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Gold/Mining/Energy : Neutrino Resources..Good Cash-Flow..
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To: Gulo who wrote (1)6/5/1997 11:00:00 PM
From: John Veltheer   of 45
 
Lets get this string going:

NTO is trading at a ridiculously low multiple based on earnings or cash flow. And now they have a new well and series of properties. This stock is worth at least double its current valuation

Lessard test results

Neutrino Resources Inc NTO
Shares issued 24,760,701 Jun 4 close $1.55
Thu 5 Jun 97 News Release
Mr Jeff Arsenych reports
The company has received the test results from its oil discovery at Lessard
in Northern Alberta. During February, Neutrino drilled a horizontal
re-entry of a suspended vertical Keg River Formation oil well at
13-25-123-18 W5M. This well was on confidential status to accommodate
follow-up land acquisitions which have since been completed. A production
test of 13-25 was conducted from March 4 to 7 1997. During this three day
test period the well produced at an average rate of 744 barrels per day,
which was composed of 522 barrels per day of oil and 222 barrels per day of
water and solids. The recovery of water and solids decreased over the
duration of the test to 0% of total produced fluids. Trace water was
recovered on the sample taken at the end of the test period. The production
rate at the end of the test was in excess of 900 barrels of fluid per day.
Neutrino is the operator of Lessard and holds a 65% interest before payout
and a 32.5% after payout in the 13-25 well. Four additional sections of
land were subsequently acquired surrounding the discovery at an April 1997
land sale in which Neutrino holds a 32.5% working interest. At the end of
May four additional sections in which Neutrino retained a 60.8% interest
were acquired contiguous to the play. Neutrino's total land holdings at
Lessard now stand at 5,120 gross acres and 2,343 net acres for an average
46% working interest after payout. Working interest partners in the 13-25
well are Sawtooth International Resources, Blue Springs Resources and
Struan Resources.
The 13-25 discovery well will not be placed on production until late 1997
due to winter only access. Two follow-up wells are contemplated at Lessard
during the 1997/1998 winter season. Neutrino is evaluating plans to develop
year round production operations of this pool.

JEV, long a whack of NTO warrants (which rarely carry any time premium)
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