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

To: Kerm Yerman who wrote (14589)	12/31/1998 8:30:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Roberts Bay Resources Alberta Drilling Update ROBERTS BAY RESOURCES LTD. - DRILLING ACTIVITY UPDATE CALGARY, ALBERTA-- Further to a release of December 10th Roberts Bay participated to a 35% working interest in two shallow gas tests one at Morrinville and one at Bittern Lake, Alberta. The Morrinville location has been abandoned while the Bittern Lake location has been cased as a potential Ellerslie Gaswell. It is expected that a service rig will be on location to complete the Bittern Lake well prior to January 15th and the 200 M gas tie in will be completed prior to the end of January. In addition the Company continues to work on its high impact Delacour gas/condensate play fifteen miles northeast of Calgary. It is anticipated that the first well on this play will be drilled in the first quarter of 1999. Roberts Bay Resources Ltd. is a public company trading on the Alberta Stock Exchange under the symbol "RBR".

To: Kerm Yerman who wrote (14589)	12/31/1998 8:33:00 PM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES / Petro-Canada - Rig Begins Grand Banks Exploration Program ST. JOHN'S, NF, Dec. 31 /CNW/ - Drilling of an appraisal well at the Hebron area of the Grand Banks has started on behalf of a consortium of major oil companies. The drilling rig Glomar Grand Banks, owned by Glomar International (Canada) Drilling Company, spudded the D-94 well late in the evening yesterday, December 30th. This is the fourth well in the area since the first exploration well on the Hebron structure was drilled in 1980. ''This drilling program is another indication of our industry's interest in the Grand Banks, and a recognition of the importance of the offshore oil industry to Newfoundland's economy and employment picture,'' said Andrew Adams, chairman of a management committee of oil companies conducting the drilling program. The cost of drilling Hebron D-94 is approximately $30.5 million and is being shared by the members of the consortium. Interests in the Hebron well are held by Chevron Canada Resources (31.9%), Mobil Canada (36.8%), Norsk Hydro Oil & Gas Inc. (9.4%) and Petro-Canada (21.9%). The well is located 340 kilometres southeast of St. John's and about 10 kilometres north of the Terra Nova field. The rig recently underwent an extensive refit and spent the last several weeks at the Friede Goldman Newfoundland Ltd. shipyard in Marystown where some final work was completed. Approximately 80 per cent of the crews assigned to the drilling program are Newfoundlanders. Of the 210 positions required by the semi-submersible rig and accompanying supply ships, 168 people are from Newfoundland. In addition, 54 Newfoundlanders are employed for shore base support, providing helicopter services, weather forecasting and conducting drilling operations assistance. Newfoundland workers account for 87 per cent of those employed for shore base support. ''We're pleased that so many residents of the province will be involved in this program,'' said Gary Bruce, Vice-President, Offshore Development and Operations for Petro-Canada, operator of the D-94 well. Two supply vessels for the drilling program will be operated by Seabase, a Newfoundland company, and contracted from Maersk Company of Canada Ltd. Cougar Helicopters Inc. of St. John's is providing air transportation services.

To: Kerm Yerman who wrote (14589)	12/31/1998 8:35:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Big Horn Resources Ltd. Flow-Through Shares CALGARY, Dec. 31 /CNW/ - Big Horn Resources Ltd. (BGH - TSE, VSE) announces that it has entered into agreements to issue an aggregate of 1,075,500 ''flow-through'' common shares at a price of $0.85 per share for gross proceeds of $914,175. The securities will be issued pursuant to the private placement exemptions under Canadian securities laws. As a result of this private placement Big Horn will have approximately 18,122,191 common shares issued and outstanding. The proceeds realized by Big Horn from the issuance of the ''flow-through'' common shares will be used to fund the 1998/1999 exploration drilling program. Big Horn is a Calgary based oil and gas producer with properties in northwest Alberta and western Saskatchewan. Big Horn's securities are traded on The Toronto Stock Exchange and the Vancouver Stock Exchange under the trading symbol ''BGH''.

To: Kerm Yerman who wrote (14589)	12/31/1998 8:38:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Serval Integrated Energy Services to Change Fiscal Year End CALGARY, Dec. 31 /CNW/ - Serval Integrated Energy Services (ASE: SI.UN) announced today that it has changed its fiscal year end from April 30 to December 31, effective December 31, 1998. This change in fiscal year will make Serval's financial reporting consistent with most of its energy industry peers who report on a calendar year basis. In addition, this change will make Serval's financial reporting consistent with its tax year end. This change is subject to regulatory approvals. Serval provides integrated energy services across Western Canada. Serval units are listed for trading on the Alberta Stock Exchange under the trading symbol SI.UN. Currently there are 4,778,160 units outstanding.

To: Kerm Yerman who wrote (14589)	12/31/1998 8:40:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / PEYTO Exploration & Development Corp. Private Placement CALGARY, Dec. 31 /CNW/ - PEYTO Exploration & Development Corp. is pleased to announce the successful completion of the private placement of 3,267,500 flow-through shares at $0.20 each for proceeds of $653,500. The securities were issued without payment of any commissions and pursuant to the private placement exemptions under Canadian securities laws. Proceeds from the placement will be used to fund Peyto's 1999 drilling projects. Peyto plans to drill its first well in January, 1999.

To: Kerm Yerman who wrote (14589)	12/31/1998 8:43:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Devlan Exploration Inc. Completes Private Placement CALGARY, Dec. 31 /CNW/ - DEVLAN EXPLORATION INC. is pleased to announce that it has completed two private placements. Gross proceeds to the Corporation are approximately $450,000 and $500,000. Devlan will use the net proceeds from the Flow Through common shares to incur Canadian exploration expenses and Canadian development expenses on its properties at Lethbridge, Alberta and its recently acquired property at Marten Hills in North Central Alberta. Devlan is also pleased to announce that it has completed the purchase of the Marten Hills property in north central Alberta for cash consideration of $5.175 million. The property includes two identical dehydration/compression packages and 28 miles of gathering and sales pipeline. In addition to the facilities, Devlan is acquiring 56,872 net undeveloped acres with four producing gas wells that averaged an aggregate 2,000 mcfd net production during a production audit carried out by Devlan personnel during the first week of December 1998. Production is from the Viking, Colony, Sparky, and Clearwater Formations at depths from 400 to 700 metres. Proven Gross Company Reserves, as reported by an independent engineering firm, is 5.284 Bcf. The Company will begin optimization and exploitation of the property immediately and expects to bring on an incremental 2,000 mcfd soon thereafter by improving operating practices and perforating two wells with significant bypassed pay. DEVLAN EXPLORATION INC. is a Calgary based oil and Natural Gas Company focused on asset optimization and production enhancement. Devlan's current exploration and production activities are concentrated on Company operated natural gas properties in Alberta.

To: Kerm Yerman who wrote (14589)	12/31/1998 8:45:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Equatorial Energy Inc. Private Placement CALGARY, Dec. 31 /CNW/ - EQUATORIAL ENERGY INC. announced today that it has completed its previously announced private placement of 6,750,090 common shares of Equatorial Energy Inc. on a flow-through basis at a price of $0.55 per flow-through common share for gross proceeds of $3,712,549.50. The funds will be applied to Equatorial's planned exploration and development of the properties to be acquired from Gulf Canada Resources Limited. Emerging Equities Inc. of Calgary, Alberta acted as agent for the private placement. Equatorial is a Calgary based oil and gas company whose common shares trade on The Vancouver Stock Exchange under the symbol OZ.

To: Kerm Yerman who wrote (14589)	12/31/1998 9:27:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

TSE-MSE-VSE-ASE / Closing Market Reports Toronto Stock Exchange - DAILY MARKET SUMMARY FOR Thursday, December 31, 1998 04:09 PM TORONTO, Dec. 31 /CNW/ - TSE 300 COMPOSITE INDEX UP PERCENTAGE CHANGE 00.86% POINTS CHANGE 55.25 TSE 300 INDEX LEVEL 6485.3 TRADING VOLUME 55 854 188 Shares VALUE $769,101,804.00 TRANSACTIONS 28 447 ADVANCING ISSUES 637 DECLINING ISSUES 273 UNCHANGED ISSUES 286 TSE 35 INDEX IS UP PERCENTAGE CHANGE 0.89% POINTS CHANGE 003.12 TSE 35 INDEX LEVEL 351.91 TSE 100 INDEX IS UP PERCENTAGE CHANGE 0.75% TOTAL POINTS CHANGE 003.01 TSE 100 INDEX LEVEL 397.26 14 OF THE SUB-GROUP INDICES ARE HIGHER COMMUNICATIONS AND MEDIA IS UP 1.63% OR 245.28 TO 15291.06 ACTIVE STOCKS TIPS IS UP $0.40 TO $35.25 CIBC IS UP $0.60 TO $38.05 LARGE PRICE CHANGES IMAX CORP IS UP $4.40 TO $49.00 BALLARD POWER IS DOWN $2.05 TO $41.25 ---------------------------------------------------------- Montreal Exchange - Daily stock market report - Closing General activity on The Montreal Exchange at 4 p.m. (including the early morning session): Trading SLOW Volume traded: 7.2 million shares Value traded: 56.6 million dollars Indices: XXM close +21.51 3333.26 high 3338.83 low 3307.33 Montreal Exchange most active stocks: GULF CDN RES +0.31 4.41 DOMTAR INC. +0.30 8.85 CAMBRIDGE SHOPP UNCHANGED 12.60 BIOCHEM PHARMA +0.60 44.10 DENISON MINES UNCHANGED 0.090 ----------------------------------------------------------- Vancouver Stock Exchange Closing Market Report for December 31, 1998 VANCOUVER, Dec. 31 /CNW/ - Trading was moderate on a volume of 21.6 million shares worth 12.7 million dollars, with 216 advances, 106 declines and 368 issues unchanged. The VSE Composite Indicator closed up 13.21 at 396.25 The VSE Mining Indicator closed up 6.76 at 295.27 Most Active Issues by Volume Volume Name Symbol Close Change 618,125 Polymet Mining Corp. POM 1.28 -0.07 605,500 Oriole Systems Inc. OOL 0.25 0.06 560,185 Winspear Resources Ltd. WSP 4.45 0.51 328,592 Olympus Pacific Minerals OYM 0.09 0.02 327,262 Argosy Mining Corp. AGO 0.15 0.01 ------------------------------------------------------------- The Alberta Stock Exchange Closing Market Report for Thursday December 31, 1998 ALBERTA STOCK EXCHANGE Daily Trading Summary for: 12/31/1998 Shares Dollar Issues Traded Value Traded Advances Declines Unchanged 13,309,228 3,989,945.00 385 164 91 130 Net Top Five Dollar Value Volume Close Change Trades 1,097,845.00 PRIZE ENERGY INC 2,825,000 .420 .070 26 468,002.00 TELEBACKUP SYSTEMS 46,640 10.150 .150 16 145,343.00 BLUESTAR BATTERY SYST 70,800 2.250 .400 40 120,200.00 NETALCO CORPORATION 1,202,000 .100 15 93,440.00 FIRST STAR ENERGY 260,500 .370 .090 44 Net Top Five Volume Value Close Change Trades 2,825,000 PRIZE ENERGY INC 1,097,845 .420 .070 26 1,202,000 NETALCO CORPORATION 120,200 .100 15 556,000 ICE DRILLING ENT 55,550 .100 34 500,000 GLENHAVEN RESOURCES I 25,000 .050 .015 1 482,000 SAVANNA RESOURCES LTD 8,140 .015 10 Alberta Combined Value Index: 1,761.32 Change: 35.54 (x)J-JCP Total Number of Trades: 1,508 ------------------------------------------------------------------