Belair Energy Corp. (ASE:BEC) Message Board

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Gold/Mining/Energy : Belair Energy Corp. (ASE:BEC)

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To: Gordo who wrote (108)	3/16/2000 12:24:00 AM
From: John Trudeau	Read Replies (1) of 140

Gordo, here's Vic's reply... I like it: >> "The acquisition of CJE is cash flow accretive to our existing shareholders: BEC forcasted CF, using $19 oil & $2.50 gas = 5.2 MM$/6.9 MM shares = $0.73/share CJE forecasated CF, using $21 oil & $2.80 gas = 5.6 MM$ Combined cash flow = 10.8 MM$/12.9 MMshares = $0.84/share = 11% accretion The reason that their cash flow is at 5.6 MM$ is that they have a higher netback than we do because they receive alot of Alberta royalty tax credit, and because I can eliminate about 1 MM$ of their G&A through the merger." >> If Vic is right, and the acquisition results in .84/share cash flow (obviously higher if commodity prices remain decent), we should be very happy shareholders. I'm looking forward to March 27's OPEC meeting. Perhaps we'll see a rally in the energy sector. P.S. At $1.30/share we're trading at 1.55x 2000 cash flow. P.P.S. I'm still looking for feedback on LBR mgmt. I'll keep you posted. P.P.P.S. Check out arr.a on cdnx. Very very thin, but 1000 boepd and only 4.5MM (or so) shares. I'm lookin' for info on their mgmt too. Regards, John

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