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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Richard Saunders who wrote (6925)	11/9/1999 8:36:00 PM
From: kingfisher	Read Replies (1) of 24921

Westcoast Energy shares trading towards a 52 week low.Blame it on the threat of rising interest rates,potential for a 3rd consecutive mild winter,fairly high debt load but how many people are aware of a small little pimple in its butt that could turn into a big problem? Westcoast owns Union Gas in Ontario a natural gas distributor with 1,100,000 customers.The City of Sudbury has exercised its option to terminate its franchise agreement with Union Gas Sudbury.The issue will proceed to the Ontario Energy Board or litigation.If Sudbury wins, Union Gas will only lose 26,000 customers but a precedent will have been set and larger cash strapped municipalities could using similar franchise agreements terminate contracts in London,Hamilton,Kitchener etc.This could get very interesting. Stay tuned for further developments

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