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

To: Kerm Yerman who wrote (14496)	12/23/1998 8:34:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY DISPOSITION / Elk Point Announces Sale of Facilities and Exploration Success at True Grit, Wyoming TSE SYMBOL: ELK DECEMBER 23, 1998 CALGARY, ALBERTA--Elk Point reports that is has signed a letter agreement for the sale of two gas processing facilities at a price of $4 million. The Company has also signed letter agreements for the sale of minor properties totaling approximately $0.5 million. The Company recently equipped a successful oil well for production on an exploration prospect at True Grit in the Powder River Basin of Wyoming. The Company has a 48 percent working interest in the well which has been placed on production at an initial rate of 460 barrels per day. A gas well in which the Company has a 62.5 percent working interest was brought on-stream at Granlea in southeastern Alberta at a rate of 1.5 million cubic feet per day. Drilling operations are continuing at Ferrier with a vertical and a horizontal well targeting natural gas and natural gas liquids. A relief well at East Lost Hills in California is also currently drilling. Elk Point reports that Good Production Practice ("GPP") became effective at the Pembina Pekisko C Pool on December 1, 1998. Field production and gas injection has been gradually increased over the past three weeks. With GPP now in effect, the Company will proceed with pumping optimization and well stimulation programs.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:37:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY DISPOSITION / PanAtlas Closes Property and Equity Sales TSE SYMBOL: PA DECEMBER 23, 1998 CALGARY, ALBERTA--On November 6, 1998 PanAtlas announced intentions to raise funds from the sale of non-core properties and equity. The undertaking was successful in raising $2.325 Million. Three non-core producing properties were sold for a total of $900,000. Total production from these properties prior to closing amounted to 55 Boepd. In addition to the property rationalization, $1.325 Million was raised through the sale of 3,312,500 flow through shares at a price of $0.40 per share. 1998 production is expected to average 2,140 Boepd, 35 percent natural gas, yielding $5.5 Million in cash flow ($0.11 per share). Management's initiatives have been successful in controlling debt in a period of falling oil prices. Our year-end debt, net of working capital projections is forecast to be $13.3 Million representing approximately 2.4 times 1998 forecast cash flow. PanAtlas is a public oil and gas company based in Calgary with common shares trading on The Toronto Stock Exchange under the Symbol "PA".

To: Kerm Yerman who wrote (14496)	12/23/1998 8:39:00 PM
From: Herb Duncan	Respond to of 15196

PROPERTY ACQUISITION / Globex Acquires a Package of Producing Oil and Gas Assets and Significantly Expands its Reserves, Production and Cash Flow Base ASE SYMBOL: GBX DECEMBER 23, 1998 CALGARY, ALBERTA--Globex Resources Ltd is pleased to announce that, pursuant to an assignment of a purchase and sale agreement, it will be acquiring, through a wholly owned subsidiary, all of the issued and outstanding shares of a private oil and gas company as well as directly held joint venture interests of another company in various producing oil and gas properties in Western Canada. These acquisitions are expected to close prior to the end of 1998. The acquisitions will be financed through the use of cash resources at hand and bank debt. The acquisitions will provide Globex with the following: - 2.5 million cubic feet per day of natural gas production - 200 barrels per day of crude oil and natural gas liquids production - 900,000 barrels of oil equivalent of proven reserves - 300,000 barrels of oil equivalent of probable reserves - 23,000 net acres (124,000 gross acres) of undeveloped lands. On completion of these acquisitions, Globex will transform into a full operating oil and gas company increasing its production from 50 to 500 barrels of oil equivalent per day. The Company will embark on an extensive exploitation and rationalization program on the acquired properties to further increase its reserves, production and cash flow in Western Canada. The Company also announced that it is raising up to $500,000 of equity through a private placement at $0.50 per share by the issuance of up to 1 million common shares. Shares issued under this offering will be subject to a one-year hold. Investors will be renounced Canadian Exploration Expenditures for the full amount of subscription in 1998 for income tax purposes. Proceeds from this financing will be utilized for exploiting Company's existing and newly acquired properties. Globex was formed in 1997 and recently completed its major transaction. The Company's initial focus is to rapidly build its production base by acquisition and development drilling in Western Canada. For the medium term, Globex is also pursuing international oil and gas opportunities. Globex presently has 8,110,000 common shares that are issued and outstanding and trades on the Alberta Stock Exchange under the symbol GBX.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:43:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Founders Energy Ltd. Acquires Opal Energy Inc. TSE SYMBOL: FDE DECEMBER 23, 1998 CALGARY, ALBERTA--("FDE"-TSE) Founders Energy Ltd. ("Founders") today announced that an aggregate of 30,377,447 common shares of Opal Energy Inc. ("Opal") representing approximately 75.4 percent of the outstanding common shares of Opal have been validly deposited in accordance with the terms of Founders' Offer dated November 30, 1998 to acquire all the issued and outstanding shares of Opal (the "Offer"). All conditions of the Offer have been satisfied or waived by Founders and Founders has taken up and paid for all of the common shares of Opal that were validly tendered in accordance with the terms of the Offer by providing notice and the necessary consideration to Montreal Trust Company of Canada in accordance with the terms of the Offer and applicable securities laws. To facilitate the deposit of the remaining common shares of Opal under the Offer, Founders has extended the offer to expire at 5:30 p.m. (Calgary time) on Tuesday, January 12, 1999. A Notice of Extension is expected to be mailed shortly. Founders is also pleased to announce the appointment of Mr. Grant D. Billing as the Chairman of the Board of Directors of Founders. In addition, two nominees of Opal, Kelly J, Ogle and Joseph S. Durante, will be appointed to the Board of Directors of Founders. Founders Energy Ltd. is an aggressive Canadian junior oil and gas company that is engaged in exploration, acquisition and production of crude oil and natural gas reserves in Alberta, Saskatchewan and British Columbia.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:45:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Opal Energy Inc. Acquired by Founders Energy Ltd. TSE SYMBOL: OPE DECEMBER 23, 1998 CALGARY, ALBERTA--Opal Energy Inc. ("Opal") today announced that an aggregate of 30,377,447 common shares of Opal representing approximately 75.4 percent of the outstanding common shares of Opal have been validly deposited in accordance with the terms of an offer by Founders Energy Ltd. ("Founders") dated November 30, 1998 to acquire all the issued and outstanding shares of Opal (the "Offer"). All conditions of the Offer have been satisfied or waived by Founders and Founders has taken up and paid for all of the common shares of Opal that were validly tendered in accordance with the terms of the Offer by providing notice and the necessary consideration to Montreal Trust Company of Canada in accordance with the terms of the Offer and applicable securities laws. To facilitate the deposit of the remaining common shares of Opal under the Offer, Founders has extended the offer to expire at 5:00 p.m. (Calgary time) on Tuesday, January 12, 1999. A Notice of Extension is expected to be mailed shortly. Following the take up and payment by Founders of the Opal shares tendered under the Offer, the directors and officers of Opal, other than Joseph S. Durante, will resign and be replaced by nominees of Founders. Thomas W. Buchanan, President and Chief Executive Officer of Founders, will be appointed the President and Chief Executive Officer of Opal and Kelly D. Cowan, Senior Vice President and Chief Operating Officer of Founders, will be appointed to such a position with Opal.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:49:00 PM
From: Herb Duncan	Respond to of 15196

CORP / CGX Energy Inc. ("CGXX.U") Commences Trading On Canadian Dealing Network On Thursday, December 24, 1998 SHARES OUTSTANDING: 21,966,756 FULLY DILUTED: 23,629,756 CANADIAN DEALING NETWORK SYMBOL: CGXX.U DECEMBER 23, 1998 TORONTO, ONTARIO--The Canadian Dealing Network Inc. has approved quotation of the common shares of CGX Energy Inc. Quotation on the CDN system under the symbol "CGXX.U" will be available starting December 24, 1998. CGX Energy has a 12,800 sq km (3,200,000 acres) offshore oil and gas concession in the territorial waters of Guyana (South America), located between producing oil fields in Venezuela and Suriname. Apex Petroleum Consultants Inc. ("Apex") have reported that two potential reservoirs in the form of deep-sea fans have been identified from 2-D seismic surveys. Apex reported that the P50 percent combined reserve potential of the two fans is 1.6 billion recoverable barrels. Apex reported that the CGX concession is contiguous to mature world-class source rocks of the Guyana Basin, which are age-equivalent to the nearby East Venezuela Basin source rocks. In October 1998, Strain Consultants Inc. ("Strain Consultants") of Houston, Texas carried out an independent review of the Apex Report and endorsed Apex's calculations. Strain Consultants also reported that deep-sea turbidite fans have hosted major oil discoveries in the Atlantic Basin in Angola, the North Sea and the Gulf of Mexico. Strain Consultants reported that success rates in offshore drilling of targets validated by modern seismic surveys have exceeded 30 percent since 1985. Based on the seismic surveys available to CGX Energy, Apex estimated the probability of success of an economic oil discovery at 9 percent. CGX Energy is planning to carry out a modern seismic survey in order to upgrade its probability of success. CGX Energy is currently carrying out a re-interpretation of near-shore seismic surveys carried out in the 1970s and 1980s in order to identify other targets. Directors of CGX Energy are Denis Clement, Oliver Lennox-King, Kerry Sully and John Cullen. Mr. Sully was formerly President, Ranchmen's Resources. Warren Workman is Vice President, Exploration. Mr. Workman was formerly Vice President, Exploration of Ranchmen's Resources and at one time was Manager of Exploration in the Gulf of Mexico for Unocal. In a statement, Mr. Clement, the President of CGX Energy, said: "CGX Energy has a unique world-class exploration opportunity. The success rates in recent offshore oil exploration have been very high, with major recent successes in the Atlantic offshore of Africa." THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY AUTHORITY OR SIMILAR BODY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:53:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Robert W. Lamond And Humboldt Capital Corporation Increase Interest In Diaz Resources Ltd. VSE SYMBOL: HMB.A HMB.B DECEMBER 23, 1998 CALGARY, ALBERTA--Lamond Investments Ltd., a company wholly owned by Robert W. Lamond, and Humboldt Capital Corporation, a public company controlled by Mr. Lamond, advise that they have acquired an additional 666,000 Class A Subordinate Voting Shares of Diaz Resources Ltd. ("Diaz") (VSE: DZR.a/DZR.b). All of the shares were purchased privately from Diaz as part of a flow through share issue. As a result of the acquisition, Mr. Lamond, Lamond Investments Ltd. and Humboldt Capital Corporation own 5,089,361 Class A Subordinate Voting Shares and options to purchase a further 350,000 Class A Subordinate Voting Shares. Assuming the options are exercised, this represents 56 percent of the outstanding Class A Subordinate Voting Shares. In addition, they own 4,022,361 Class B Multiple Voting Shares or 64 percent of the outstanding Class B Multiple Voting Shares. The acquisitions are for investment purposes and each of Mr. Lamond and Humboldt may from time to time, as market opportunities exist or develop, increase their beneficial ownership of or control and direction over shares of Diaz through normal market purchases or otherwise as permitted by securities regulations. R.W. Lamond is the Chairman of the Board of, and holds approximately 60 percent of the outstanding shares of Humboldt.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:53:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Petromet Resources Limited Announces Flow-Through Share Offering TSE SYMBOL: PNT NASDAQ SYMBOL: PNTGF DECEMBER 23, 1998 CALGARY, ALBERTA--Petromet Resources Limited ("Petromet" or the "Corporation") today announces its intention to issue up to approximately 857,143 flow-through common shares of the Corporation at a subscription price of $3.50 per share. Gross proceeds of $3,000,000 are split into $2,250,000 on a bought deal basis and $750,000 on a best efforts agency basis. The shares will be issued pursuant to exemptions from the registration and prospectus requirements of Canadian securities laws through a syndicate with Griffith McBurney & Partners as lead managing agent and including First Marathon Securities. The proceeds of this issue will be used to fund part of Petromet's exploration program. Petromet will renounce to subscribers Canadian Exploration Expenses equal to the subscription amount. Petromet is currently drilling its fourth 4,200 metre Leduc exploration well at Wild River, where the Corporation has experienced a 100 percent success rate during the past year on three exploration wells for this target. Petromet holds a working interest of 100 percent in this well. The Corporation is also participating in a 4,100 metre exploration well for the Wabamun zone at Kakwa where significant reserve discoveries in this horizon have been reported by industry competitors. Petromet holds a working interest of 16 percent in this well before payout, and 30 percent after payout. Closing of this issue is subject to regulatory approval and is anticipated to occur on or before December 30, 1998. Petromet is an active natural gas exploration, development, and production corporation focused on west central Alberta. The Corporation's common shares trade on the TSE and the NASDAQ (PNT and PNTGF respectively), and its convertible debentures trade on the TSE (PNT.DB). This news release contains forward-looking statements that are subject to risk factors associated with the oil and gas business. The Corporation believes that the expectations reflected in this release are reasonable, but results may be affected by variables including, but not limited to, price fluctuations, currency fluctuations, industry competition, environmental risks, political risks, and capital restrictions.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:57:00 PM
From: Herb Duncan	Respond to of 15196

CORP / EPIC ENERGY INC. DECEMBER 23, 1998 TORONTO, ONTARIO--The Cease Trading Order November 20th, 1998 was rescinded December 23rd, 1998 the company being up to date in its filings.

To: Kerm Yerman who wrote (14496)	12/23/1998 8:59:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Del Roca Energy Ltd. Announces a Normal Course Issuer Bid ASE SYMBOL: DRQ DECEMBER 23, 1998 CALGARY, ALBERTA--DEL ROCA ENERGY LTD. (the "Corporation" or "Del Roca"), announces that a notice to make a Normal Course Issuer Bid (the "Bid") has been accepted by The Alberta Stock Exchange. Pursuant to the Bid, Del Roca may purchase, from time to time as it considers advisable, up to 600,000 of the issued and outstanding common shares of Del Roca through the facilities of The Alberta Stock Exchange. The price which Del Roca will pay for any shares purchased by it will be the prevailing market price of such shares on the Alberta Stock Exchange at the time of the purchase. Purchases may commence on December 22, 1998 and will terminate on the earlier of the date on which Del Roca shall have acquired all of the common shares sought pursuant to the Bid, and December 21, 1999, unless earlier terminated. In the view of the board of directors of the Corporation, the common shares of the Corporation are undervalued on the market and purchases of the Corporation's common shares at the current market price would be advantageous to shareholders of the Corporation.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:00:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Founders Energy Ltd. Completes Private Placement of Flow-Through Shares TSE SYMBOL: FDE DECEMBER 23, 1998 CALGARY, ALBERTA--("FDE"-TSE) Founders Energy Ltd. ("Founders") today announced that it has completed the private placement of 6,930,000 common shares of Founders issued on a flow-through basis at a price of $0.75 per share for gross proceeds of $5,197,500. The shares were issued pursuant to an underwriting agreement with Griffiths McBurney & Partners. Proceeds of the issuance will be used to fund Founders exploration expenditures in British Columbia, Alberta and Saskatchewan and Founders will renounce to subscribers Canadian Exploration Expenses equal to the subscription amount for the shares. Founders Energy Ltd. is an aggressive Canadian junior oil and gas company that is engaged in exploration, acquisition and production of crude oil and natural gas reserves in Alberta, Saskatchewan and British Columbia.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:02:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Gopher Oil & Gas Announces Intention to Change Fiscal Year End Date ASE SYMBOL: GOF DECEMBER 23, 1998 CALGARY, ALBERTA--Gopher Oil & Gas Company Ltd. ("Gopher") has announced that it intends to change its fiscal year end from May 31 to December 31, effective 1998. This change to Gopher's fiscal year end is being implemented to align Gopher's fiscal year end with the year-ends of its industry partners, which will result in greater administrative and reporting ease for Gopher. The last day of the Gopher's old financial year was May 31, 1998 and the last day of Gopher's transition financial year will be December 31, 1998. During the transition year, interim financial statements were filed for the quarter ended August 31, 1998 and will be filed for the quarter ended November 30, 1998. The annual financial statements for the transition year will be filed for the period ending December 31, 1998. In the new financial year, Gopher's interim financial statements will be filed for the periods ending March 31, 1999, June 30, 1999 and September 30, 1999, with annual financial statements for the new financial year to be filed for the period ending December 31, 1999.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:06:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / Thunder Energy Inc. Completes Flow-Through Share Offering TSE SYMBOL: THY DECEMBER 23, 1998 CALGARY, ALBERTA--Thunder Energy Inc. (THY - TSE) announced today it has completed its flow-through share offering with the issue of 800,000 shares at $1.90 for total proceeds of $1,520,000. This final placement was completed without the payment of any commissions and as a result provided the Company with the equivalent net proceeds per share as previously announced closings. In total the Company has issued 2,052,500 flow-through shares for gross proceeds of $4,024,000 during the fourth quarter. The shares have been issued pursuant to exemptions from the registration and prospectus requirements of Canadian securities laws. Capital raised under this offering will be used to fund Thunder's 1998/1999 drilling program. In 1999, Thunder estimates total capital expenditures of $15 million which will result in the drilling of up to 45 (22 net) wells. Thunder Energy is a Calgary-based oil and gas exploration company operating in Alberta. Thunder's shares are traded on the Toronto Stock Exchange under the trading symbol "THY". The flow-through common shares have not been and will not be registered under the United States Securities Act of 1933 and, as a result, these securities may not be offered or sold within the United States.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:09:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Big Bear Exploration Ltd. Extends Its Offer To Purchase Blue Range Resource Corporation Shares TSE SYMBOL: BDX DECEMBER 23, 1998 CALGARY, ALBERTA-- THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Big Bear Exploration Ltd. announced today that 85.2 percent of Blue Range Resource Corporation's outstanding shares have now been deposited pursuant to Big Bear's take-over bid. Big Bear's offer to purchase Blue Range shares has been extended to Friday, 3:00 p.m. Calgary time on January 8, 1999 in order to give Blue Range shareholders sufficient time over the holidays to tender their shares. Blue Range is a subsidiary of Big Bear Exploration Ltd. which is a Calgary based oil and gas company listed on The Toronto Stock Exchange under the symbol "BDX".

To: Kerm Yerman who wrote (14496)	12/23/1998 9:33:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANNOUNCEMENT / Hurricane Hydrocarbons Ltd. Initial Meeting with Shymkent Refinery CALGARY, Dec. 23 /CNW/ - Hurricane Hydrocarbons Ltd. announces that Hurricane and its financial advisors, Donaldson, Lufkin and Jenrette (DLJ) have agreed to an initial meeting with representatives of the Shymkent refinery. The meeting is scheduled to take place in early January 1999. Hurricane is an independent international energy corporation engaged in the acquisition, exploration and production of oil, primarily in the Republic of Kazakhstan. The corporation's shares are listed on The Alberta Stock Exchange, The Toronto Stock Exchange (TSE) under the trading symbol HHL.A and are quoted for trading on The Nasdaq National Market under the symbol HHLAF. Hurricane is a member of the TSE 300 and TSE 200 Composite Indexes.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:35:00 PM
From: Kerm Yerman	Respond to of 15196

PROPERTY DISPOSITION / Stellarton Energy Corporation Announces Property Divestment Closing CALGARY, Dec. 23 /CNW/ - Stellarton Energy Corporation (TSE:SRT.A) is pleased to announce that it has closed the sale of specified assets in the South Carrot Creek, Kaybob, Macleod and Pine Creek areas of Alberta. The closing of the sale transactions has resulted in net proceeds to Stellarton of approximately $45.5 million after adjustments. The effective date of the transactions is October 1st, 1998. As a result of the acquisition of the SGS Partnership interests announced on September 29, 1998 and the divestment transactions that closed today, Stellarton's production increases from an average of 1596 boe/day in the third quarter to average of approximately 2500 boe/day in the fourth quarter. Following completion of the announced transactions, Stellarton's ''go forward'' debt to cash flow will be approximately six months with an actual debt level of about $4 million. The closing of the transactions provide Stellarton with significantly enhanced financial flexibility. The Resources Division will continue to pursue acquisition and development opportunities using Stellarton's unique combination of skills and technology.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:38:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Naftex Energy and Cabre Exploration clarify operatorship and update operations in Egypt VANCOUVER, Dec. 23 /CNW/ Naftex Energy Corporation Trading Symbol: NFTX NAFTEX ENERGY CORPORATION (''Naftex'') wishes to advise that pursuant to an agreement dated June 3, 1996 between Coplex (Egypt) Limited (''Coplex''), a wholly owned subsidiary of Naftex, and Cabre Exploration (Cyprus) Limited (''Cabre''), a subsidiary of Cabre Exploration Ltd., Coplex became the interim operator of the West Esh El Mallaha (''WEEM'') Concession onshore Egypt and Cabre had the right to become operator under certain conditions. In January 1998 pursuant to the WEEM Concession Agreement, a joint company (''ESHPETCO'') was formed by the Egyptian General Petroleum Corporation, Coplex and Cabre. Coplex and Cabre each have a 50 percent beneficial interest in WEEM. Coplex and Cabre have agreed that as the operations within WEEM become more production and development oriented, Cabre, with its extensive production experience will become the operator and appoint the General Manager of ESHPETCO by the earlier of reaching 10,000 barrels of oil production per day for 90 days or July 18, 2000, being the end of the Exploration Period of the WEEM Concession. Meanwhile an employee of Cabre has been appointed Deputy Finance Manager of ESHPETCO. The companies are continuing to develop the Rabeh oil discovery, interpret over 200 km2 of new 3-D and 400 km of 2-D seismic data and continue drilling on the 222,000 acre concession. The Rabeh-3 well was perforated over 38 feet in the Nubian sands on December 8, 1998 and is flowing at a rate of approximately 1,600 barrels of oil per day. Storage for 5,000 barrels of oil is being constructed and steps to ensure future production can be trucked or pipelined and processed at nearby marine terminals are being taken. On December 11, 1998 an exploratory well, Wadi El Sahl N-1 was spudded, following which Rabeh-4 will be drilled. A total of 94,041,963 shares of Naftex is presently issued and outstanding.

To: Kerm Yerman who wrote (14496)	12/23/1998 9:41:00 PM
From: Kerm Yerman	Read Replies (12) \| Respond to of 15196

ASE BULLETIN / Cephalon Resource Corp Shares Delisted CALGARY, Dec. 23 /CNW/ - BULLETIN NO.: 9812 - 757 DELISTING CEPHALON RESOURCE CORPORATION (CHR and CHR.DB) The common shares and convertible redeemable debentures of Cephalon Resource Corporation will be delisted at the close of business on THURSDAY, DECEMBER 24, 1998 for failure to maintain the continued listing requirements of the Exchange. The Company's common shares have been suspended from trading in excess of six months.