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

To: Kerm Yerman who wrote (14968)	1/21/1999 8:47:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Stellarton Energy Announces Purchase of Cummings Oil Tools CALGARY, Jan. 21 /CNW/ - Stellarton Energy Corporation (TSE:SRT.A) is pleased to announce that it has purchased the business and assets of Cummings Oil Tools for 526,316 Stellarton shares for a total consideration of approximately $1.0 million. An additional cash amount of approximately $600,000 for inventory and other working capital items was also paid on closing. The transaction is effective January 1, 1999 and has been done through Stellarton's SECURE OIL TOOLS division based in Edmonton, which provides oil and gas tool products to customers in Canada and around the world. Cummings Oil Tools, a Red Deer-based private company, was founded in 1993 by Wayne Cummings who remains the owner and manager. Cummings Oil Tools is debt free and Mr. Cummings has built a successful, profitable company with quality tool products and strong service. Secure is pleased that Mr. Cummings has agreed to join SECURE as the manager of SECURE's tool operations and will be responsible for developing and enhancing the tool product line within the company. Cummings' customers will see no change in the operations or service of Cummings Oil Tools. Cummings will continue to operate in the same fashion with the added strength of the broad Secure Oil Tools line of conventional and specialized oil field tools. SECURE plans to build on Cummings' success with a broader, enhanced product line that will allow SECURE to expand its market in Canada for conventional production tools such as packers and other downhole tools along with related service. The combined tool operation is expected to generate immediate cash flow and earnings that are accretive on a per share basis for Stellarton. This acquisition also provides SECURE with additional manpower and field support necessary to sell and install MeshRite(TM). MeshRite(TM) sales continue to increase both domestically and in select international markets where we have focused our sales efforts for this leading sand screen technology. SECURE Oil Tools invents, designs, manufactures and markets a variety of specialized olifield equipment that enhance well performance and economically improve the recovery of oil and gas reserves. Stellarton Energy Corporation is a company with distinct yet synergistic divisions involved in oil and gas exploitation and production, and oil field tool and equipment manufacturing and sales.

To: Kerm Yerman who wrote (14968)	1/21/1999 8:52:00 PM
From: Kerm Yerman	Read Replies (3) \| Respond to of 15196

ENERGY TRUSTS / Pengrowth Corporation/Pengrowth Energy Trust Announces Extra Distribution on February 15, 1999 CALGARY, Jan. 21 /CNW/ - Pengrowth Corporation (''Pengrowth''), administrator of Pengrowth Energy Trust (''EnergyTrust''), announced that the cash distribution payable February 15, 1999 will total $0.13 per trust unit, comprised of the regular monthly distribution of $0.11 per trust unit, and an extra distribution of $0.02 per trust unit. The ex-distribution date for the February 15, 1999 cash distribution is January 28, 1999. The extra distribution of $0.02 per trust unit includes distributable income earned to December 31, 1998 according to preliminary unaudited financial estimates. The trailing one-year cash distributions are now $1.525 per trust unit. Pengrowth is also pleased to report that over 1,000 barrels per day of incremental oil are currently being produced from two Judy Creek horizontal injector well patterns at 5-33-63-10 W5 and 15-33-63-10 W5. Henry McKinnon, General Manager, Operations reports that ''Response from the horizontal miscible flood program continues to provide positive results. We believe that we are currently sweeping new portions of the reservoir not previously contacted by the vertical flood program. Incremental oil recovery is expected to continue to increase, however more production history will be required before the full extent and duration of the response is known''.