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

To: Jim Durward who wrote (14608)	1/4/1999 8:46:00 PM
From: Herb Duncan	Respond to of 15196

MERGERS-ACQUISITIONS / Nevada Manhattan Petroleum Distribution Acquisition OTC Bulletin Board SYMBOL: NVMH JANUARY 4, 1999 CALABASAS, CALIFORNIA-Nevada Manhattan Group Inc. (OTC BB:NVMH) announced that it has reached an agreement to acquire control of a major independent petroleum distribution company based in the Western United States. The company has shown consistent profitability on substantial revenues. Mr. Chris Michaels, chairman, stated: "This is a strategic investment, the details of which will soon be announced. This will be a vital contributor to our overall energy division." Matters discussed in this release include forward-looking statements that involve risks and uncertainties. Actual results may be materially different. Factors that could cause actual results to differ include risk factors listed in the company's reports to the Securities and Exchange Commission, including Form 10-KSB and Form 10-QSB on file with the SEC. For more information on Nevada Manhattan Group, contact Yvonne Cambere at 818/591-4400, e-mail: administration@nevadamanhattan.com, or visit the company's Web site at www.nevadamanhattan.com.

To: Jim Durward who wrote (14608)	1/4/1999 8:48:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / 12,764,040 Scarlet Shares and 22,000,000 Special Warrants Tendered to Gopher Offer ASE SYMBOL: GOF JANUARY 4, 1999 CALGARY, ALBERTA--Ventus Energy Ltd. (formerly, Gopher Oil & Gas Company Ltd.) ("Ventus") (GOF: ASE) announces that approximately 12,764,040 common shares ("Scarlet Shares") and 22,000,000 special warrants ("Special Warrants") of Scarlet Exploration Inc. (Scarlet"), representing approximately 91 percent of the outstanding Scarlet securities were tendered under its offer to purchase all of the issued and outstanding Scarlet Shares and all of the Special Warrants dated December 7, 1998 all of which were taken up and paid for on December 31, 1998. Ventus also announces that it intends to acquire all of the remaining outstanding Scarlet Shares pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta). As a result of Ventus taking up the Scarlet Shares and Special Warrants, the subscription proceeds received from the sale of the Special Warrants held by Montreal Trust Company of Canada pursuant to a special warrant indenture dated December 10, 1998 between Ventus, Scarlet and Montreal Trust Company of Canada has been released to Ventus. Ventus also announces that at the annual and special meeting of its shareholders held on December 30, 1998, its shareholders approved, among other matters, the change of name of Gopher Oil & Gas Company Ltd. to Ventus Energy Ltd. and the consolidation of its common shares on a one-for-four basis. Kevin A. Bennett, President and Chief Operating Officer of Ventus said, "The response of the Scarlet shareholders reflects, what was in our opinion, a fair offer for the Scarlet Shares. In addition, this outcome reflects their support of the combined company to continue to enhance shareholder value." Ventus also announces that Edward Chwyl has been appointed as a director of Ventus, Chairman of the Board and Chief Executive Officer effective January 1, 1999.

To: Jim Durward who wrote (14608)	1/4/1999 8:52:00 PM
From: Herb Duncan	Respond to of 15196

CORP / RE: Ryan Energy Technologies Inc. JANUARY 4, 1999 CALGARY, ALBERTA--R. Chaney & Partners III L.P. and R. Chaney & Partners IV L.P. of Houston, Texas announce that as a result of market purchases on The Toronto Stock Exchange, they now on a combined basis exercise control and direction over 2,901,400 common shares of Ryan Energy Technologies Inc., representing approximately 14.2 percent of the current outstanding shares. R. Chaney & Partners, Inc. is the general partner of R. Chaney & Partners III L.P. and R. Chaney Investments, Inc. is the general partner of R. Chaney & Partners IV L.P. Both limited partnerships are U.S. investment funds specializing in emerging energy technology companies. Robert H. Chaney is the sole shareholder of both general partners. Although the limited partnerships may make further purchases of Ryan Energy Technologies Inc., it is not the current intention of either limited partnership to acquire control of Ryan Energy Technologies Inc. Furthermore, there are no current plans to appoint a nominee of the general partner of either limited partnership to the board of Ryan Energy Technologies Inc. This press release has been issued in order to comply with applicable securities legislation.

To: Jim Durward who wrote (14608)	1/4/1999 8:54:00 PM
From: Herb Duncan	Respond to of 15196

FINANCING / PanAtlas Increases Flow Through Share Offering TSE SYMBOL: PA JANUARY 4, 1999 CALGARY, ALBERTA--Subsequent to an announcement December 23, 1998, PanAtlas received regulatory approval to extend final closing of a private placement flow through share offering to December 31, 1998. Additional flow through share subscriptions for 625,000 shares at $0.40 per share were received and closed. Total gross proceeds for the 1998 flow through offering were $1,575,000 from the issuance of 3,937,500 flow through shares. 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: Jim Durward who wrote (14608)	1/4/1999 8:59:00 PM
From: Herb Duncan	Respond to of 15196

EARNINGS / Hyduke Announces Its Second Quarter Financial Results ASE SYMBOL: HYD JANUARY 4, 1999 EDMONTON, ALBERTA--Hyduke Resources Ltd. announces their financial results for the second quarter of the 1998-1999 fiscal year. There is a net loss of $280,666 equivalent to (0.037) Basic EPS for the six-month period compared to a net profit of $1,092,280 and an EPS of 0.147 for the same period in 1997. Revenues for the period were $8,008,452 compared to $14,999,422 in 1997. The decrease in revenues is largely the result of the general downturn in the services sector of oil & gas industry. On the positive side, Hyduke's working capital is a healthy $1.9 million and our long term debt has decreased from $1,564,309 to $166,008. Our retained earnings have also increased from $1,931,127 to $2,558,053 since last year. The current scenario of low commodity prices is restricting the cash flows of exploration and production companies. Capital markets are adding to the problem by limiting their investment in this sector, which is necessary for increased drilling activity. The demand for service rigs and related equipment traditionally increases during the winter drilling season, however the extent of this level of activity is difficult to forecast because of the foregoing. Predictions for a cold winter, continued strength in gas prices, anticipated increased drilling to meet depletion rates, new gas gathering and infrastructure programs (commitments to fill the demand created by Alliance Pipeline) are positive factors which will bode well for Hyduke and the industry. John Babic, Chief Executive Officer of Hyduke Resources Ltd. commented that "With the price of oil hovering around $11/bbl, Hyduke has taken some proactive measure towards adjusting to the industry down turn. These measures include stream-lining some of our manufacturing processes and optimizing the utilization of available space. This has allowed us to lease out some of our excess manufacturing space at extremely attractive short-term rates. We have significantly downsized management overhead and have focused on new opportunities for our highly skilled welders, mechanics and electricians to develop expertise in manufacturing and repairing products in non-traditional markets. An example is the recent manufacture of six large crane pedestals for export to the United States. New management at CanWest Crane has generated significant new customers for the company and the results of these endeavors should be apparent in the third and fourth quarter." Bob Ardiel, Chief Financial Officer for Hyduke stated that "Nobody can clearly predict where oil prices will go in this next year. Oil is a commodity which is subject to the peaks and valleys of the market cycle but today, companies have learned from the past, and are able to operate profitably, even when prices are as low as $10/bbl. Hyduke's management has taken the steps necessary to see us through this downturn and we are confident that our strategies will enable us to return to profitability in the next six months of our fiscal year. Hyduke's production levels and costs have been adjusted to reflect current and expected activity levels and we continue to be well positioned to respond quickly to changes in demand for our products and services." Hyduke is proceeding with its TSE listing and expects a review early in the new year. Hyduke Resources Ltd. is an Alberta based manufacturing, sales and service company to the resource industry. Hyduke has three operating divisions that specialize in: - Service rig manufacture and repair - Oilfield sales and supply - Manufacture, repair and sales of pneumatic controls - Sales and installation of truck mounted picker cranes and winches