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

To: Kerm Yerman who wrote (14401)	12/18/1998 6:30:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Algonquin Petroleum Announces Drilling Update CALGARY, ALBERTA--Algonquin Petroleum Corporation (ASE - AGQ) announces that the Talisman (Horizontal No. 1) Romney 5-9-I, the first earning well under the previously announced farmout from Algonquin to Talisman, has been drilled and logged. Dolomite was encountered in the objective zone along with oil and gas shows. At present the well is waiting on completion tools.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:32:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Operations - Ocelot Increasing International Focus CALGARY, Dec. 18 /CNW/ - Ocelot Energy Inc. announced today that it will continue to place increasing emphasis on its international energy projects. Ocelot currently has four major international oil and gas projects in various stages of development. The Company operates an oil development and exploration project in Gabon, has gas-to-electricity projects in Tanzania and Cameroon and a petroleum development project in northwestern Kazakhstan. ''The Company believes that by focusing on its high quality international projects, Ocelot can generate substantial gains in shareholder value even in the current volatile oil market,'' stated David Lyons, Ocelot's Chairman and Chief Executive Officer. ''Ocelot's current financial strength, together with capital which may be derived through a possible disposition of some or all of its Canadian assets will position the Company to fully develop its international properties without seeking further outside equity capital.'' Ocelot Energy Inc. is a publicly traded international energy company engaged in the exploration, production and marketing of oil and natural gas. Ocelot Energy's Class B Subordinate Voting shares and Class A Common shares are listed for trading on the Toronto, Montreal, and Alberta Stock Exchanges under the symbols OCE.B and OCE.A, respectively. For further information on Ocelot, please visit our website at www.ocelot.ca.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:34:00 PM
From: Kerm Yerman	Respond to of 15196

TSE NOTICE / Mercantile International Petroleum Inc. - TSE suspension TORONTO, Dec. 18 /CNW/ - Mercantile International Petroleum Inc. announced today that The Toronto Stock Exchange has determined to suspend trading of Mercantile's common shares effective yesterday. The suspension was imposed for failure by Mercantile to meet the continued listing requirements of The Toronto Stock Exchange including those relating to the financial condition of Mercantile and the price of the common shares (which were recently trading at US$0.01 per share).

To: Kerm Yerman who wrote (14401)	12/18/1998 6:37:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Bowridge Resource Group Closes Sale of Delta X Corp CALGARY, ALBERTA--Bowridge Resource Group Inc. closed its previously announced sale of Delta X Corporation of Houston, Texas to Lufkin Industries Inc. today for $3.7 Million U.S. Bowridge is considering additional investment opportunities with the proceeds from the sale and will continue to expand its Central Production Testing division. Bowridge is a financially strong oil and gas service company that provides oil and gas producers with practical, cost efficient technologies and services to reduce operating costs, increase production, and provide environmental protection and control.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:39:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. NOTICE / Pyramid Energy's Warrants Extended CALGARY, Dec. 18 /CNW/ - Pyramid Energy Inc. announces that its shareholders attending or represented by Proxy at the Special Meeting of the corporation on December 15, 1998, have voted overwhelmingly in favor of extending the Private Placement Warrants and the Canadian Delta Warrants until October 31, 1999. For further details on these warrants, please refer to Pyramid's October 7, 1998 press release. The corporation also wishes to announce that it recently acquired 909,091 shares from an institutional investor at 14 cents per share as part of its Normal Course Issuer Bid transactions. This will bring the total number of shares acquired since July, 16, 1998 to 1,082,591 shares at an average price of 17 cents. The adjusted number of shares issued and outstanding is now 26,969,524. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:42:00 PM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS / APF Energy Trust Announces $0.12 Monthly Distribution; 1998 Distribution Rate Hits 23 Percent CALGARY, -- APF Energy Trust announced that its distribution for the production month of November will be $0.12 per trust unit. The distribution will be made on January 15, 1999, to unitholders of record on December 31, 1998. The ex-distribution date will be Tuesday, December 29, 1998. This is the first distribution to be received by unitholders in 1999 and the first since the Trust completed a new issue of 2,260,000 units on December 1, 1998. With distributions of $1.84 per unit during 1998 and a recent closing price of $7.90, the trailing cash distribution rate of the Trust's units is 23 percent.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:44:00 PM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS - MISC / Board sets distribution payment for TransCanada Gas Processing, L.P. CALGARY, Dec. 18 /CNW/ - The board of directors of TransCanada Gas Processing Ltd., a wholly-owned subsidiary of TransCanada PipeLines Limited and the general partner of TransCanada Gas Processing, L.P. (the Partnership), today declared a distribution payment of 57 cents per outstanding limited partnership unit for the quarter ending December 31, 1998. It is the second distribution payment paid by the Partnership since it was established earlier this year, and is payable on January 29, 1999, to unitholders of record on December 31, 1998. For the period from July 16, 1998 to December 31, 1998, unitholders will receive, including this distribution, $1.05 per unit. TransCanada Gas Processing, L.P. is a Canadian limited partnership that offers investors cash flow with opportunities for growth. The Partnership indirectly holds various interests in midstream assets that provide gathering and processing services to western Canadian oil and gas producers. The Partnership is managed by an indirect wholly-owned subsidiary of TransCanada PipeLines Limited. The Partnership units trade under the symbol TCG.UN on the Toronto and Montréal stock exchanges.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:50:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. ANNOUNCEMENT / Nycan Energy Corp. - Insider Trading LEO J.M. JEGEN INCREASES INTEREST IN NYCAN ENERGY CORP. CALGARY, ALBERTA-- Leo J. M. Jegen advises that he has acquired an additional 962,222 Common shares of Nycan Energy Corp. as part of a flow through share private placement issue by the company. As a result of the acquisition, Mr. Jegen owns 1,397,705 Common shares or 12.17% of the outstanding Common shares of Nycan and an option to purchase 25,000 Common shares. The acquisition is for investment purposes and Mr. Jegen may from time to time, as market opportunities exist or develop increase his beneficial ownership of or control and direction over shares of Nycan through normal market purchases. Mr. Jegen is a Director of Nycan Energy Corp.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:53:00 PM
From: Kerm Yerman	Respond to of 15196

MERGERS - ACQUISITIONS / Canadian Abraxas Petroleum Extends Offer CANADIAN ABRAXAS PETROLEUM LIMITED ANNOUNCES MAILING OF NOTICE OF VARIATION AND EXTENSION CALGARY, ALBERTA-- Canadian Abraxas Petroleum Limited ("Canaxas") announced today that it has mailed a Notice of Variation and Extension dated December 18, 1998 (the "Notice") in connection with the offer made by Canaxas to purchase all of the common shares and associated rights of New Cache Petroleums Ltd. ("New Cache") at a price of $6.50 (Canadian) per common share and associated rights (the "Offer"). Pursuant to the Notice, the expiry date of the Offer has been extended from 12:00 midnight (Toronto time) on December 22, 1998, to 5:00 p.m. (Calgary time) on January 5, 1999. The Offer is conditional, among other things, on a minimum of 66 2/3% of the common shares and associated rights of New Cache being tendered by 5:00 p.m. (Calgary time) on January 5, 1999. The Directors of New Cache have unanimously recommended acceptance of the Offer to shareholders of New Cache. Directors and officers of New Cache holding approximately 20% of the outstanding common shares of New Cache have agreed to tender their common shares and associated rights to the Offer. As of close of business on December 16, 1998, 2,485,310 New Cache common shares and associated rights had been deposited pursuant to the offer. With the extension date falling after the holiday season, Canaxas believes that the extension will facilitate the tender of an increased number of shares to the offer.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:56:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. ANNOUNCEMENT / Reeflex Petroleum Technologies Inc. EDMONTON, Dec. 18 /CNW/ - Reeflex Petroleum Technologies Inc. announces that effective December 1, 1998 it has sold its petroleum and natural gas and related assets located in the Province of Alberta and has approximately $160,000 in funds on hand after paying all debts including its bank loan. The Corporation is actively involved in negotiations to acquire a new asset and has been advised by The Alberta Stock Exchange that if a new asset is not acquired by the Corporation by January 15, 1999, its shares will be suspended from trading.

To: Kerm Yerman who wrote (14401)	12/18/1998 6:58:00 PM
From: Kerm Yerman	Read Replies (5) \| Respond to of 15196

MERGERS - ACQUISITIONS / New Cache Petroleums Ltd. Announces Canadian Abraxas Has Extended Offer to January 5, 1999 CALGARY, Dec. 18 /CNW/ - In connection with the Offer to purchase all of the common shares and associated rights of New Cache Petroleums Ltd. (''New Cache''), at a price of $6.50 (Cdn.) per common share, Canadian Abraxas Petroleum Limited (''Canaxas'') announced today that it has mailed a Notice of Variation and Extension dated December 18, 1998 (the ''Notice''). Pursuant to the Notice, the expiry of the Offer has been extended from 12:00 midnight (Toronto time) on December 22, 1998 to 5:00 P.M. (Calgary time) on January 5, 1999. The Offer is conditional, among other things, on a minimum of 66 2/3% of the common shares and associated rights of New Cache being tendered by 5:00 P.M. (Calgary time) on January 5, 1999. The Directors of New Cache have unanimously recommended acceptance of the Offer to shareholders of New Cache. Directors and Officers of New Cache, holding approximately 20% of the outstanding common shares of New Cache, have agreed to tender their common shares and associated rights to the Offer. As of close of business on December 16, 1998, 2,485,310 New Cache common shares and associated rights had been deposited pursuant to the Offer. With the extension date falling after the holiday season, Canaxas believes that the extension will facilitate the tendering of an increased number of shares to the offer.