Vision Energy Inc. (Nasdaq: VNRG), Houston, registered an initial public offering of 12,915,000 common shares at $12 to $14 each with the Securities and Exchange Commission. The IPO essentially involves operations of DDD Energy Inc., which Seitel Inc. (NYSE: SEI) started in 1993 to capitalize on its seismic expertise by investing directly in oil and gas properties. CIBC World Markets, A.G. Edwards & Sons Inc. and Southcoast Capital LLC are underwriters. As the offering closes, Vision Energy will acquire DDD from Seitel and continue to operate it. Seitel will retain approximately 10% of the Houston independent producer's stock after the offering, or 4% if the underwriters fully exercise their overallotment option of up to 1,137,000 additional shares. The geophysical services company also will make a $15-million cash contribution to DDD immediately before the IPO closes. Vision will use this to fund its exploration and production program and for working capital. McMoRan Exploration Co. (NYSE: MMR), New Orleans, registered with the Securities and Exchange Commission to offer $300 million of common stock, preferred stock and debt. The independent oil and gas producer and sulfur miner-marketer said that it would use proceeds from any sale of securities under the registration for general corporate purposes, including working capital, the payment or refinancing of debt, future acquisitions and / or capital expenditures. NCE Petrofund (Toronto: NCF.UN), Calgary, plans to offer up to C$25 million of trust units on a fully marketed, best efforts basis to Canadian investors. Dundee Securities Corp., Canaccord Capital Corp., Goepel McDermid Inc. and Yorkton Securities Inc. are acting as agents in connection with the offering. The royalty trust will use net proceeds of the issue to fund new acquisitions, to retire debt and for working capital. The Exploration Co. (Nasdaq: TXCO), San Antonio, raised $3 million from the private placement of equity with Swisspartners Investment Network AG. The Zurich, Switzerland, private investment firm received 1,333,333 shares of TXCO common stock at a $2.25 per-share purchase price, and warrants to purchase an additional 1,238,096 common shares at a $3 per-share exercise price within the next five years. The offering left the independent producer with 17,271,849 common shares outstanding. Tipperary Corp. (Amex: TPY) has privately placed 1,518,988 restricted common shares with two accredited, unidentified private investors at $1.58 per share for $2.4 million of cash proceeds. The Denver independent used the money to help it acquire additional interests in Australia's Comet Ridge coalbed methane project. The two investors also received warrants to acquire another 288,000 common shares at a $2 per-share exercise price. TransAtlantic Petroleum Corp. (Toronto: TNP.U), Calgary, raised US$2 million as it privately placed 10 million units at US20 cents per unit. Each unit consists of one common share and onehalf of one common share purchase warrant. Each full warrant entitles the holder to acquire an additional common share of the independent for US25 cents within one year. TransAtlantic will use net proceeds of the private placement to fund exploration on its Egyptian concessions and for general corporate purposes. Canoro Resources Ltd. (Canadian Venture: CNS), Calgary, will privately place up to 3 million units, at C$1 each, with Canadian investors on a best-efforts agency basis. Each unit will consist of one common share and onehalf share purchase warrant. One full share purchase warrant will entitle the holder to purchase an additional common share for one year from closing at a C$1.25 exercise price. The independent will use net proceeds of up to C$2.7 million to develop its oil and gas development field and exploratory block in India Liberty Oil and Gas Ltd. (Canadian Venture: LBR), Calgary, raised C$1.6 million from the private placement of 2,444,231 flow-through common shares at C65 cents per share. The independent also received a C$1.7-million increase in its line of credit with the Alberta Treasury Branches to C$7.2 million. It had drawn approximately C$4.6 million on the credit line as of Dec. 31, 1999. Proceeds from the private placement of equity and the increased credit line allowed Liberty to complete its 1999 program and put it in a position to reach its production target of 1,200 barrels of oil equivalent per day by Jan. 15, 2000.