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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (6475)	11/19/1999 3:03:00 AM
From: Richard Saunders	Read Replies (1) of 24892

Kerm/ Today's date is day number 323 for 1999. If you get a chance in the next while would be interested in your forward-look views re: general sector, etc. As your daily letter (199 useful editions to date.....) and your online column http://www.canoe.ca/MoneyOil/mw_oilnews.html) document, there currently is significant uncertainty and differing views regarding oil and gas. Some are indicating $30+ WTI while others are indicating $20 WTI in Q1'2000. Gas is another question mark too given where pricing was not too long ago. Cold weather is still stalled in the north. Reserves are more-or-less where they were last year at this time however normally gas should be coming out of storage around now. So far that really hasn't been happening..... Uncertainty too re: calendar yr. roll-over seems to be creating some overall skittishness which would also seem to be translating into cash under some institutional mattresses, etc. Some uncertainties too re: previous numbers and asset valuations are casting more dark shadows. Personal tho'ts are that it has been an "interesting" education at how oil pricing has turned around since day 43 of this year (Feb. 12) and now is around us$26 WTI. Cdn. dollar is also in $0.68us range which is additional gravy to many producers. O&G Producer Index isn't seeming to translate into optimism......... Any tho'ts and any possible plans for tossing up a Christmas Basket List of some situations to do further checking? Would be interested in knowing current views whenever you get a chance.

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