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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: The Fix who wrote (8198)	5/3/2001 12:48:41 AM
From: Richard Saunders	Read Replies (1) of 24927

Fix - something's lunched with the CSH release you posted. Your paste indicates 14,088,433 shares o/s. There are more and the newswire post shows 24.6mil shares. newswire.ca Still, numbers are good. Current conditions indicate production is approx. 550 mmcf gas and 525 liquids. Good improvements shown vs. 4Q in production, revenues and cashflows. It appears that some exploration zip via minor interest in Umbach was sold. If that's a bad thing the good thing would be that ALL long term debt has been erased and there's currently approx. $300K working capital deficit. Use the close price today (somebody <RBC DS house> upticked it) of $0.98 On a per flowing barrel basis and using 24,600,058 shares and $300K w.c. deficit the price currently represents a per flowing barrel (10:1 conversion) value of $22,705 The news release indicates CSH is pursuing some acquisition opportunities. Will the potential acquirer instead be acquired? Not too shabby a move since posted last November (message 7774) #reply-14752142 Maybe a bit of room still left too? Time'll tell and currently a shareholder.

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