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Gold/Mining/Energy : Hurricane Hydrocarbons
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To: kingfisher who wrote (9)4/11/1997 7:47:00 PM
From: kingfisher   of 23
 
To All I called Hurricane April 10th.They project cash flow for callendar year 1997 of $75million US or $100million Canadian dollars.They are currently pumping 45000 barrels a day and are targeting 55000 barrels by year end.They have no plans to issue more equity.On a fully diluted basis assuming all warrants and options are exercised they have 50million shares outstanding.Applying a conservative multiple of 4x cash flow would give the stock a value of $8 per share. They have a short position of 1,250,000 shares . Most of this short position is a hedging strategy to protect going long on the debentures.The situation in Kazakstan is very positive. The oil refinery was pur chased by an American Company and a British Company will be spending 1 billion dollars upgrading the electrical system in Kazakstan . The recent weakness in the stock price can be attributed to general market conditions.
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