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Gold/Mining/Energy : TLM.TSE Talisman Energy

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To: Tomas who wrote (844)4/8/2000 4:23:00 PM
From: Tomas  Read Replies (1) of 1713
 
Recent pullback on TSE signals change in sentiment

Sector rotator Nereo Piticco, partner at PCJ Investment Counsel in Toronto is maintaining his overweight position in the energy sector at more than 11%, compared with 7.6% in the TSE 300.

He has been enthusiastic about this sector for a while. Last September, he noted the very strong rise in oil and gas prices in 1999, and was looking for this to translate into healthy cash flow and earnings in the oilpatch.

"The sector remains one of considerable opportunity given that the oil price is expected to settle around $22 to $23 (US) a barrel for the remainder of 2000, which will ensure good cash flow growth," Piticco says.

His principal holdings continue to be Alberta Energy Co. (AEC/ TSE) $46.50 ($49.35-$35.10), Canadian Natural Resources Ltd. (CNQ/TSE) $38.50 ($40.50- $24.25) and Talisman Energy Inc. (TLM/TSE) $40.10 ($49.15- $31.35).

From Financial Post, April 8
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