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

To: Kerm Yerman who wrote (14835)	1/15/1999 12:21:00 AM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

CORP ANOUNCEMENT / Tracer Petroleum International Set Up to Pursue Opportunities in the Islamic Republic of Iran VANCOUVER, British Columbia, Jan. 14 /PRNewswire/ -- TRACER PETROLEUM CORPORATION (Nasdaq: TCXXF; VSE: TPC) reports that further to the news release dated December 11, 1998, a new subsidiary, Tracer Petroleum International (TPI), is in the process of being incorporated in Bermuda for the purpose of pursuing oil and gas opportunities in Iran. As per an Association Agreement executed between Tracer Petroleum Corporation (Tracer) and the Mullins Group (Mullins), the initial equity in TPI is owned as to 33.34% by Tracer, and 66.66% by Mullins. The Board of Directors of TPI consists of Peter L. Holstein and William T. Mullins, both of London, England, representing Mullins, and Larry W. Youell representing Tracer. Tracer has agreed to fund up to US$100,000 of the costs incurred by TPI in identifying and negotiating the acquisition of oil and gas assets in Iran. It is the intention of TPI to acquire a majority interest in prospective petroleum assets in Iran, and then subsequently bring in a partner of partners. Also, Tracer has the exclusive option, for a period of up to 12 months, to acquire the 66.66% interest in TPI from Mullins, for consideration based upon 15% of the total Net Present Value discounted at 15% (NPV15) of the petroleum project or projects acquired in Iran, as determined from proved and probable recoverable reserves as estimated by a competent independent engineering firm. This is subject to the project or projects having a minimum NPV15 value of US$20 million; Tracer will not be required to pay any consideration for any NPV15 value beyond US$100 million. Any shares to be issued by Tracer as consideration will be subject to approval by the regulatory authorities having jurisdiction, and will have a deemed value of US$2.00 per share. William T. Mullins traveled to Iran on behalf of TPI in December, 1998, where he had several meetings with representatives of both the National Iran Oil Company (NIOC), and the government of Iran. Based upon these meetings, Mr. Mullins is confident that TPI will be offered the opportunity to investigate and negotiate the acquisition of an interest in one or more petroleum projects in Iran. Further meetings are planned during the next 30 days; additional news releases will be made as material developments occur. In other news, Tracer has received notification from the Operator of the Ogan Komering Block (OK Block) in Indonesia advising the Company that the ''carried cost obligation pool,'' which is the accumulated past costs relating to Tracer's pro-rata share of ongoing expenses of the OK Block, are liquidated in full. This has occurred in spite of record low world oil prices and will result in a marked increase in the Company's monthly net cash flow from the block. Net cash flow, based on world oil prices of some $11.40 per barrel will approximately triple from $6,832.02 received in October to $20,022.39 due for the month of November 1998. Future cash flow will be affected by the level of operations and world oil prices.

To: Kerm Yerman who wrote (14835)	1/15/1999 12:33:00 AM
From: Kerm Yerman	Respond to of 15196

CORP ANNOUNCEMENT / Curlew Lake Resources Inc. - Court Victory CURLEW LAKE RESOURCES INC. NEWS RELEASE - January 13, 1999 MAJOR COURT VICTORY ON THE CROWN JEWEL PROJECT Curlew Lake Resources Inc. announces that on January 6, 1999, a U.S. Federal District Court affirmed the decision of the U.S. Forest Service on the adequacy of the Final Environmental Impact Statement and the Record of Decision. The court granted all motions for summary judgement on behalf of the U.S. Forest Service and Battle Mountain Gold; all motions of the plaintiffs were denied. The Crown Jewel is a joint venture between the operator, Battle Mountain Gold (NY:BMG), and Crown Resource (NASDAQ:CRRS), while Curlew holds a 5% net smelter royalty (NSR) on a portion of the claims, having originally sold its claims in this project to Crown several years ago. Christopher E. Herald, President of Crown, is reported as having stated "This ruling represents a major step in the Crown Jewel project moving forward to production. The decision affirms the adequacy of the project's environmental review and the measures taken to protect the environment, and removes the uncertainty of federal environmental litigation." The Crown Jewel gold deposit contains approximately 1.6 million ounces of gold at an average grade of 0.185 ozs. gold per ton. Battle Mountain Gold is earning a 54% in the project by providing 100% of the funding to place the property into production at a minimum rate of 3,000 tons per day. Average life of mine costs are estimated at $160.00 per ounce, with average annual production rates forecast of approximately 185,000 ounces of gold. Although Curlew's NSR does not cover the existing ore body, it does cover lands to the east and west that may contain structures representing buried extensions of the primary Crown Jewel deposit. As the property moves to initial production, exploration of the surrounding area should commence, as the main deposit represents only an 8-year mine life.

To: Kerm Yerman who wrote (14835)	1/15/1999 2:32:00 AM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

KORNER REPORT / Closing Markets Toronto Stock Exchange TSE 300 COMPOSITE INDEX IS DOWN PERCENTAGE CHANGE .58% POINTS CHANGE 38.52 TSE 300 INDEX LEVEL 6593.53 TRADING VOLUME 102,096,319 VALUE $1,954,409,450.00 TRANSACTIONS 59,094 ADVANCING ISSUES 431 DECLINING ISSUES 512 UNCHANGED ISSUES 263 THE S+P/TSE 60 INDEX IS DOWN POINTS CHANGE 2.98 S+P/TSE 60 INDEX LEVEL 381.10 TSE 35 INDEX IS DOWN PERCENTAGE CHANGE .79% POINTS CHANGE 2.87 TSE 35 INDEX LEVEL 357.21 TSE 100 INDEX IS DOWN PERCENTAGE CHANGE .76% TOTAL POINTS CHANGE 3.06 TSE 100 INDEX LEVEL 402.33 2 OF THE SUB-GROUP INDICES ARE HIGHER CONSUMER PROD IS UP 77.74 OR .63% TO $12492.97 ACTIVE STOCKS ATI TECHNOLOGIES IS UP $0.90 TO $19.40 BID.COM IS DOWN $0.10 TO $ 6.75 LARGE PRICE CHANGES JDS FITEL IS UP $8.60 TO $50.60 POTASH CORP IS DOWN $6.75 TO $97.50 ---------------------------------------------------------------------- Montreal Stock Exchange Trading HEAVY Volume traded: 10.9 million shares Value traded: 170.0 million dollars Indices: XXM close -25.74 3406.82 high 3462.14 low 3386.85 ---------------------------------------------------------------------- Montreal Stock Exchange most active stocks: BOMBARDIER Cl B -0.60 20.90 BIOCHEM PHARMA -0.40 40.85 MITEL CORP. +0.10 12.75 LAIDLAW INC. -0.10 13.80 RIGEL ENERGY -0.75 9.00 ---------------------------------------------------------------------- Vancouver Stock Exchange Trading was moderate on a volume of 20.9 million shares worth 27.6 million dollars, with 116 advances, 112 declines and 271 issues unchanged. The VSE Composite Indicator closed down 0.81 at 413.89, while the VSE Mining Indicator closed down 0.42 at 306.41. Most Active Issues by Volume Volume Name Sym Close Change 1,803,200 Maracote International Resources Inc. MCE 0.88 +0.05 1,681,867 Uniglobe Travel OnLine Inc. UTO 6.35 -0.05 1,137,400 Ulysses International Resources Ltd. URI 0.20 +0.04 814,750 Infowave Wireless Messaging IWM 1.60 -0.23 508,150 Oriole Systems Inc. OOL 0.41 -0.04 ---------------------------------------------------------------------- Alberta Stock Exchange Shares Dollar Issues Traded Value Traded Advances Declines Unchanged 8,544,778 4,535,506.00 371 129 120 122 Net Top Five Dollar Value Volume Close Change Trades 450,165.00 AASTRA TECHNOLOGIES L 109,500 4.150 .150 11 438,488.00 VALU-NET CORPORATION 272,667 1.550 .050- 133 353,616.00 TELEBACKUP SYSTEMS 31,344 11.000 29 147,200.00 HIGHPOINT TELECOMMUNI 17,500 8.600 .100 5 142,864.00 ONTEX RESOURCES LTD 107,900 1.320 .050 42 Net Top Five Volume Value Close Change Trades 512,219 THE AZTERRA CORPORATI 25,611 .050 1 350,000 ICE DRILLING ENT 25,620 .075 .005 26 272,667 VALU-NET CORPORATION 438,488 1.550 .050- 133 249,643 RADAR ACQUISITIONS 127,604 .550 .100- 27 244,000 SEPIK GOLD CORPORATIO 86,040 .400 .060 7 Alberta Stock Exchange Combined Value Index: 1,829.57 Change: .86 J-JCP Total Number of Trades: 1,690 ====================================================================== NYSE Crude oil futures continued their slide on the New York Mercantile Exchange amid perceptions U.S. inventories will only get larger in coming weeks. Investors digested news that the Clinton administration had proposed to the United Nations that Iraq be allowed to sell as much oil as it can to purchase food and medicine. Under an exception to a years-long U.N. embargo following Iraq's invasion of Kuwait, Iraq currently is allowed to sell slightly more than $5.2 billion in oil every six month to buy food and medicine. Some analysts noted that Iraqi facilities currently are not capable of handling increased capacity, making the U.S. proposal moot, but market participants saw the announcement as another sign a world supply glut will not end soon. Crude fell a day earlier after the American Petroleum Institute reported inventories jumped 1 percent, or 3.1 million barrels, in the past week, surpassing expectations of a modest increase. --------------------CRUDE OIL-LIGHT SWEET--------------------- NYM - 1,000 bbl_dollars per bbl. CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Feb 99 12.32 12.54 12.10 12.15 -.16 20.79 10.75 Mar 99 12.40 12.58 12.16 12.22 -.16 20.40 11.10 Apr 99 12.61 12.67 12.27 12.32 -.16 20.79 11.35 May 99 12.75 12.80 12.40 12.46 -.16 20.79 0.01 Jun 99 12.87 12.95 12.60 12.61 -.16 20.42 11.48 Jul 99 12.97 12.97 12.77 12.77 -.14 20.40 12.20 Aug 99 13.15 13.15 12.93 12.93 -.12 20.04 12.51 Sep 99 13.28 13.30 13.08 13.08 -.11 20.33 12.76 Oct 99 13.39 13.39 13.23 13.23 -.10 20.14 12.97 Nov 99 13.53 13.56 13.39 13.39 -.09 20.60 13.17 Dec 99 13.70 13.72 13.55 13.55 -.09 20.34 13.37 Jan 00 13.88 13.88 13.69 13.69 -.09 19.88 13.57 Jun 00 14.53 14.53 14.30 14.30 -.06 20.34 14.30 Feb 02 12.32 12.32 12.32 12.32 -.24 12.56 12.32 Est. Sales 148836 -------------------------HEATING OIL------------------------- NYM - 42,000 gal_cents per gal CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Feb 99 33.90 34.70 32.70 32.77 -1.01 58.50 32.40 Mar 99 34.50 34.90 33.20 33.31 -.99 58.81 33.10 Apr 99 35.25 35.30 33.70 33.76 -.94 59.00 33.70 May 99 35.45 35.50 34.36 34.36 -.79 54.56 34.30 Jun 99 35.90 36.10 35.01 35.01 -.69 52.75 35.01 Jul 99 36.70 36.70 35.81 35.81 -.64 52.90 35.81 Aug 99 37.45 37.45 36.61 36.61 -.59 50.55 36.61 Sep 99 38.40 38.40 37.46 37.46 -.54 52.00 37.46 Oct 99 39.15 39.25 38.36 38.36 -.49 52.00 38.36 Nov 99 40.10 40.10 39.26 39.26 -.44 52.44 39.26 Dec 99 40.85 40.85 40.16 40.16 -.39 52.70 40.16 Jan 00 41.45 41.45 40.76 40.76 -.39 50.75 40.74 Feb 00 41.55 41.55 40.76 40.76 -.39 50.08 40.74 Mar 00 40.95 40.95 40.61 40.61 -.39 50.60 40.59 Apr 00 40.60 40.60 40.26 40.26 -.39 49.04 40.26 Jun 00 41.35 41.35 40.41 40.41 -.39 42.85 40.41 Est. Sales 39680 --------------------------NATURAL GAS------------------------- NYM - 10,000 mm british thermal units. CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Feb 99 1.770 1.815 1.730 1.809 +.039 2.770 1.730 Mar 99 1.800 1.840 1.758 1.832 +.033 2.600 1.758 Apr 99 1.805 1.850 1.785 1.845 +.031 2.440 1.785 May 99 1.825 1.870 1.820 1.867 +.027 2.380 1.815 Jun 99 1.860 1.895 1.846 1.892 +.022 2.380 1.840 Jul 99 1.880 1.920 1.876 1.920 +.020 2.390 1.870 Aug 99 1.900 1.940 1.900 1.940 +.020 2.390 1.900 Sep 99 1.940 1.960 1.920 1.960 +.020 2.380 1.920 Oct 99 1.975 2.010 1.975 2.010 +.020 2.415 1.970 Nov 99 2.130 2.155 2.130 2.150 +.020 2.535 2.115 Dec 99 2.269 2.305 2.260 2.300 +.020 2.680 2.213 Jan 00 2.320 2.350 2.320 2.347 +.018 2.655 2.310 Feb 00 2.250 2.280 2.250 2.272 +.016 2.545 2.240 Mar 00 2.168 2.175 2.160 2.175 +.014 2.426 2.150 Apr 00 2.095 2.107 2.090 2.107 +.012 2.320 2.075 May 00 2.080 2.083 2.080 2.083 +.012 2.300 2.057 Jun 00 2.090 2.100 2.090 2.094 +.012 2.308 2.065 Jul 00 2.105 2.109 2.105 2.109 +.012 2.320 2.083 Aug 00 2.110 2.113 2.110 2.113 +.012 2.320 2.090 Sep 00 2.115 2.116 2.115 2.116 +.012 2.321 2.100 Oct 00 2.135 2.136 2.135 2.136 +.012 2.341 2.100 Apr 01 2.149 2.149 2.141 2.141 +.012 2.315 2.135 May 01 2.134 2.134 2.126 2.126 +.012 2.305 2.114 Jun 01 2.136 2.136 2.130 2.130 +.014 2.291 2.095 Jul 01 2.137 2.137 2.134 2.134 +.017 2.291 2.095 Aug 01 2.145 2.145 2.142 2.142 +.017 2.273 2.102 Sep 01 2.152 2.152 2.149 2.149 +.017 2.220 2.132 Oct 01 2.179 2.179 2.176 2.176 +.017 2.223 2.133 Nov 01 2.319 2.319 2.316 2.316 +.017 2.379 2.271 Dec 01 2.460 2.460 2.457 2.457 +.017 2.500 2.410 Est. Sales 57723 ------------------------UNLEADED GAS-------------------------- NYM - 42,000 gal_cents per gal CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Feb 99 36.50 36.90 35.55 35.60 -.80 52.75 34.10 Mar 99 37.93 38.05 36.80 36.84 -.76 52.30 35.60 Apr 99 41.00 41.00 39.90 39.99 -.66 55.00 38.70 May 99 41.70 41.70 40.95 40.95 -.60 55.83 39.90 Nov 99 41.75 41.75 40.75 40.75 -.50 46.82 40.75 Jan 00 41.60 41.60 40.80 40.80 -.50 42.94 40.80 Est. Sales 25888 ====================================================================== Weekly Canadian Spot LPG prices - Jan 14 FOB US CTS/GALLON SARNIA EDMONTON PROPANE (spot) 24.00/24.75 15.25/15.75 BUTANE 23.75/24.25 ISOBUTANE 24.25/24.75 15.50/16.00 FIELD BUTANE 14.75/15.25 ---------------------------------------------------------------------- Canadian Spot Gas Export Prices - Jan 14 EXPORT (JAN SWING) $CDN/GJ $US/MMBTU HUNTINGDON B.C. 2.31/2.38 1.62/1.67 KINGSGATE B.C. (TO PNW) 2.25/2.32 1.58/1.63 MONCHY SASK 2.28/2.35 N 1.60/1.65 N EMERSON MAN 2.45/2.52 1.72/1.77 NIAGARA ONT 2.68/2.75 1.88/1.93 Canada/U.S. dollar conversion based on Bank of Canada rate. N=Notional ---------------------------------------------------------------------- Canadian Spot Natural Gas Domestic Prices - Jan 14 DOMESTIC (JAN SWING) $CDN/GJ $US/MMBTU ALBERTA PLANT-GATE 2.05/2.10 1.44/1.48 ALBERTA BORDER - EMPRESS 2.20/2.25 1.55/1.58 STATION 2, B.C. 2.22/2.27 1.56/1.60 SASK. PLANT-G ---------------------------------------------------------------------- U.S. Spot Natural Gas prices - January 14 JANUARY ($/mmBtu) 1/14 1/13 U.S. GULF OFFSHORE 1.64/1.69 1.74/1.79 TEXAS COAST 1.65/1.70 1.78/1.83 WESTERN TEXAS 1.65/1.70 1.76/1.81 LOUISIANA COAST 1.72/1.77 1.81/1.86 NORTHERN LOUISIANA 1.74/1.79 1.83/1.88 OKLAHOMA 1.71/1.76 1.78/1.83 APPALACHIA 1.86/1.91 1.94/1.99 SO. CALIFORNIA BORDER 1.79/1.84 1.90/1.95 HENRY HUB 1.76/1.78 1.85/1.89 WAHA HUB 1.68/1.73 1.79/1.84 ---------------------------------------------------------------------- Shell Canada Lowers Light Oil Prices COMPANY EFF DATE LT SWEET LT SOUR CDLR/BBL CDLR/M3 CDLR/BBL CDLR/M3 IMPERIAL OIL 01/13/98 17.81 112.00 17.33 109.00 SHELL CANADA 01/13/98 17.49 110.00 16.85 106.00 SUNCOR* 01/13/98 18.28 115.00 16.85 106.00 PETRO-CANADA 01/13/98 17.65 111.00 17.01 107.00 KOCH OIL 01/13/98 17.65 111.00 17.01 107.00 Light sweet marker crude at Edmonton/Swan Hills......40 API, 0.3 pct sulphur Light sour at Cromer, Man....33 API, 1.1 pct sulphur Suncor light sour...........35 API, 1.2 pct sulphur ---------------------------------------------------------------------- Shell Canada Heavy Oil Prices COMPANY EFF DATE BOW RIVER HARDISTY MEDIUM, (CDLR/M3) BLEND MEDIUM* CROMER IMPERIAL 01/13/98 92.00 -- 99.00 SHELL CANADA 01/13/98 -- 93.00 96.00 SUNCOR 01/13/98 -- -- 96.00 PETRO-CANADA 01/13/98 -- 91.00* -- KOCH OIL 01/13/98 89.00 93.00 97.00 Bow River Blend, Hardisty.....Stream Quality Hardisty Medium...............29.3 API, 1.6 pct sulphur *Petro-Can Hardisty Medium....25.7 API, 2.1 pct sulphur Medium at Cromer, Man.........29.3 API, 2.0 pct sulphur ----------------------------------------------------------------------