• Husky Energy Inc., Calgary, has acquired Marathon Canada Ltd. and the western Canadian assets of Marathon International Petroleum Canada Ltd. for US$588 million. The assets, which are in Alberta and British Columbia, have proved reserves of 39.8 million BOE and produce approximately 19,500 BOE per day. Marathon Oil Corp., Houston, reports the purchase price is approximately US$8.50 per BOE of reserves. Separately, EOG Resources Inc., Houston, bought some of the Marathon assets from Husky for US$320 million, gaining production of some 7,500 BOE per day and proved reserves of 275 billion cu. ft. equivalent. • Ketch Resources Ltd., Calgary, plans to buy Gauntlet Energy Corp., Calgary, for C$44.6 million in cash. Gauntlet, which is in Canadian bankruptcy protection, sold some seismic and coalbed-methane rights for C$7.8 million recently. Proceeds of this sale are to reduce its debt, which is at least C$38 million. Gauntlet's assets are in northwest and central Alberta and produce approximately 1,650 BOE per day, 96% gas. Reserves are estimated at 3 million BOE proved and 3.68 million BOE established. Following the closing, Ketch may seek to dispose of some of Gauntlet's assets for C$15- to C$20 million. National Bank Financial Inc. is financial adviser to Ketch. • Rhodes Resources Corp. and privately held Terrapet Energy Corp., both of Calgary, plan to merge, forming publicly held Terra Energy Corp., having production of approximately 1,100 BOE per day. Terrapet produces 1,000 BOE per day in British Columbia, Alberta and Saskatchewan, and it already holds approximately 60% of Rhodes shares. Rhodes produces approximately 70 BOE per day. Terrapet's proved producing reserves are 706,000 bbl. of oil and liquids and 3.5 billion cu. ft. of gas. Total proved reserves are 742,000 bbl. and 7.3 Bcf. Probable reserves are 153,000 bbl. and 2.6 billion cu. ft. • Viracocha Energy Inc., Calgary, has acquired properties in its southern Alberta core area from an unidentified seller, gaining production of 980 BOE per day: 3.1 million cu. ft. of gas and 460 bbl. of oil. The purchase also includes interests in two oil batteries, a gas plant, gas-gathering and compression facilities, and approximately 10,700 acres of undeveloped land. • Argo Energy Ltd., Calgary, plans to acquire Advantage Energy Corp., a private company, for stock and C$15.8 million in cash. Advantage's assets produce 830 bbl. of oil per day and are in Gift/Little Horse, Alberta. Mustang Capital Partners Inc. was financial advisor to Argo. • Predator Exploration Ltd., Calgary, has acquired Cebanx Investments Inc. and its subsidiary, Donlevy Resources Ltd., for C$9 million in cash and stock. Production is approximately 350 BOE per day. The properties are in Buick Creek, British Columbia, and Hotchkiss, Judy Creek, Kaybob and Tomahawk, Alberta. In a separate transaction, Predator plans to acquire rights in the Sundre area of southern Alberta from a private company for C$200,000 and a 12.5% carried working interest on each well for C$199,920. • Privately held Berens Energy Ltd., Calgary, and publicly held Resolution Resources Ltd., Calgary, plan to merge and continue as publicly traded Berens Energy Ltd. The combined company will have a production base equivalent to Resolution's current approximately 900 BOE per day, 80% gas. It will hold approximately 60,000 net acres of undeveloped land in east-central Alberta. • 1063339 Alberta Ltd., a subsidiary of Veteran Resources Inc., Calgary, has acquired American Leduc Petroleums Ltd., Calgary, for C$7.5 million in cash and assumed debt. The acquisition adds two new Alberta core areas at Snowfall and Little Horse. Veteran's production is now approximately 550 BOE per day, 55% gas, with established reserves of approximately 1.4 million BOE, 55% gas. Veteran's undeveloped land-holdings are now more than 155,000 net acres. • Galleon Energy Inc., Calgary, plans to acquire two Saskatchewan oil properties from Venture Energy Inc., a private company, for C$3.55 million in cash. The properties are Delta in southwest Saskatchewan and Hoosier in west-central Saskatchewan and have established reserves of 597,000 bbl. of oil and a reserve-life index of nine years. Production is 180 bbl. of oil per day. • Delphi Energy Corp., Calgary, plans to acquire Fish Creek Resources Inc. for C$2.75 million in cash and stock. Assets are in Delphi's core area of east-central Alberta. Established reserves are estimated at 254,000 BOE and production is currently 160 BOE per day. Fish Creek owns the majority working interest in all wells and is the operator. • Deep Resources Ltd., Calgary, has acquired a 100% working interest in a property and a 25% working interest in a property in central Alberta from an unidentified seller for approximately C$928,000. Production is approximately 58 BOE per day, 37% gas. • LongBow Energy Corp., Calgary, and Mesa Resources Inc., Vancouver, plan to merge. LongBow's properties are in Cold Lake, Alberta, and Altares, British Columbia. Mesa's properties are in Tofield and Marten Creek, Alberta.

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