LISTING BULLETIN / LISTING & PORTFOLIO REVISIONS
April 24,1998
TOP 20 - Sold the following shares;
100 Alberta Energy @ $34.25 = $3,425.00 (eliminated position) B@$27.90
50 Poco Petroleums @ $16.30 = $ 815.00 (retained 200 shares) B@$10.90
SPEC 20 - Sold the following Shares
200 Badger Dayligting @ $ 9.25 = $1,850.00 (retained 200 shares) B@$ 5.50
SERV 10 - Sold the following Shares
100 Computalog @ $24.00 = $2,400.00 (retained 100 shares) B@$18.00
50 Dreco Energy Serv @ $56.00 = $2,800.00 (retained 50 shares) B@$43.50
50 Enerflex Systems @ $43.25 = $2,162.50 (retained 50 shares) B@$38.25
50 Precision Drill @ $35.00 = $1,750.00 (retained 50 shares) B@$30.00
200 Prudential Steel @ $12.80 = $2,560.00 (elimanated position) B@$14.40
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Comments:
Alberta Energy reached my short term price objective and will replace
the company in my TOP 20 Listing. Share status is HOLD for longer
term.
Prudential Steel reported lower 1st quarter profits. Decided not to
ride out holding shares in the company. Will replace the company in
my SERV 10 Listing. Share status is HOLD for longer term.
All other listed transactions were for the sole purpose of profit
taking. (Window Dressing As The Funds Describe It) I am retaining
positions in the companies and therefore, they are to continue to be
listed in their respective listing categories. Share status is
ACCUMULATE on all these companies.
The reason for profit taking at this time is the softening of both
natural gas and crude oil pricing. I believe the short term outlook
is negative for the industry and therefore, share prices will react
accordingly. If I'm in error in my judgement, I can still be
satisfied with the profits. If I'm correct, I can use the generated
cash to add or increase current positions at a more opportunistic
time.
I will not be in any rush to replace the positions I eliminated.
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