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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: HAZ who wrote (3968)10/23/1997 9:18:00 PM
From: Chi-Chi  Read Replies (2) of 24931
 
HAZ,

The point you make on Opal and it's recent run is a valid comment. The stock has appreciated greatly over the last two months and may be settling at this new plateau. Based on fundamentals such as cash flow and NAV, you could argue that this stock is not presently undervalued. We selected this stock and continue to like it, however, for a couple of other reasons. The first being the fantastic growth that it has shown over the last two years. We feel that this warrants a higher cash flow multiple than would normally be the case. The second is the fact that it has strong institutional support. Nesbitt Burns has been a buyer of Opal at the $1.25 - $1.30 level, likely on the basis of it's longer term potential. Recent Nesbitt winners include companies like Amber, Genesis and Vermillion. We wish we had featured Opal earlier, but we have only been in existence for less than two months and decided on other companies which we feel were good selections. You will notice that our previous corporate profiles are companies that are probably more to your liking based on their fundamental statistics and the stage of growth they are in. We feel that there are numerous factors which can be used to value a company. It may be fair to say that our investment style is geared for solid medium term growth with the potential for bigger returns .

With regards to Draig, we will look into it and may feature it in the future.

Thanks for your comments and good investing.

ESP
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