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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Lorne Larson who wrote (476)	8/28/2000 4:46:59 PM
From: kingfisher	Read Replies (1) of 11633

No need to be so hard on yourself Lorne. Part of this swing in price is also a significant increase in the price of oil and gas. Looking at year end numbers for Prime West fiscal 1999.They had proven and probable reserves of natural gas 268 billion cubic ft or 26.8 million boe.Pricing assumptions used to calculate net asset value were $2.80 for Alberta Government market for 2000 and $2.68 for 2001.Those prices are totally obsolete with gas above $5 and headed to $6 perhaps $8 or more with a cold winter. Oil reserves of 22.7 million and liquids of 6.1 million boe were similarly understated with W.T.I oil priced at $20.67 U.S for fiscal 2000.W.T.I is now trading at close to $33 a barrel. If it hits $9.50 next month it will still be undervalued IMHO. Later, Richard

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