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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Bearcatbob who wrote (7124)	2/18/2000 7:12:00 PM
From: kingfisher	Read Replies (2) of 24921

Hey Bearcat! Good news from Magin. They just released their year end reserves.They have added 7.85 million of established reserves at a cost of $6.06 per established barrel.This cost excludes capital expenditures related to the Copton exploration project. They have announced a multi well drilling program at Copton with a 23 mile pipeline planned. Net asset Value at year end is $5.07 discounted at 10% and the kicker on this net asset value is. "Reserves related to Copton will be booked in 2000". Add at least $1.20 per share in asset value for Copton and were looking at over $6.25 per share in assets right now. And yet the selling persist? Best Regards, Richard

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