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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Barron Von Hymen who wrote (4602)2/2/1998 8:26:00 AM
From: HAZ   of 24939
 
Baron / All / Oil Prices and projections

The Oil & Gas market right now is going through a consolidation stage and money is moving from weak companies to strong ones, witness the recent strong moves with Alberta Energy, reserves additions = 360 % of production, 17 years reserve life, finding & developing costs going down rather than the expected rise, etc..

Stocks that can use the drill bit and use it wisely will outperform the laggards, companies that wanted to grow at any cost to shore up their cashflow multiples and stock prices gains, thereby giving their executives nice bonuses.

As I said in previous posts natural gas is the place you wonna be and I'm more convinced now after AEC reporting their 1997 operating results and 1998 direction. These guys know the O&G business and they will make allot of money with their Natgas business.

Oil will trade up & down based on news articles about war with Iraq, supply demand fundamentals, OPEC over production cheating, etc.. but the good companies will always be around because they can grow the business and make money in all market conditions.

I wouldn't sell my winners just because the threat of war with Iraq is waning, maybe this is a good time to sell the over zealous ones though.

Cheers and good investing
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