BURNING THE MIDNIGHT OIL: DO-OR-DIE TIME FOR OILERS GROUP

          A group of local Edmonton investors are "expected to
     proceed today" with a US$70M offer to purchase the NHL
     Oilers, according to Jac MacDonald of the EDMONTON JOURNAL. 
     Investor Jim Hole: "The only news that will surprise you
     tomorrow is if we are not in."  Despite the "continued pleas
     for new partners," Hole said "money will not be a problem":
     "We'll have all we need when we need it."  MacDonald reports
     that the group reached the C$50M mark yesterday with the
     addition of five anonymous local business execs, but still
     appear short of the C$60M needed to qualify for an
     additional C$50M in bank financing.  Group spokesperson Cal
     Nichols said, however, that he "expects there will be some
     movement within the investors' group to increase the equity"
     to C$60M (EDMONTON JOURNAL, 3/13).  In Houston, Neil
     Hohlfeld reports a source said that "unless the big players
     in the group develop cold feet," a deposit will be made by
     today's deadline (Neil Hohlfeld, HOUSTON CHRONICLE, 3/13).