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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (472)10/17/1996 1:59:00 AM
From: Dave Fong   of 24925
 
Hello Kerm, I called Northstar Energy today and had a very good talk with A. Beattie from public relations. She told me that the third quarter results will be coming out very soon. She stated they are not just a natural gas company anymore, the profits come equally from both natural gas and oil. She quoted results from their second quarter reports. Which at that time was 132.6 mmcf/d and 12,000 b/d produced. Also the proven reserves as of dec'31'95 was 213 bcf and 16.9 mmbbls. Their net back on oil in the second quater of this year is $14.72 per barrel and $0.94 mcf for natural gas. Their goal is to focus on core areas and buy properties in strategic areas surrounding their own. She also stated that they have been able to increase production in their core holdings each year . The example used was the Turin property in southern Alberta that has increased the last 5 yrs. Dave
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