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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Richard Saunders who wrote (6722)	8/17/1999 12:57:00 AM
From: Craig C	Read Replies (1) of 24910

Poco - another Can comp dissapearing into the sucking machine south of us. The number of big cap Can oil/gas stocks left is slowly shrinking. The only bidders will be other US players I would guess. One might be US Marathon or Chevron. What makes the deal attractive for other US bidders is the value is paper shares. For those that don't trade US stocks they typically slide in the beg of the week and rise quite nicely if API and DOE numbers come out favorably on Tues and Wed. This has been the case lately. The Can mutual funds may have to dump there shares as the shares in BR would be foreign content (if there at the max), so possibly Poco may trade at a discount to the offer. Just a guess. This deal may really wake up other US players who want a bigger gas exposure. Do not think oil comps is what they want. JOMO

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