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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: bill who wrote (7590)	9/16/2000 6:03:48 PM
From: Richard Saunders	Read Replies (1) of 24939

bill- gou & pfds. gou.pr.a Not really sure if this will help. You were wondering about increased volume and if the high dividend rate is saying something about possible risk. Personally I don't have a position in the pfds. I did post re: the common a while ago ( #reply-14189749 and #reply-14191687) back when the price of the commons were around $6.00 After listening to the conference call and checking some production/cashflow assumptions I did establish a position and very recently sold. chartsmart.com Overall Gulf would appear to be making progress. They still do have a jag of long term debt and that perception is likely translating into the high dividend that you're currently receiving. As long as commodity prices remain at current levels I suspect you'll be in very fine shape with the pfds. and the risk of default should be minimal. Details regarding the preferreds are at the Gulf website - gulf.ca Personally I suspect that the increased volume is coming from accounts wanting to position back into the o&g sector. Friday trading may have been slightly influenced by "triple witching" in the U.S. when options and stock index futures settle. Here's another link explaining - blackstocks.com Over the past month or so dollars have been coming back to oilpatch situations and I know Gulf is also benefiting judging by their stock price. Here's a link to the TSE Oil & Gas Index and you can see what I mean chartsmart.com Re: GOU - there appear to still be some interesting things in the works and it's possible price will continue to please. As long term debt is reeled in the situation should also benefit and be valued similar to some of it's peers. As far as the preferreds go you would appear to be receiving a respectable dividend and as noted in link above the shares are redeemable at the option of Gulf at a price of $5.00 .......... one morning you may wake up and be surprised.

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