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

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To: Gordo who wrote (117)5/12/2000 8:25:00 PM
From: David Michaud   of 140
 
The company is expected to release first quarter results on May 17. Conservatively estimates are that BelAir will achieve cash flow per share of approximately $0.85 during 2000. First quarter cash flow should be in the range of $0.20 to $0.22 per share. BelAir currently has an average production rate of 2,000 boepd. Based on a conservative price to cash flow multiple of 4, a one-year price target of $3.40 for BelAir.
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