Canadian Oil & Gas Companies Message Board

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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: SofaSpud who wrote (7160)	3/3/2000 11:34:00 AM
From: Craig C	Read Replies (1) of 24921

Renaissance (res,t) for those that hold it or are looking at it I recommend hearing the conference call that occurred yesterday. If you listen you'll understand this sell off. The analyst beat up management on why they would not buy back there shares. Management does not want to go that way saying it has not helped others who have done that. Quite a few of them commented how cheap the stock was, especially the yankee guys.One of them said you owe it to your shareholders to sell the company in order to get the best value for them. Management is trying to redirect focus. Looking at lots of projects right now. Have about 150-300 million for purchases plus a bank line of 1.3 billion. The cash flow target for 2000 is 600-750 million based on 20-23 usa oil. No hedges on oil they won't go in that direction. If this sell off continues you got to think res will be taken out.

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