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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Richard Saunders who wrote (6751)	8/24/1999 1:08:00 AM
From: Craig C	Read Replies (1) of 24921

Richard - Last two deals POC and now Rigel aquiring comp's are paying a good price for current production. Of course the analysts are praising the deals and speculating on others. Keep the market hot. But for any one who wants a reminder how bad these experts are review Remington and the Blue Range fiasco this past winter. Those two take overs make these latest deals in the patch look very rich. The ones who came out empty were of course the shareholders. For those investing in any comp producing >10,000 BOED there are very few if any trading at 6x CF if you annualized the 2nd quarter results forward. Some of them are trading at greater than 9-10 x.If I'm wrong please post the company. Magin would be one I suppose but its only arond 8-9,000 BOPD. Funny thing those analyst are still pushing them in the post and globe. Take this info for what its worth.

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