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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: kingfisher who wrote (5762)	12/21/1998 11:36:00 PM
From: dumbo	of 24923

You asked for a bottom fish candidate. You can't get more cod-like than Justinian Exploration (Jel) on the Alberta exchange. At $10 oil this company hasn't got much going for it- hence the price of $.06 per share. However, the tax losses alone inside the company are probably worth .03 to.05 per share to someone else. So, if oil stays at $10 per barrel the downside is a cent or two and someone is likely to take them over. The upside comes from a producing oil property in Argentina that they own that needs some modern completion techniques applied to it. This could be a $.5 stock with a stronger oil price over the next 12 months.

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