INSIDER TRADING — Canadian States directors active

Two senior officers and directors of Canadian States Oil and Gas (CDN) were trading shares of the company in the open market during July and August.

According to the Ontario Securities Commission’s OSC Bulletin, Robert Salna, director and senior officer, bought 95,800 shares at $2-$7.38 and exercised options to acquire another 200,000 shares at 25 cents. During the period, he sold 264,607 shares at $2.10-$7.63 to hold 124,529 shares. Stephen Shefsky, director, exercised warrants and acquired 200,000 shares at 25 cents and sold 284,300 shares at $3-$9 to hold 700 shares and 200,000 warrants. Among other insider transactions reported during the 2-month period were: * Franco-Nevada Mining (TSE) — Craig Hasse, director and senior officer, was granted 15,000 options at $74.75 to hold 63,000 options.

* Int’l Curator Res. (TSE) — James Tocher, director and senior officer, sold 500,000 shares at $7.75 to hold 828,929 shares.

* Loki Gold (TSE) — Robert Evans, senior officer, exercised options and acquired 25,000 shares at 79 cents and later sold 25,000 shares at $2.17-$2.24 to hold no shares and 50,000 options.

* Pentland Firth Ventures (TSE) — Kinross Gold, a corporation that owns more than 10% of the company, sold 500,000 shares at $1.10 to hold 4.8 million shares.

* Rea Gold (TSE) — Clifford Grandison, director, sold 10,000 shares at $3.35 to hold 500 shares. Robert Heim, director, sold 10,000 shares at $3.30 to hold 10,000 shares. Fred Koch, senior officer, filed an initial statement indicating he held 75,000 options. James O’Rourke, a senior officer who owns more than 10% of the company, exercised options and acquired 75,000 shares at 32 cents. He later sold 75,000 shares at $3.23 to hold 608,750 shares and 50,000 options.

* Southern Era Resources (TSE) — Christopher Jennings, senior officer, bought 7,200 shares at $4.10-$4.50 to hold 1.3 million shares.

* Teck (TSE) — George Stevens, senior officer, exercised options and acquired 20,000 class B shares at $17.13 and sold 20,000 shares at $28.50 to hold 1,000 shares and 55,400 options.

* Thunderwood Resources (TSE) — John Heslop, senior officer and director, exercised options and acquired 55,556 shares at 30 cents to hold 113,804 shares. Heslop was also granted 166,667 options at 30 cents to hold 606,667 options.