KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: grayhairs who wrote (3928)	8/13/1999 12:22:00 PM
From: Natedog	Read Replies (1) of 15703

Post says Elk Point favoured by YMG Capital Elk Point Resources Inc ELK Shares issued 21,721,138 Aug 12 close $5.35 Fri 13 Aug 99 In the News The Globe and Mail reports in its Friday edition that Elk Point Resources is a top stock pick of Malvin Spooner, vice-president of Toronto's YMG Capital Management. Buy & Sell columnist Sonita Horvitch notes the stock, currently $4.90, has a 52-week range of $6.25 to $1.65. Mr. Spooner says he likes the company because of its high leverage to the East Lost Hills well in California. He says he expects continuing good news from this play. Mr. Spooner says the most difficult challenge for energy exploration companies is to find good wells and Elk Point has accomplished this. Overall, Mr. Spooner says the Toronto Stock Exchange may languish for a couple of months during the seasonally slow summer months, but there is money to be made by the astute stock picker in times like these. He says that whenever the market lacks momentum, the companies with good news tend to attract attention and their stock prices respond favourably. (c) Copyright 1999 Canjex Publishing Ltd. canada-

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