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

To: Kerm Yerman who wrote (15122)	2/3/1999 9:14:00 PM
From: Kerm Yerman	Respond to of 15196

PROPERTY ACQUISITION / Bow Valley Acquires Additional Acreage in Southern England CALGARY, Feb. 3 /CNW/ - Bow Valley Energy Ltd. is pleased to announce that its wholly owned subsidiary, Bow Valley Petroleum (UK) Limited, has completed purchases of equity in the PL090 onshore block. PL090 is located in the Wessex Basin of southern England between PEDL048 (a 60,000 acre block awarded to Bow Valley and its partners as part of the U K Eighth Landward Licencing Round) and Wytch Farm, Europe's largest onshore oilfield. Bow Valley has agreed (subject to approval by the UK Department of Trade and Industry) to an assignment of equity to its Eighth Round partners, Sterling Resources (UK) Ltd. and Egdon Resources (UK) Limited. Bow Valley is the operator with a 41.66% equity interest. Yates Company (UK) retains its 16.67% interest from the original partnership grouping. Strategically, the acquisition enhances Bow Valley's position along the Central Wessex High - a structural feature which extends westward from Wytch Farm through PL090 and PEDL048. The Central Wessex High remained stable and was the focus for oil migration which predated the late Tertiary inversion that affected the Wessex Basin. Considerable potential remains within this relatively under-explored trend. The group plans to reprocess existing data on the block to further evaluate several exploration leads including the potential for drilling a structurally higher location offsetting the Waddock Cross Bridport Sandstone discovery made in 1982 by the Gas Council (Exploration) Ltd. Bow Valley was formed in 1996 to operate as an international oil and gas acquisition, development and production company headquartered in Calgary, Alberta. Bow Valley has interests in the United Kingdom (both onshore and offshore), has signed a service contract to develop the Balal oilfield located offshore Iran in the Persian Gulf and is a participant in three exploration blocks in France. Bow Valley trades on the Toronto Stock Exchange under the symbol BVX.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:17:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Veritas DGC Inc. Earnings Announcement VERITAS DGC INC. SETS AN EARNINGS RELEASE DATE FOR ITS FISCAL YEAR 1999 SECOND QUARTER ENDED JANUARY 31, 1999 HOUSTON, TEXAS-- Veritas DGC Inc. (the "Company") announced today that it will release its financial and operating results for its fiscal year 1999 second quarter ended January 31, 1999 on Tuesday, March 2, 1999, after the market closes. The Company will have its customary conference call the following day, Wednesday, March 3, 1999 at 11:00 a.m. EST to discuss the results. The call will be hosted by Rene VandenBrand, Vice President of Business Development and Tony Tripodo, Executive Vice President, Chief Financial Officer and Treasurer. Following a brief presentation by the Company, participants will have the opportunity to ask questions. The dial-in number to participate in the conference call is 1-800-683-1535. Should you have difficulty with the aforementioned "800" number, phone 1-973-628-6885 to be connected toll free. A digital replay will be available at the conclusion of the call until the close of business Wednesday, March 10, 1999. Interested persons can phone 1-888-298-2157 or 1-402-220-9159. Veritas DGC Inc. (NYSE &TSE: VTS) is a leading provider of land, transition zone and marine-based seismic data acquisition, seismic data processing, and multi-client data sales to the petroleum industry. Veritas operates seven divisions in selected markets worldwide and, based on revenue, is the fifth-largest geophysical services provider.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:21:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / K2 Energy Offering CALGARY, Feb. 3 /CNW/ - K2 Energy Corp. (the ''Corporation'') (TSE: KTO) announces that it has entered into a letter agreement with Brawley Cathers Limited of Toronto involving the proposed sale, on a ''best efforts'' basis, of 800,000 units at a price of $0.56 per unit for gross proceeds of $448,000. Each unit consists of one common share of the Corporation and one-half of one common share purchase warrant. Each full common share purchase warrant entitles the holder to purchase one common share of the Corporation at a price of $0.75 per share for a period of six months from the date of closing after which time the warrant will expire. The proceeds from the issue will be used to fund the Corporation's ongoing working capital requirements. K2 also announces that the lease permitting phase of the 115 mile 2-D seismic program on the Central Block of the Corporation's land holdings on the Blackfeet Indian Reservation in Montana has been completed and seismic shooting is expected to commence on February 4, 1999. Following interpretation of the new seismic data, the Corporation, in conjunction with its joint venture partner, Miller Exploration Company, plans to drill three exploration wells on the Block. Drilling is expected to commence in May 1999. K2 is continuing discussions with its financial advisors in evaluating alternatives with respect to the Corporation's ongoing capital requirements for its exploration activities in Montana, including a possible rights offering to existing shareholders.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:23:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANNOUNCEMENT / Lexxor Restructures Management and Board CALGARY, Feb. 3 /CNW/ - LEXXOR ENERGY INC. has announced changes to its senior management team and board of directors effective February 1, 1999. J. Gordon Ironside has been appointed chairman and chief executive officer, Douglas O. McNichol has been appointed president and chief operating officer and Ronald R. Talbot, formerly president and chief executive officer, has been appointed vice-president, exploration. J. Paul Lawrence continues his role as vice president, finance and chief financial officer. Mr. Ironside and Mr. McNichol were previously senior executives with Blue Range Resource Corporation. Lexxor has added John A. Niedermaier to its board of directors. Mr. Niedermaier brings a wealth of experience in the energy sector and serves as a director on a number of boards in the industry. Douglas O. McNichol, new president of Lexxor also joins the board, replacing J. Paul Lawrence who has resigned from the board. Continuing board members include J. Gordon Ironside, appointed chairman, Ronald J. Will, Michael P. Stanton and Ronald R. Talbot. After raising $1.1 million in two previously announced transactions in late December, Lexxor is continuing its active drilling program targeting gas prospects in northern Alberta this winter and in the Plains Gas Project Area this spring and summer.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:26:00 PM
From: Kerm Yerman	Respond to of 15196

CORP REPORT / Prism Petroleum Ltd. Reports 1998 Production Results PRISM PETROLEUM LTD. ANNOUNCES RECORD OPERATING RESULTS CALGARY, ALBERTA-- Prism Petroleum Ltd. ("Prism") is pleased to announce record operating results for the year ended December 31, 1998. Production rates for the year averaged 572 barrel equivalents per day, a 30 percent increase over the previous year. Natural gas sales of 4.1 MMCFD accounted for 72 percent of 1998 production volumes. Prism recently finalized an agreement to acquire a 2.5 percent interest in three onshore exploration blocks in Cuba from Genoil Inc. Two wells will be drilled on the 5,300,000 acre holdings in the first half of 1999, with the first well having spudded on February 3, 1999.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:27:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 15196

CORP ANNOUNCEMENT / Remington Energy Issues Update CALGARY, Feb. 3 /CNW/ - At the request of the Toronto Stock Exchange, in light of recent trading patterns for its common shares, Remington Energy Ltd. advises that it is in receipt of a number of proposals from interested parties in respect to possible transactions with Remington. These proposals are currently being reviewed by Remington with its financial advisor and it is conducting negotiations with respect to one or more of such proposals. On December 15, 1998, Remington announced that it had retained the services of FirstEnergy Capital Corp. to advise it with respect to strategic alternatives to enhance shareholder value.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:29:00 PM
From: Kerm Yerman	Respond to of 15196

CORP ANNOUNCEMENT / Calibre Energy Inc. Needs Restructuring Plan CALGARY, Feb. 3 /CNW/ - The Board of Directors of Calibre Energy Inc. (''Calibre'') (CBW) announced that the Company and its wholly owned subsidiary, Trego Energy Inc. (''Trego'') today obtained an Order pursuant to the Companies' Creditors Arrangement Act. The Order provides Calibre and Trego a 30-day period during which they may present a restructuring plan to their creditors. The companies are working with their major lenders in developing a Plan which will be presented to creditors as soon as possible.

To: Kerm Yerman who wrote (15122)	2/3/1999 9:31:00 PM
From: Kerm Yerman	Read Replies (4) \| Respond to of 15196

FINANCING / Solana Petroleum Completes Private Placement Agreement CALGARY, Feb. 3 /CNW/ - Solana Petroleum Corp. announces it has signed an agreement with StephenAvenue Securities Inc. for a ''best efforts'' private placement of up to 2,000,000 units at a price of $0.50 per unit for gross proceeds of $1,000,000. Each unit consists of one common share and one-half common share purchase warrant. One whole warrant entitles the holder to purchase a common share at an exercise price of $0.75 on or before May 31, 1999. StephenAvenue Securities will receive a commission of 7 percent of the gross proceeds and an option to acquire the number of units equal to 5 percent of the units sold pursuant to the private placement. James B. Taylor, Solana chairman, said the private placement will provide additional operating funds for the Company to proceed with its partners in further exploration in the Llanos Basin of northeastern Colombia where they hold association contracts with Ecopetrol, Colombia's state-owned oil company. Testing is underway on the Company's initial exploration well, the Mateguafa No. 1, drilled last year in the Tapir Block of the Llanos Basin which, based on log analysis, encountered at least four zones potentially capable of oil production. Mobilization of the rig for testing was delayed due to an unusually long rainy season. The Company said preliminary test results are expected in approximately 30 days. Mr. Taylor stated that plans are being finalized to drill a second exploration well in another area of the Tapir Block. The well site is currently being prepared and drilling is expected to commence later this month. Solana Petroleum is a Calgary-based international oil and gas exploration company currently focusing on its interests in Colombia. The Company's common shares are listed on the Alberta Stock Exchange and trade under the symbol SOP.