WESTCOAST &lt;WTC> TO ACQUIRE AGIP PROPERTIES
  Westcoast
  Transmission Co Ltd said it agreed to acquire the Western
  Canada oil and gas reserves and properties of AGIP Canada Ltd,
  a subsidiary of AGIP SpA, part of Italy's ENI group, for 54 mln
  Canadian dlrs.
      At the end of 1986, AGIP Canada reported proven and
  probable reserves of 4.2 mln barrels of crude oil and natural
  gas liquids and 22.7 billion cubic feet of natural gas. AGIP
  Canada also holds 176,000 net exploratory acres in Western
  Canada. Its properties produce about 1,100 barrels of oil a
  day.
      The deal is subject to approval by both companies'
  directors.
      Westcoast said the acquisition would enable it to apply
  more than 150 mln dlrs of accumulated tax pools of AGIP Canada
  Ltd to enhance after-tax cash flow from the acquired
  properties.
      AGIP Canada said it would retain offshore exploration
  blocks in Labrador, a gold mine in Yukon Territory and uranium
  interests in Saskatchewan.
  

