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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Craig C who wrote (5104)5/27/1998 4:39:00 AM
From: Kerm Yerman  Read Replies (1) of 24923
 
Craig / Takeovers

Interesting point - one that I also have thought about. I think the major contributing factor behind the lack of acquisitions is that the Canadian major players already extended themselves in 1997. I would expect to see more acquisition activity among junior and intermediate companies (with minimum debt) this year.

The extent of company debt to year ending 1998 cash flows should be a major concern to investors. It worries me. If there is to be a prolonged period of low oil prices, many companies will find themselves in deep trouble.

The one company I would like to see making a favorable acquisition is Rio Alto Exploration. Their balance sheet indicates they are in position to take advantage of a good fire sale.

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