PACIFIC RANGER PETROLEUM (PAI.a) Message Board

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Gold/Mining/Energy : PACIFIC RANGER PETROLEUM (PAI.a)

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To: Baywall who wrote (4)	9/4/1998 1:44:00 PM
From: Baywall	Read Replies (1) of 6

I viewed the financial statements up to the third quarter. Only 9 months are covered and this firm is just starting out. Also the oil services industry is still waiting for an increase in oil activity spurred by higher oil prices. COMPACT postponed their expansion of Edmonton facilities probably in light of the industry slowdown. There was no cash account in Q3, hopefully this will be remedied. Revenues are up but profits are in a steady decline. $57,541 $44,636 $13,902 Percentage earned on net worth may seem low to some, being less than 10%, but can change quickly with a young firm. Negative cash flow was registered in Q3. No concern unless this pattern continues. For a young firm this may just be a temporary adjustment, but will keep watch in upcoming 4Q financial statements. Unfortunately, I don't have access to industry ratios for more meaningful comparisons. For those who want solid f/s, it is a bit early, but for those who believe Mr. Stewart can increase revenues and profit growth above industry ratios maybe now is the time to purchase. Coupled with an upturn in the oil services industry this firm may have good potential. LVL

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