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PRAIRIE PACIFIC ENERGY CORP. ACQUIRES INSPAN SHARES

 VANCOUVER, British Columbia, Dec. 31 /PRNewswire/ -- Prairie Pacific Energy Corp. ("Prairie Pacific") (NASDAQ: PRPEF; Alberta: PRP) of Vancouver, reports that it has acquired privately 2,492,000 common shares of Inspan Investments Ltd. ("Inspan") (Alberta: INY).
 After giving effect to this acquisition, Prairie Pacific beneficially owns, directly or indirectly, 7,292,500 common shares (85 percent) of Inspan, and a $150,000 convertible debenture of Inspan entitling it to acquire an aggregate of 750,000 common shares of Inspan. Prairie Pacific has acquired the shares of Inspan for investment purposes. Prairie Pacific does not intend to acquire any additional shares of Inspan.
 The 2,492,000 common shares acquired by Prairie Pacific were common shares issued pursuant to the exercise of stock options today by Malcolm F.W. Todd (830,666 common shares), Robert H.O. Todd (830,666 common shares), R. Campbell Todd (415,334 common shares) and Murray K. Scalf (415,334 common shares). Each of Malcolm F.W. Todd, Robert H.O. Todd, R. Campbell Todd and Murray K. Scalf has no intention of acquiring any additional shares of Inspan.
 Except as aforesaid, no person or company has acted jointly or in concert with any of Prairie Pacific Energy Corp., Malcolm F.W. Todd, Robert H.O. Todd, R. Campbell Todd or Murray K. Scalf in connection with the foregoing.
 The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
 -0- 12/31/93
 /CONTACT: Malcolm F.W. Todd, VP, 604-684-2356/
 (PRPEF PRP. INY.)


CO: Prairie Pacific Energy Corp., Inspan Investments Ltd. ST: British Columbia IN: OIL SU: TNM

JM-MF -- LA009 -- 8314 12/31/93 13:21 EST
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Publication:PR Newswire
Date:Dec 31, 1993
Words:274
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