange, it intends to complete a private placement of up to 500,000 common shares. The pricing for the shares will be determined in accordance with the policies of the Alberta Stock Exchange.

To: Kerm Yerman who wrote (14310)	12/16/1998 3:54:00 AM
From: Kerm Yerman	Respond to of 15196

PIPELINES / Westcoast Energy Rejects BC Gas Demand for Abbreviated Approval Process for Southern Crossing WESTCOAST ENERGY INC. TSE, VSE, ME SYMBOL: W NYSE SYMBOL: WE DECEMBER 15, 1998 VANCOUVER, BRITISH COLUMBIA--Westcoast Energy Inc. today rejected BC Gas' demand for an abbreviated approval process for the Southern Crossing pipeline proposal and instead called for a full public review of the re-filed proposal by BC Gas to build a $350 million pipeline across Southern BC. In April 1998, after an extensive regulatory review, the British Columbia Utilities Commission ("BCUC") denied the application by BC Gas to build the Southern Crossing pipeline. "The BCUC has already rejected the BC Gas Southern Crossing proposal. It was turned down by the BCUC last April and it should be turned down again because the proposal hasn't really changed," said Art Willms, President and Chief Operating Officer of Westcoast. "The real question is who is going to pay for this pipeline?" said Mr. Willms. "This proposal, as filed, is inadequate and deficient in the information it provides. It isn't possible, based on the information provided, to calculate an exact number; but based on their first filing, we believe that this pipeline proposal will cost the residential customers of BC Gas at least an extra $100.00 a year, each and every year for the next thirty years." "This is a serious consumer issue where an unnecessary expense will be dumped on the shoulders of the consumers of British Columbia," said Mr. Willms. "BC Gas wants to build a major pipeline that will increase their customer's gas bill by at least 20 percent. There are better options." Mr. Willms expressed concern that BC Gas was asking the BCUC to approve a few minor changes to the original Southern Crossing project without a full review of all the other deficiencies noted in the April 1998 BCUC decision. "This Southern Crossing proposal seeks to completely change many key components of the BC economy. We believe the people of British Columbia need to know all the implications of this proposal before decisions are made," concluded Mr. Willms.

To: Kerm Yerman who wrote (14310)	12/16/1998 4:09:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Kismet Energy Corp Drilling Update KISMET ENERGY CORPORATION REPORTS THAT THE OPERATOR IS CONTINUING DRILLING THE CREE FEE 1A WELL TOWARDS THE MAIN TARGET, POINT OF ROCKSSANDS FORMATION, DRILLING IS NOW TO A DEPTH OF 16,324 FT. Date: 12/15/98 3:44:48 PM Dateline: BAKERSFIELD, CALIFORNIA Stock Symbol: KISS Kismet Energy Corporation (the "Company") reports that the operator is continuing drilling the Cree Fee 1A well towards the main target, the Point of Rocks sands formation. Drilling is now to a depth of 16,324 ft. on way to licensed total depth of 18,000 ft.. After completion of this well, the JV partners are planning to move this rig to the second well location. Due to depressed oil prices and oil-sector market conditions the company has commenced financing of 1 million units at 50 cents to raise interm financing for ongoing exploration activities. Each unit consists of one share and one warrant excercisable for one year to acquire one additional share at 50 cents. The company expects this financing to close within 60 days. Both Cree Fee 1A and Cree Fee 1-30 wells are being drilled in the San Joaquin Valley, which is one of the most prolific oil and gas producing regions in the U.S. accounting for over 60% of California's annual production of about 400 million barrels of oil equivalent per year. An independent engineering report conducted by Dale Hankins estimates the Phelps Anticline Prospect could contain reserves of up to 9 trillion cubic feet of gas and 240 million barrels of oil in the Point of Rocks sands if the structure contains hydrocarbons to 18,000 ft.. The Company Kismet Energy Corporation is an oil and gas exploration and development company with offices in Alberta, Canada and Bakersfield, California. Kismet Energy Corporation has a 20% working interest in this project with the Operator, an NYSE-listed energy company. Further information can be obtained from the company's website: kismetenergy.com.

To: Kerm Yerman who wrote (14310)	12/16/1998 5:11:00 AM
From: Kerm Yerman	Respond to of 15196

FUNDS - MISC. / Additional Purchase Of Draig Energy Shares By Framfield Oil & Gas Ltd. CALGARY, Dec. 15 /CNW/ - Framfield Oil & Gas Ltd. (''Framfield'') wishes to announce additional acquisitions of common shares of DRAIG ENERGY INC. (ASE:DRA) (''Draig''). Since November 3, 1998, Framfield has purchased an aggregate total of 221,200 common shares of Draig. 21,200 shares of these acquisitions were made publicly through the facilities of The Alberta Stock Exchange and 200,000 shares were acquired through exercise of share purchase warrants, for long-term investment purposes only. Following these acquisitions, Framfield currently holds 1,304,901 common shares of Draig and nil share purchase warrants. Macon Resources Ltd. (''Macon''), a company associated with Framfield, currently holds 700,500 common shares of Draig plus 163,334 share purchase warrants, and 765888 Alberta Ltd. (''765888''), another company associated with Framfield, continues to hold 1,666,667 common shares of Draig. Framfield, Macon and 765888 Alberta Ltd. are parties which act jointly or in concert with respect to investments in Draig. Whether any of them will purchase any further shares of Draig will depend on the prevailing market prices of such shares.

To: Kerm Yerman who wrote (14310)	12/16/1998 5:19:00 AM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

CORP ANNOUNCEMENT / Scimitar Hydrocarbons Corporation - Gerald Mackenzie resigns from Board of Directors CALGARY, Dec. 15 /CNW/ - Scimitar Hydrocarbons Corporation (''SIY''- ASE) announces that Gerald A. Mackenzie has resigned from the Scimitar Board of Directors effective December 15, 1998. On behalf of the Board of Directors, the Company wishes to express its appreciation to Mr. Mackenzie for his significant contributions to the Company's project development efforts over the past four years, including initial negotiation of the agreements leading to Scimitar's Petroleum Service Agreement for the Issaran field in Egypt. Mr. Mackenzie has been a director since the Company went public in September 1995 and was Chairman of the Corporation from January 1996 through May 1998. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.