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

To: Kerm Yerman who wrote (14777)	1/12/1999 9:19:00 PM
From: Kerm Yerman	Respond to of 15196

JCP - MAJOR TRANSACTION / AltaCanada Concludes Major Transaction CALGARY, Jan. 12 /CNW/ - AltaCanada Energy Corp. (''AltaCanada''), a junior capital pool corporation listed on The Alberta Stock Exchange under the trading symbol ''ANG'', announces completion of the acquisition of all of the issued and outstanding securities of 774781 Alberta Ltd. (''Drillco'') consisting of the acquisition of Class A shares, debentures and warrants of Drillco (''Drillco Units'') in exchange for common shares, flow through shares and warrants of AltaCanada. Drillco privately placed Drillco Units pursuant to an offering memorandum dated November 11, 1998. Total proceeds raised were $645,250 which was used by AltaCanada to reduce indebtedness incurred in the acquisition of selected oil and natural gas properties in East-Central Alberta for a consideration of $1,752,000, which was closed on December 1, 1998.

To: Kerm Yerman who wrote (14777)	1/12/1999 9:24:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANOUNCEMENT / Cantex Energy, Inc. Appoints oil Consultant CANTEX ENERGY, INC. ANNOUNCES APPOINTMENT TORONTO, ONTARIO-- Cantex Energy, Inc. ("Cantex" CTXE-CDN) is pleased to announce the appointment of Mr. J. Paul Jennings as its oil and gas consultant. Mr. Jennings received his Bachelors of Science Degree in Petroleum Geology from the University of Oklahoma in 1950. He is a Certified Petroleum Geologist, past president of the Mid-Continent Section of the American Association of Petroleum Geologists, past president of the Kansas Geological Society, and past president of the Kansas Independent Oil and Gas Association, as well as a former Director and member of the Executive Committee of the Independent Petroleum Association of America. Mr. Jennings is also a member of several other professional organizations. Mr. Jennings' almost 50 years of varied experience within the industry will be an important factor in assisting Cantex's management. His extensive network of professional and industry associates will help Cantex identify and select successful exploration and acquisition companies to provide Cantex with attractive investment opportunities. He has worked as an exploration geologist/geophysicist and has been extensively involved in management operating exploration and acquisition activities in a number of geological provinces. As Vice-President and Manager of Oil and Gas operations for a publicly owned independent oil and gas company from 1968-1972, Jennings was responsible for oil and gas operations in fifteen (15) states with combined budgets exceeding U.S. $120 million. This responsibility included supervision of the geological, geophysical, land, acquisition, engineering and production departments. From 1972 - 1992, Mr. Jennings was President, Chairman, CEO and principal shareholder of K & E Petroleum, Inc., a privately owned independent exploration, production and acquisition company headquartered in Wichita, Kansas. During this time, K & E conducted successful oil and gas operations in several states while earning a reputation at the same time for the highest standards of business behavior and ethics. We take great pleasure in welcoming Mr. Jennings to the Cantex team.

To: Kerm Yerman who wrote (14777)	1/12/1999 9:25:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANOUNCEMENT / BlackRock Ventures Inc. Agreement BLACKROCK ANNOUNCES AGREEMENT WITH VICEROY TORONTO, ONTARIO-- BlackRock Ventures Inc. (TSE:BVI) announced that it has entered into a lock-up agreement with Viceroy Resource Corporation (TSE:VOY) in connection with its undertaking to vote its 25.4% voting interest in Rayrock Resources Inc. (TSE:RAY) in favor of Viceroy's proposal to acquire all of Rayrock's issued and outstanding shares. Under the terms of their proposal, to be effected by a statutory Plan of Arrangement, Viceroy is offering $2.50 in cash, plus 1.9 Viceroy shares and 1.22 BlackRock shares, for each share of Rayrock. In addition, subject to regulatory and shareholder approval, BlackRock has agreed to receive the shares of Magin Energy Inc. (TSE:MGY) currently held by Rayrock in lieu of a portion of the Viceroy shares which would otherwise be issuable to BlackRock. C. Bruce Burton, President and CFO of BlackRock, stated, "Magin is a company with which we are very familiar and in whose management team we have great confidence. Our intention will be to hold these shares for investment purposes." Upon successful completion of the transaction, BlackRock will receive approximately $9.4 million in cash, 3.3 million shares of Magin (representing a 10.8% interest), 3.1 million shares of Viceroy (representing a 3.3% pro forma interest), and 4.6 million of its own shares (representing an 8.5% interest). These BlackRock shares will be canceled, reducing, on a pro forma basis, the issued and outstanding shares of the Company to 49,288,433 shares. Cameron O. Smith, Chairman of BlackRock, commenting on these events, said, "The arrangements with Viceroy accomplish three of the Company's major objectives. First, it provides BlackRock with cash to expand its business plan to take advantage of current conditions in the heavy oil business. Second, it concentrates more oil and gas interests in BlackRock, and finally, it eliminates the cross-shareholdings between BlackRock and Rayrock. As a result, value for the BlackRock shareholder should certainly be enhanced."

To: Kerm Yerman who wrote (14777)	1/12/1999 9:28:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Commonwealth Energy Corp Agreement PROVEN INNOVATIVE GEOLOGIC TECHNOLOGY GIVES COMMONWEALTH A SIGNIFICANT EDGE IN ITS EXPLORATION PROGRAM CALGARY, ALBERTA-- Commonwealth Energy Corp. ("the Company") is pleased to announce their agreement with Electro-Seise Inc. (ESI) of Fort Worth, Texas to employ their proprietary 3-D gravity/E geological survey technology on all the company's oil and gas prospects. The ESI system is a culmination of 27 years of research and development in passive geophysical surveys by the company's founder, Richard G. Talbert. The technology offers significant advantages over conventional 3-D seismic systems. The system not only detects subsurface anomalies, but also detects the presence of hydrocarbons in any geologic province or formation. In addition, the system is 5 times faster, costs a fraction of the amount of other 3-D seismic surveys, and can often differentiate between oil and gas deposits. The system has also proven equally effective in surveying previously unexplored areas or in testing and verifying other geological surveys. The company's decision to enter into an agreement to secure a 5-year exclusive use of the technology in Wyoming's Powder River Basin was based on ESI's successful track record. In the past two years, ESI's success rate was 87% and out of the last ten wells they have surveyed, all ten wells (100%) were successful completions. Also contributing to the Company's decision was ESI's successful identification of Commonwealth's Camp Colorado hydrocarbon deposit. The ESI system not only identified the structure, but also accurately detailed each potential hydrocarbon bearing zone. Management is confident that utilization of this technology will lead to the identification of many highly qualified hydrocarbon deposits at a fraction of past costs.

To: Kerm Yerman who wrote (14777)	1/12/1999 9:30:00 PM
From: Kerm Yerman	Respond to of 15196

ACQUISITIONS - MERGERS / New Cache Petroleums Ltd. Announces Acquisition of New Cache Petroleums Ltd. by Canadian Abraxas Petroleum Limited CALGARY, Jan. 12 /CNW/ - In connection with the offer dated November 24, 1998 (the ''Offer''), as extended by Canadian Abraxas Petroleum Limited (''Canaxas'') to acquire all of the issued and outstanding common shares and associated rights of New Cache Petroleums Ltd. (''New Cache''), Canaxas announced that on January 5, 1999, approximately 14,026,467 common shares and associated rights, being approximately 98.8% of the issued and outstanding common shares and associated rights of New Cache, on a fully diluted basis (excluding the 1,222,353 options to acquire common shares of New Cache held by optionholders who have agreed to cancel their options pursuant to agreements between such optionholders and New Cache), were deposited prior to the expiration of the Offer and that all of the conditions of the Offer have been satisfied. Canaxas further announced that, on January 11, 1999, it had taken up and paid for all of the common shares and associated rights of New Cache validly deposited as at that date and that, upon such taking up and payment, all options to acquire common shares of New Cache were cancelled. On January 12, 1999, Canaxas acquired the remaining 1.2% of the issued and outstanding common shares and associated rights of New Cache not deposited in acceptance of the Offer pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta) and that Canaxas now holds 100 percent of the issued and outstanding common shares and associated rights of New Cache on a fully diluted basis.

To: Kerm Yerman who wrote (14777)	1/12/1999 9:31:00 PM
From: Kerm Yerman	Read Replies (6) \| Respond to of 15196

FINANCING / Tanganyika Oil Announces Completion Of Private Placement Of Units VANCOUVER, BRITISH COLUMBIA--Tanganyika Oil Company Ltd. (the "Company") announces that it has completed a private placement of 500,000 units in the capital stock of the Company at a price of $0.75 Cdn. per unit, for gross proceeds of $375,000 Cdn. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holders thereof to purchase an additional one common share in the capital stock of the Company at any time over a two year period, at a price of CDN$0.75 per share, if exercised during the first year or, at a price of CDN$0.87 per share, if exercised during the second year. The Company has received regulatory acceptance of the private placement and the units have now been issued to the investors.