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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Obelix who wrote (6971)	11/20/1999 10:44:00 PM
From: Richard Saunders	of 24916

Obelix - NPP Newport. Q3'99 cashflow of $0.25/share & production of 23,471 boepd. 3Q report also indicated that a Wabumun well in the Chicken area of Alberta will be suspended and a new well re-drilled (3-4 MONTHS TO DRILL) adjacent to the suspended well. I believe total costs on the suspended well were about $18mil and npp has a 40% w.i. Q3'99 net debt is between $250 & $260mil.; capex for '99 has been increased from $210mil to $260mil. Bottomline, possibly a couple of reasons for laclustre drift down? One is "so-so" perceived results, company still seems to be serving some time in the penalty box for failure to produce better results. Current price is also offering some tax-motivated decisions to those with capital gains elsewhere.

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