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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: VisionsOfSugarplums who wrote (6116)	1/15/2001 7:03:06 PM
From: Richard Saunders	Read Replies (2) of 24892

2001 gas pricing - KWE-tse. A $7cdn/mcf ESTIMATE. Plucked this out of today's KWE-tse Key West news release. They are currently going on record with a company forward-look indicating an avg. $7cdn./mcf for gas and us$25 WTI for oil. Some recent brokerage house pundits have moved up estimates for 2001 gas to the cdn$4.50 - cdn$5.95 range however the KWE estimate is the highest I've seen to date. Suspect their hedging strategy may help in reaching the number however to date the $7 avg. for '2001 is the highest noted...... newswire.ca The Company’s fiscal 2001 financial projections have just been revised upwards to reflect current production volumes and sharply higher gas prices. KeyWest now forecasts 2001 cash flow of $26.5 million ($0.55 per share) and net earnings of $10 million ($0.21 per share). The pricing assumptions are $US 25.00 per barrel for oil and $US 5.17 ($Cdn. 7.00) per thousand cubic feet (mcf) for gas. KeyWest has forward sold 5.7 million cubic feet per day of gas at $Cdn. 13.50 per mcf for February and March. Volumes are assumed to average 3,225 boepd in fiscal 2001. KeyWest has 48.2 million shares outstanding which trade on the Toronto Stock Exchange under the symbol KWE.

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