DRA - DRAIG ENERGY LTD Message Board

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Gold/Mining/Energy : DRA - DRAIG ENERGY LTD

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To: kingfisher who wrote (12)	5/26/2000 9:54:00 PM
From: David Michaud	Read Replies (1) of 15

Sprott is putting out much different numbers then CanStock. ...shorts really gotta hate that upward movement... Total Assets $37,423,000 Current Liabilities $8,460,000 Long-Term Debt $14,500,000 As at December 31, 1999, the company had tax-loss carryforwards of approximately $27.7 million which are available to reduce future taxes payable. Management conservatively projects that Draig will generate cash flow of $10.4 million or $0.89 per share and earnings of $3.6 million or $0.31 per share during 2000. This estimate is based on an average natural gas price of $2.91 per mcf and an average oil price of US$21.75 per barrel. Draig's long-term plan calls for production of 5,000 boepd by 2002. At the end of 1999, the company's net asset value was estimated to be $58.4 million or $4.69 per share ($4.11 fully-diluted) using a 15% discount factor. Their always is other opportunities...

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