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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (8385)	8/1/2001 1:49:12 AM
From: Darwyn Petras	Read Replies (1) of 24922

Welcome back ! It's nice to see you back as so much has happened since you last contributed here and to the "Korner". I must say that what I gleaned from your insight put me in good stead over the strong O & G run in the past 18 months. Having held Newport Pet, Renaisance Energy, Startech Energy and most recently Gulf Canada Resources which were all taken out at profit, it has been a nice profitable run. I am fully invested in mostly Canadian O & G ( not particularly bothered by the recent correction ) as I believe the pure fundamentals P/CF, P/E are too compelling. I am more than happy to open up and "share" our natural gas with our friends south of the 49th. While we have seen a loss of a large number of Canadian Intermediates disappear I have to wonder when the next shoe is going to drop given the relative difference in valuation multiples between Cdn and US O & G companies as well as the exchange difference. I think nat gas is taking an interim detour and given current decline rates will likely see higher price levels in the medium term. Any thoughts on the following ? Anderson Energy AXL -good P/CF & D/CF, relatively unhedged production, strong volume growth. Rio Alto -RAX - " " , low cost operater as it makes money above $ 1.10 US MCF Talisman Energy TLM - well run super independant, great international portfolio, tremendous growth for a company its size , successfully stick handling the Sudan hot potato. All companies generating huge cashflow and are vulnerable to takeover given their current undervalued state. Darwyn

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