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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Richard Saunders who wrote (5402)	9/17/1998 3:48:00 AM
From: Kerm Yerman	Read Replies (4) of 24921

Richard Been gone for an extended time for many reasons. Must get back on track, lot of catching up to do. In general, markets are terrible. It's just one bad situation following another. I see the markets recovering only after further dips. Everyone figures we are definitely in early stages of bear market. In U.S., our economy is good - but under minor decline compared to past couple of years. Leading contributing reason is outside influences of world economy. Which brings me to oil and gas. I am still convinced the key to better pricing environment is the economics of the Far East. Further production cuts by OPEC serves only as a bandaid. Natural gas pricing will greatly depend on the realities of our coming winter. One natural sign I have seen is that Canadian geese are migrating south very early this year. I think the best method of keeping in the market is for longer term objectives -- purchasing shares in those companies that still are positioning themselves for longer term growth. Talisman still remains on top of that list for me. Someone asked me about the Arakis deal. I think that could be the steal of the year. Buckley would not have gotten involved if he felt otherwise. Production in Sudan is no longer a pipedream. Construction of the pipeline is well underway and oil will be on stream by late 1999. Everyone knows Sudan has a ton of oil and forecasts are reasonable. All parties in the joint venture can support financial requirements, a situation which plagued Arakis over the past couple of years. The only negative, and it's a big one, is the political unstableness of the country. On the domestic front, I firmly believe Genesis Exploration remains an excellent investment choice and would continue to purchase shares on a cost averaging basis. I view them in the same light as I did Berkley Petroleum a few years ago. I have cut back my coverage of companies to focus on those I feel still offer long term growth. I mentioned this in one of my last messages at the Korner before I started vacationing, got sick, had computer downtime and loss of power last week for a few days. I will be updating the action I took at that time. I have been bombarded with email messages and have attempted to answer them all over the past week. If anyone has sent me any messages which I have not replied to, please contact me once again. I apologize for my long absence, but my mind and body needed the rest. It's time to get back on track and set ourselves back in position to make some dollars. Gas dominant producers will be the route to go with focus on oil producers 9-12 months down the road. Kerm

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