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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Yarek Szolomicki who wrote (7446)	8/4/2000 10:47:00 AM
From: Richard Saunders	of 24939

Ya' but yarek - comparison Founders vs. Scimitar The numbers you linked do paint a picture however possibly the comparison is harder to make? Founders operates primarily in Sask. (Lloyminister area (heavy oil) is one main area) and Alberta. Founders rolled back shares 4:1 and now have somewhere around 15mil+ o/s Scimitar also plays with some heavy stuff however most of their production is in Egypt. I believe there are also upwards of 38mil shares. Possibly value comparison could be more focussed on geographic similar producers as well as similar oil/gas grade producers. Do agree that things like cashflow and long term debt & working capital deficiency on a per barrel produced basis is useful. What is "value" anyways? Looking at the large cap. situations - Anderson, Talisman, Gulf?, PanCanadian, Cdn. Natural Resources, Crestar, etc. would seem to also give relative value if compared to historical valuations. Interesting times.......

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